If you want to travel the world for extended lengths of time and you own your own house, condo or apartment, you always have the option of renting out your property while you do your traveling. Renting out your place not only gives you some extra income, which you can then use to supplement your travels, but it also frees you up to travel the world and go wherever you so please.
Five years ago I bought my very first property – a ski condo in the mountain town of Park City, Utah. And each year, when I go away on one of my extended bicycle touring or travel adventures, I rent out the condo to another individual. Having this condo in my possession and being able to quickly and easily rent the place out is just one of the things that makes world travel so easy for me. Unlike so many others who are weighed down with personal belongings and homes they can never leave, I have designed my life and my home in such a way that I can pick up just about any time I want and jet off to some distance corner of the globe.
In the video below I will give you a guided tour of my condominium in Park City, Utah and explain why my condo is set up the way it is. After watching the video, scroll down below and read my seven recommendations that will enable you to quickly and easily rent out your home so that you too will have the time, money and freedom you need to travel the world.
Note: In the video above I say that I am still looking for a renter. However, a few days after posting this video on YouTube, I found a renter for my Park City property. The condo has already been rented! The stuff I’m talking about in this article really does work.
Decorate With Colors & Items Everyone Will Enjoy
If you plan to rent out your home, condo or apartment at any point in the future, be sure to put some thought into your interior design. You may have a personal style that you wish to express in your home, or a bright flashy color that you might happen to love, but that doesn’t mean you should decorate your home in that way. If you are planning to rent out your home, decorate with neutral colors and furniture pieces that anyone would like. The interior design of your home is one of the biggest factors many renters consider when it comes to renting a property. So, don’t scare prospective renters away with colors or furniture pieces that are overly flamboyant.
Avoid Decorating With Anything Personal
When renting out your home, you need to remove anything personal from the property. That means no framed pictures of your friends or family. No baby toys. No dog beds or racy magazines. Anything personal needs to go. If you want to hang photos on the wall, make sure the photos are of something neutral. Landscapes and abstracts are recommended. In my condo, I’ve decorated the entire place with pictures from my travels. I’m not in any of the photos myself, however, so the photos will appeal to anyone, no matter where they are from or what their personal tastes may be.
Cleanliness Is Key
I shouldn’t even had to say it, but the property you’re renting out needs to be as clean as it possibly can be. No one wants to rent a place that looks like a pig sty!
When you take photos of your property (more on this in a minute), make sure you clean the place up before snapping the pics. And when your renters arrive, make sure the property is in the best condition it possibly can be. The last thing you want is have a renter arrive at your property and then realize that it is messy and not nearly as nice as it looked in your marketing photos. Don’t give your renters anything to complain about… and keep your place clean.
Get Rid Of The Things You Don’t Need
If you want to travel, you can’t be too attached to your stuff. Personal belongings are great, but if you have too many of them, they’ll do nothing but hold you back and prevent you from doing everything you wish to do. A couple times a year you should go through your things and get rid of the items you have not used in the last six months. If you haven’t used that item in six months or more, there’s a good chance you’ll likely never use it, so you should either start using it or get rid of it. After you’ve gathered up all the stuff you no longer need, throw it in the trash, donate it to charity, or sell it online. If you decided to sell your things, the money you make from those items could very well help to pay for a significant portion of you travels. Heck, if you have a lot of stuff, getting rid of your things might very well pay for your entire adventure!
The secret here is to get rid of as much as you possibly can. The fewer personal belongings you have, the better. I have a number of friends who are constant world travelers and they have so few things that they own that they can actually tell you the exact number of items in their possession. You don’t necessarily have to go to that extreme, but you’ll be surprised just how nice it feels to get rid of all that stuff you haven’t been using.
Put Your Stuff In Storage
Even before you rent out your home, you need to think about where you are going to put your personal belongings once your place is rented out. You do not want to leave your personal belongings in the property when it is rented. In my case, I have a storage unit that is located directly underneath my condo. When I rent out the condo, I take all of my personal belongings out of the unit and store them underground in the basement storage unit. Then, when I return home from my travels, I simply lug my belongings back up from the basement and I’m good to go. Plus, I have so few things, I can move in and out of my condo in 30 minutes or less.
If you plan to rent out your home, put some thought into where you are going to store your things while you are traveling. If you have a place on the property in which you can store and lock away your possessions, then great! But if you don’t have room on the property itself for all of your personal things, you need to look into renting a storage unit, having a friend or family member store your belongings, or something else along these lines. Consider in advance where you will be keeping your belongings once you hit the road.
Marketing Is A Must
A big part of being able to rent out your home is going to be determined by the marketing that you do. If you don’t market your property correctly, you stand little chance of ever renting the place out. To more easily rent your home, I recommend creating a website on which you can post photos and information about the property you are renting. Then, you can use the website that you created to show prospective renters exactly what they will be getting. Putting a classified ad in the local newspaper is no longer enough to rent out a home and demand a high price. Renters want to see the property before they move in and having a website set up for this specific purpose will really help you out.
To see the website I created to help me rent out my home in Park City, Utah, just click here.
It Helps To Live In A High-Demand Location
Finally, when it comes to renting out your home, it certainly helps to live in an area where people want to live. The more desirable of a place that you live, the easier it is going to be for you to rent out your home.
Luckily for me, I live in what is likely the most high-demand city in my entire state. I live in a resort town, just minutes away from 3 world class ski and snowboard resorts. During the winter, a condo like mine is in super-high demand… and this makes renting the place out a total breeze.
So, the lesson here is this: If you plan to travel a lot and you want to rent out your home when you are away, be sure you live in an area where other people will want to live or visit. The more desirable of a location that you live, the easier it will be to rent out your home when you wish to travel.
If you have any questions about renting out your own home, condo or apartment and you think I might be able to help you, please leave a comment below and I’ll get back to you as soon as I can.