When you're not using it, consider renting out your vacation home - it can offset all or part of the costs of your monthly mortgage and maintenance expenses.
Determine rental rates (daily, weekly, weekend, monthly and seasonal) for your vacation home by checking classified advertisements for rental rates of similar vacation properties in the same area.
Step2
Establish written rental policies for such items as pets, smoking, cancellations, refunds and maximum occupancy.
Step3
Prepare a classified rental ad for your vacation home with a brief description of the location, available dates, desirable features, rental rates, required deposits and a phone number to call for more information.
Step4
Attract potential renters by placing your classified ad on Internet rental and vacation sites, in rental property exchange newsletters, or in local newspapers.
Step5
Contact the chamber of commerce or tourist board in the area of your vacation home to see if they provide prospective renters and tourists with listings of available rental properties.
Step6
Require deposits and signed rental agreements from renters. Provide confirmation of rental reservations.
Step7
Consider listing your property with a rental property management company in the same area as your vacation home, especially if you do not reside in the vicinity.
Tips & Warnings
Rental property management companies usually charge a percentage of rental income for their services, but the benefits of turning over rental management responsibilities to a property manager usually outweigh the costs.
Managing vacation property long-distance can be difficult and time-consuming.
on 3/3/2007
Fast Vacation Rentals is a great way to generate rental leads. They include 8 photos and web links. You can write as much information as you'd like. Best of all its free. www.fastvacationrentals.com
Comments
Vacation said
on 3/3/2007 Fast Vacation Rentals is a great way to generate rental leads. They include 8 photos and web links. You can write as much information as you'd like. Best of all its free. www.fastvacationrentals.com