Some seniors are looking to short-term and Month+ rentals to explore where they want to relocate after retirement
As the owner of a property management company with a sizable amount of Month+ rentals, I encouraged my retired parents to explore the world of vacation rentals. My plan was to help them rent out their home in Yorba Linda, CA for a few months and book a comparable home in a city they’ve always wanted to visit for a one or two-month stint.
During this exploration period, my parents tried several cities for longer periods of time to see which area felt like it could be their new home. They lived lakeside on the outskirts of Atlanta. Next, they lived on a small vineyard in Paso Robles, then extended their wine theme down to Santa Ynez and Temecula. They spent considerable amounts of time in each of these areas, exploring city life, meeting people, and sampling local restaurants.
On each trip, they’d meet with a local realtor to help them explore potential properties. After a year and a half of exploring different cities, my parents ultimately chose a home just north of Temecula. While staying in vacation rentals and monetizing their former home, they were able to find their forever home in the area that fit them best.
There are a few goals of this practice that offer retirees amazing benefits:
- Retirees can get a feel for a city or neighborhood before committing to retiring there full-time.
- Retirees can see the world, travel seasonally, and enjoy the climates and landscapes they love the most.
- Retirees can earn passive income by renting out their home while they’re away.
Using Vacation Rentals to Get a Feel for a New City
Retirees can stay in a city for a few months as a test run while deciding whether to move there permanently.
One of the benefits of living in one place for an extended period of time is getting to know it better than those who are merely visiting—you’ll be able to experience the local culture and hear from people who live there full-time instead of just passing through on vacation!
Sure, your real estate agent (or one of ours at OpenAiRE), can help steer you in the right direction. But to truly fall in love with a community, it’s always preferable to spend a significant amount of time there first. Find a local coffee shop, your favorite activities in the area, and meet the neighbors to truly determine if a community is right for you.
Retirees Using Month+ Rentals for Seasonal Homes
Month+ rentals and Airbnbs make it easy to be a snowbird. Retirees can spend the winter months in sunny Palm Springs, glamorous Los Angeles, or tranquil Mar Vista. Month+ rentals provide retirees with the benefits of a hotel (amenities, responsive customer service, housekeeping, no utility payments) and the privacy and comfort of a true home.
You’re not alone. The travel industry is growing rapidly, and many of our guests are retirees with ample free time. Short-term rentals are a great way to forge friendships and connections with other traveling retirees!
Retirees Renting Their Homes While They’re Away
Turning your home into a vacation rental has never been easier. Thanks to online platforms and a booming travel movement that includes slow travel, digital nomads, and more, the process is all but automated. Many retirees have turned to websites like Airbnb and VRBO, so their beloved homes don’t sit empty while they explore. A trustworthy property manager will handle design, marketing, and showing a home in its most authentic light so retirees don’t have to worry. It’s also an easy way to get a return on your most prized investment–passive income from renting out your home can cover your travel expenses, essentially making your adventures free!
Competent and Trustworthy Vacation Rental Property Management
As you retire, the world is your oyster. The last thing you want is to purchase a home in a new unknown city only to realize it’s not the ideal fit for you. Or desiring to travel and enjoy your golden years but feeling bogged down by the responsibilities of maintaining your home. A trustworthy property management company can help.
Open Air Homes is a boutique property management company in Southern California. We’ve managed vacation rentals since 2012 and have set up countless luxury homes for success. From our photographers and vendors to our interior design team, we go to great lengths to ensure every one of our homes is a top-notch vacation rental property.