As you are beginning your rental property business, there are many decisions to make. Some of these choices deals with what you should charge your renter for, other than the standard rental rate for the home. There are quite a few miscellaneous you may want to consider to help you keep your home in good shape, and to make the whole renting experience a little easier for yourself. Below are some of the more common vacation rentals fees that holiday rental owners charge their guests.

Security Deposit: This is a refundable fee collected at the time of reservation. The amount will be sent back to the guests upon departure, so long as there were no damages in the rental property. Holding half or all of the deposit is acceptable if there are repairs to be made after their guests have left.

Damage Waiver Fee: If you choose, you can charge this fee instead of a damage deposit. Unlike the deposit, this fee is nonrefundable. It is also significantly cheaper than a damage deposit, ranging from $25-$100. The idea behind this fee is that if only 1 in every 15-20 guests leave behind damage, you will have enough saved from the damage waiver fees to cover the repairs. However, this may be a bit unreliable, especially if your home is somehow susceptible to damage.

Cleaning Fee: This is one of the most popular fees charged by vacation rental owners. This covers the housekeeping fees to have the home cleaned thoroughly between each renter. Charging a $10-$20 cleaning fee will offset your housekeeping and maintenance costs.

Pet Fee: If you allow pets in your rental home, it is common practice to institute a pet fee of some kind. Many owners charge a daily fee of $10-$20, which pet lovers are more than willing to pay to bring Fido along with them on vacation, as the fee is generally cheaper than boarding costs.

Parking Fee: If your rental property is a condo or apartment, there may be costs associated with parking. There are some hotels who charge the same thing, so do not think that potential guests will be totally turned off about the fee. Having your renters pay a small fee for their entire stay helps with your costs of parking, and of course, gives them a place to keep their car!

As you can see, there are many vacation rentals fees you should think about charging while you are setting up your rental business. You may want to play it by ear and add some of the fees later, if you see a problem arising with expenses of certain things.

No related posts.