5 Tips For Making Bank Using Your Condo As A Short-Term Rental In Athens

If you don’t mind strangers living in your home and touching your stuff, you can make some pretty serious money renting out your condo on a short-term basis. The two most common ways of doing this are by going through VRBO or Airbnb. In fact, nearly three million people now have their property listed for this purpose, and the average Airbnb host makes over $7,000 a year. There are, however, some things you need to get right and others you need to beware of. So we offer these 5 tips for making bank using your condo as a short-term rental in Athens.

1. Consider the Legalities

First, if you want to use your condo as a short-term rental in Athens, you need to consider all the legal implications and ramifications. Many cities are now pushing back against these rental platforms and are putting laws in place to make the practice more difficult. In addition, your HOA may have clauses on the books that restrict or prevent this short-term rental practice. Just check everything out first so that you don’t wind up facing a lawsuit.

2. Make the Listing Count

Second, if you really do want to make bank using your condo as a short-term rental in Athens, you have to get potential renters interested. And that means having a top-notch listing to grab attention and generate interest.

A great listing begins with plenty of listing photos of professional quality to make it stand out from other listings. Use the most enticing, most appealing photo for the main listing image. Next, you will need a carefully crafted description to get people to choose your condo over all the other similar ones available for short-term rental.

3. Price It Right

To successfully use your condo as a short-term rental in Athens, you have to get the price right – neither too high nor too low. Price the rental too high, and you’ll scare renters off immediately. Price it too low, and they’ll wonder what’s wrong with it or what the catch is.

Many of the short-term rental platforms have pricing tools that allow to plug in the pertinent data and then generate a reasonable rental price for you. Whatever method you use, experts in this area generally recommend the following:

  • Compare your condo with similar condos for rent in your immediate area to see what others are charging – and getting.
  • Early on in the short-term rental process (until you get established with positive reviews), you might want to charge slightly less than your competition.
  • Time your renting and listing to coincide with big local events that draw people in so that you can price just a little higher when short-term rental space is at a premium.

4. Be Prepared to Spend a Little

The old adage that you have to spend money to make money holds true here as well. Making bank using your condo as a short-term rental in Athens will require you to keep it thoroughly cleaned and in tip-top, often with professional assistance. And if you use Airbnb or VRBO, you’ll have to pay their service fee. But being willing to make the necessary investment will likely mean more rental income.

5. Vet the Guests

And, finally, using your condo as a short-term rental, a profitable one, means being picky about whom you rent to. So vet your guests and get a security deposit. Talk to potential tenants directly and establish a dialogue to get a feel for them – to get a sense of whether they will respect and take care of your property. Otherwise, you’ll wind up spending a bundle on repair bills that will eat into your profit.

You can indeed make bank using your condo as a short-term rental in Athens. It just takes a little research, preparation, and cautiousness. Renting a condo is different from renting a house, so if you’re still not sure how to proceed, contact an experienced local agent.

To find out how we can help you make bank with your condo as a short-term rental, contact us today. 706-426-1082

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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