Coachella Festival inspires home owners to invest in rentals

Coachella Music and Arts Festival in Indio draws thousands to the Coachella Valley and Vacation property owners are cashing in while keep their investments safe.

“The good thing about Coachella and Stagecoach is that it’s expensive. That brings in a potentially different clientele that’s not going to come in and trash the place,” vacation property owner Matthew Nelson said.

Nelson owns a three-bedroom home in a La Quinta gated community. He said this is his second year renting out for Coachella because the price tag is worth it.

“We just did coachella weekend one, $4,200 for one weekend,” Nelson said.

He said that’s enough to cover almost three month’s of expenses. But his comfort lies with his rental agency who takes care of the hassle when it comes to renting.

Royale Vacation Rentals manages more than 70 properties. After the first weekend of Coachella they said only three needed extra cleaning.

“Make sure you have a good size security deposit, two make sure you’ve got a confirmed list of both guests who are staying overnight and your day guests from whoever your potential tenants are,” Royal Vacation Rentals owner Gabriel Franco said.

Franco said it’s important to make a thorough checklist before and after each guest leaves to pinpoint if there are any damages.

Tips for homeowners considering renting out their property:

Make sure to collect a good size deposit, amount depends on your home. Min. $500 Ask renters for the names of all of guests staying on property day or night to confirm who will be at your home Check our more Music Festival News as the second weekend of the Coachella Valley Music & Arts Festival takes place, with the Stagecoach Country Music Festival just around the corner