Richard Fertig, of Short Term Rental Secrets, knows the value of listing your home as a short-term rental.
Fertig has short-term rental properties all over the country in hot vacation markets. He said Tampa has seen one of the highest growth rates of guest arrivals in the country under the vacation rental website, AirBNB.
ABC Action News spoke with Fertig over Skype to talk about how Tampa Bay area residents can make money listing even one bedroom in their home as a short-term rental property.
"The reason I do all of this is I recognize there is a short fall of the amount of money people are saving, myself included, including 401ks, IRAS and pension funds," he said. "We're living longer. We're exercising more. We're eating better. There's advancements in medicine. "
He says it's easy to get started.
"My camera man that helps me film all of the videos, has a fold out couch in his living room," Fertig said. 'Literally shared space with a fold out couch, and he's generated enough income to pay for his wedding and his honeymoon. If he keeps doing this over the next 5, 10, 20 years, he's going to have a portfolio or properties, paid outright. And yes, you can do it."
Fertig said it's better to be a people person.
"You have to be a little bit entrepreneurial," Fertig said. "You have to work hard and sort of laugh when things get a little bit challenging. And it really helps if you're a people person. If you like people and you like hospitality, you're a natural."
Fertig said make sure your property is in good condition so guests will be comfortable.
"Make sure all the lights have light bulbs and the toilet flushes properly and all of the things we all do on a daily basis in our own homes, make sure that's buttoned up, just like you would expect it to be at a hotel," he said.
He said there are several ways to make sure the guests you hosts have a good understanding of what your expectations are.
"From a safety perspective, I really encourage people to be very direct and transparent on what they are looking for. And specifically what they are not looking for. So in my listings I really clearly say no parties, No groups, no events, no loud music, no smoking."
For more tips, visit SHORT TERM RENTAL SECRETS.