Selling a short-term rental (STR) property is different from selling a regular home. If you’re self-managing your STR, you need to take extra steps to ensure the transition is smooth, the value is maximized, and the new buyer sees the potential of the investment. Even if you’re working with a property manager, you should be involved in the process to get the best possible outcome.
This guide will walk you through the essential steps to prepare for selling your STR so that you can attract serious buyers and get top dollar for your investment.
1. Set Up Your Own Listings
If you’re running a short-term rental and plan to sell in the future, one of the best things you can do early on is create your own listing on platforms like Airbnb and VRBO. This is crucial for a few reasons:
- Transparency for Buyers – One of the biggest concerns buyers have is whether the property will generate consistent bookings. Having an active listing with reviews and booking history gives them confidence in the investment.
- Easier Transfer of Ownership – If your STR is already established under your account, you can transfer the listing (or at least provide the data) to the new owner. This helps maintain continuity in bookings and reviews.
- More Control Over Your Business – If you rely on a property manager’s account, you won’t have direct access to historical data, which could make your property less appealing to potential buyers.
2. Document Rental History and Future Bookings
A well-documented rental history is one of the strongest selling points of an STR. Buyers (and their lenders) want to see proof that the property generates revenue. Here’s what you should keep track of:
- Income Statements – Show month-by-month revenue and expenses for at least the past 12–24 months.
- Occupancy Rates – Buyers want to know how often the property is booked. A high occupancy rate signals a strong investment.
- Future Bookings – If your calendar is filled with future reservations, that’s a great selling point because it means the buyer can step into an already-profitable operation.
- Guest Reviews – Positive reviews on Airbnb, VRBO, or Google will make your property more attractive to buyers.
If you’re working with a property manager, request this information early. If you self-manage, keeping detailed records in a spreadsheet or property management software is a smart move.
3. Educate Yourself on Revenue Management & Marketing
Even if you’re a year or more away from selling, now is the time to refine your STR business to maximize value. Consider:
- Optimizing Pricing Strategies – Learn about revenue management tools like PriceLabs, Wheelhouse, or Beyond Pricing to ensure you’re maximizing income.
- Marketing Your STR – Make sure your listing is well-optimized with professional photos, a compelling description, and a strong title.
- Improving Guest Experience – Address any maintenance issues, upgrade amenities, and ensure your property has the best possible reviews.
The better your rental performs, the more attractive it is to buyers—and the higher price you can command.
4. Price Your STR Realistically
Just because your STR is making money doesn’t mean you can automatically add an extra $500,000 to the asking price. Buyers (and their lenders) need to see that the property is priced appropriately based on:
- Comparable sales of similar properties (with and without STR history)
- The home’s condition, location, and amenities
- Actual revenue generated, not just potential revenue
While having strong rental income helps, remember that STR valuation isn’t just about revenue—it’s about market demand as well.
5. Prepare for Buyer and Lender Education
A common challenge when selling an STR is dealing with buyers and real estate agents who don’t fully understand the business side of short-term rentals. Many buyers might not realize the value of existing bookings, the importance of guest reviews, or how STR financing works.
To overcome this:
- Create an Information Packet – Include rental history, occupancy rates, revenue statements, and other key details.
- Work with an STR-Savvy Agent – A real estate agent experienced in STRs can help educate buyers and negotiate the best deal.
- Be Ready to Answer Questions – Some buyers (and lenders) may not be familiar with STRs, so be prepared to walk them through the numbers and highlight why your property is a great investment.
Final Thoughts
Selling an STR property requires more than just putting a sign in the yard. By preparing your listing, documenting your rental history, and pricing your home correctly, you can make your property attractive to serious buyers who see the value in your business.
Whether you’re self-managing or working with a property manager, taking the time to get your STR ready for sale will ensure a smoother process and a better outcome. The more prepared you are, the easier it will be to sell your STR as a profitable, low-risk investment.
If you’re thinking about selling, start taking these steps today so that when the time comes, you’re ready to get the best possible price for your short-term rental!