The furnishings you sell are not for your home but a vacation rental. Spend some time walking through the property to make a list and decide what to keep or add to the deal.
A vacation rental business brings additional complexity to the sales process. However, it doesn't have be difficult. Contacting the people involved in your rental business will make it easier to sell your vacation property.
To avoid unpleasant surprises during tax season, it is important to understand the tax implications of a vacation rental sale. You may be eligible to exchange your vacation property for 1031 if you have used it as an investment. However, if you used the vacation property primarily as a second residence, it might not be eligible.
If you have rented your vacation home, it will likely get high marks for curb appeal. With the constant stream renters, there is bound to be some wear and tear. Let's take a moment to look at the rental property with the eyes of potential buyers.
Selling your Airbnb property should be priced correctly. Price your property too high and your home will remain unoccupied. If you set it too low, you will lose out. You might also make buyers suspicious by the low price.
The impact of great reviews is just as powerful as the impact of photos or words. There are more than 7% of complaints related to guests not being able to check in, feeling abandoned by their host, and this will result in many great reviews that are relevant to potential buyers.
Capital gains tax will not apply to you if your goal is to reinvest in property or to buy another one. The law requires you to pay it. Otherwise, the IRS can come knocking and you may face any legal consequences.
