Securing Your Vacation Rental: What If You Can’t Be Around?

The vacation rental market is back in business after the pandemic slowdown. With the recovery of the hospitality segment, the future looks bright for investors looking to diversify their portfolios with this option. These properties promise a steady income stream with a lower vacancy risk, making them ideal for busy investors.

Statistics validate the profit potential of the industry. Nearly half of residential properties in the US were bought for vacation rentals in 2021. Additionally, the short-term rental industry was worth over $20B in 2022. Another noteworthy fact is that a vacation rental in the US gets an average daily rate of around $217. 

Owning a vacation rental is a great idea, but it also entails some struggles. Being away from your property is the biggest stress factor. Maintenance, renter screening, and security should be your priorities.  You may hire a property manager to do the heavy lifting, but security deserves more attention.

Fortunately, you need not do a lot to secure your vacation rental in your absence. Here are a few actionable tips you can rely on.

Invest in a Monitored Security System

Monitored security is the best bet to safeguard your vacation rental even when no one is around. It is far more feasible than hiring a security guard because it lets you watch the place remotely. 

When it comes to the reliability of these systems, the market size says it all. The home security system market is worth $60.51 billion in 2023 and is projected to reach $92.76 billion by 2028.

Install motion sensor cameras at strategic locations in and around the property. A smart app enables you to view real-time videos on your smartphone. You may also get notifications when something is amiss. With these systems, you can prevent theft because they work as deterrents for would-be burglars. 

Secure Access Points

Millions of home burglaries happen each year in the US, translating into one event of invasion every 25-30 seconds. While most break-ins are forced, many burglars can walk, crawl, or climb to get inside a house effortlessly. The chances are high in unoccupied vacation rentals just because no one is around on the property.

High-security commercial locks for access points like doors and windows can make all the difference. Getting installations by a commercial locksmith gives you peace of mind because you can trust their recommendations and installation expertise. Adding deadbolts on all external doors and grills to windows and skylights can add an extra layer of safety.

The Flying Locksmiths highlights the significance of top-notch locks to prevent break-ins and safeguard vacation rentals. An access control system enhances safety further. Consider these essential investments to keep your property safe in the long haul.

Prioritize Maintenance 

Optimal maintenance does more than make your property attractive to renters. It also prevents expensive repairs, adds value, and prolongs the lifespan of your property. At the same time, it minimizes the risk of break-ins due to easy access. Experts recommend setting aside 1% of the property value as a yearly maintenance budget.

Anyone can enter your place if the doors and windows are not resistant enough. Easy access points in the boundary walls compound the risk. Problems with alarms and security cameras are another reason to worry.

You can overcome these concerns by investing in regular maintenance, from strengthening structural elements to securing access points and upgrading your home security systems. A reliable property management company can take care of these jobs if you live far away from your vacation rental.

Know Your Neighbors

Neighbor safety is often an overlooked factor when it comes to securing vacation rentals. You can check the FBI's Crime Data Explorer to assess the neighborhood safety statistics before you invest in the property. But crimes may happen even in the safest of areas, making it essential to build your defenses. The best way to do it is by knowing your neighbors, even if you don’t live full-time at your vacation rental.

Closer-knit neighborhoods experience fewer break-in incidents because strangers tend to stick out. Ensure that your neighbors know that your property is a vacation rental that will likely stay vacant for several weeks each year. They can keep an eye on the vacant house and renter activities and inform you and the authorities if something is wrong.

In summary, a vacation rental is an excellent source of passive income and ensures long-term value appreciation for real estate investors. But living away from the property means you should be extra conscious about its security. Following these essentials can help you keep robbers and criminals at bay. Also, be selective about your renters because the wrong one can be a threat to your property.

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