Should you buy a vacation rental?
Should you buy a vacation rental?
Buying a vacation rental depends on your financial situation: If you are in the position to cover all costs of owning and operating a vacation rental home or villa, but would like to rent it for a portion of the year to cover some costs, then buying could be a good option.
Should I rent my vacation home?
Renting your vacation home has the obvious benefits of creating extra income to offset the day to day operational costs. Therefore, if you can figure out how to keep it rented most of the time, you could pay for the mortgage payment and have some left over.
How to rent a vacation home?
1) Take high quality photographs of your rental property. The vast majority of vacationers find their rentals online, and the quality of the photographs in the listing make a huge 2) Prepare a written description of your property and its amenities. 3) Draft a strong rental agreement or contract that protects both you and the renter. Most home rental websites offer rental agreement templates that you can use a starting place. 4) List your property online. There are many ways to list your property online. For the occasional short term rental, you might consider using Craigslist or AirBnB. 5) Consider using a rental agent or property management company. Property management companies take a lot of the stress out of renting by advertising and managing your vacation home for 6) Screen your guests carefully. Inviting strangers into your rental home can be a nerve-wracking, risky process.
What is a short term vacation rental?
A short-term rental (commonly referred to as a vacation rental), is the leasing out of a furnished property on a short-term basis. Depending on the owner, rental location and a number of other factors, these properties are rented by the week or by the night.
