How to Make Money on Vacation Rental Property | iGMS

In light of the global pandemic, many people are searching for potential side hustles and wondering how to make money on vacation rental property. Owning a second home will not guarantee you an early retirement, but it can be a good investment that generates a steady stream of passive income.According to John Banczak, the executive chairman of TurnKey Vacation Rentals, for every $100,000 you pay towards a vacation property, you should aim for an annual rental income of about $10,000. On the other hand, the data collected by Airbnb and Vrbo suggests that vacation rental owners can make anything from about $11,000 to as much as $33,000 per year.We’ve created this practical guide on how to make money on vacation rental property to help short-term rental hosts and property managers make the most of their real estate portfolios. 1. 1. Starting Your Vacation Rental Business 2. 2. Welcoming Your First Guests 3. 3. Maximizing Your Vacation Rental Revenue 4. 4. Making Money on Vacation Rental P...