Why should I rent my vacation home?
Renting your vacation home could be a good source of income if rented frequently. Some owners prefer renting just a few weeks each year to off-set the costs associated with the home. In addition, some owners rent out their vacation home to keep it from sitting empty when they are not using the home themselves.
No, it will not decrease your property value. However, you may have to replace and repair things more frequently.
What type of people rent vacation homes?
Most vacation home renters are homeowners themselves, so they usually know how to take care of someone else's home.
When will the home rent?
Nearly all homes are located in destination areas that have a definite "high" or busy season. Vacation rental homes tend to be rented most often during this high season. Summer is high season in most locations; however, winter is high season in ski areas. The less you use your home during high season, the more your home will be rented and the more income you will earn.
How do I get started?
You can rent your vacation home by yourself or you could hire a local property manager to do it for you.
What are the benefits of renting my vacation home on my own without a property manager?
You can make more money by saving the management company commissions (up to 50%). Also, you will have complete control of the guests who rent your property.
What are the cons of renting my vacation home on my own without a property manager?
You will need to dedicate some time in advertising and managing your home. You will also need to research and adhere to all local regulations and pay all required taxes and fees.
How much time does it take to rent my vacation property home on a daily basis?
You must have some extra time, because you will need to advertise, answer phone calls and emails, and manage the property. Expect an average of 2-3 hours per week.
Can I keep on checking the house while it is being rented?
This may vary upon your agreement with the guests. However, you should not t be so emotionally attached to the home and become a nuisance to your guests.
What are the best ways to advertise my vacation home?
The Internet is by far the most efficient place to advertise your vacation home. There are many vacation rental websites that offer listing services. To find the ones that are more appropriate for your vacation home, just go to Google or Yahoo and type a keyword or phrase that you think vacationers will type in order to find your home. For example, if you have a luxury vacation rental in California you should type “Luxury vacation rentals in California."
You can hire a maintenance company to handle the cleaning and repairs for you or you can do everything yourself (may be with the help of a housekeeper). Finding a good housekeeper is highly recommended because, besides cleaning, they are the ones checking up on the renters and making sure that there is no damage or theft.