Austin is a prime location to own a vacation rental property. However, when you ultimately decide to cash out on your Austin short term rental rental, there are a few important things to consider to ensure a successful airbnb sale.
1. Timing
Timing is critical when it comes to selling a vacation rental property in Austin. When you’re selling an income producing short term rental you have to consider the seasonality of the Austin real estate market as well as the peak season for your vacation rental. If you're looking to sell during the prime spring selling season, you'll have a higher chance of attracting the highest sales price, yet this may be problematic if your vacation rental is also earning the most money during this same time of year. Should you sacrifice booking revenue in order to allow showings? Is there a way you can do both? Depending on your personal circumstances, we can strategically plan the timing of your vacation rental to best meet your needs.
2. What Comes with the Sale of Your Austin Vacation Rental
When selling a vacation rental, it's important to consider what personal belongings will convey with the sale of your property. This includes any furniture, appliances, decor or equipment that will be included in the sale. Will these items be included in the sales price? Would you prefer to sell them separately? Are there personal items you want to keep? All of this information should be clearly communicated to potential buyers to ensure that there are no surprises during the closing process.
3. Rental History and Revenue
One of the most important documents for a prospective vacation rental buyer is the historical rental revenue documentation. Potential buyers will want to see a detailed rental history, including the number of bookings, average nightly rate, total rental revenue, and a breakdown of expenses. This can be in the form of a P&L or a self-generated summary of these key facts. This information can help buyers determine the potential revenue that can be generated from the property, and can impact their offer price.
4. Marketing Your STR
Marketing is a critical component of selling any property, and it’s important for selling a vacation rental property in Austin too. Showcasing the property's unique features, creating a detailed listing, explaining the benefits of the area, and educating prospective buyers about the rental income or revenue potential of an airbnb all come into play when properly marketing an Austin STR for sale. Here at ATX|STRS, we market your short term rental to a wide network of short term rental investors, key industry players, and airbnb specific investor groups to reach the targeted audience you need to sell your airbnb. The more exposure your property gets, the more likely it is to attract potential buyers.
5. Choosing the Right Agent to Sell Your Airbnb
Finally, choosing the right real estate agent is essential when selling a vacation rental property in Austin. An experienced real estate agent will be able to provide guidance on pricing, negotiating offers, and navigating the closing process. They will also have a deep understanding of the local market and be able to market your property effectively to potential buyers. You need someone who has a deep understanding of airbnbs, and knows how to navigate selling one with ease. Our team specializes in short term rental sales, so if you’re looking for a pro to handle your airbnb sale, contact us today.
