A trip to the waterfront is the ultimate stress-buster for many people, and renting out a vacation home is a great source of income. It’s easy to rent a home by the water, but there are certain things to consider. Below, you’ll find some of the things you’ll have to think about when renting out a waterside home.
Furnishings: Your housing cost isn’t just the price of the lot and land, but everything in the home. If you want people to make a repeat trip, your home has to look nice–each and every time. You can save money on furnishings by checking out sales and auctions of used hotel furniture, but don’t skimp too much. A vacation home is a place for people to come and relax–not to worry about squeaky bed springs and dripping faucets.
Housekeeping: In between rentals, you’ll need to have the house cleaned. Cleaning a rental house is more labor-intensive than cleaning your own home before guests arrive; people are paying hundreds per day or week for the rental, and the home’s cleanliness should reflect that fact. Kitchens and baths should be sparkling, carpet should be free of debris, and the entire home should smell fresh and airy.
Minor Repairs
After someone pays for a weeklong rental, you may have to make minor repairs. You may be used to worn carpeting in your home, but that won’t work in vacation Rental Homes in Lake Of The Ozarks, MO. If paint is peeling, repaint the area. If the caulking around the bathtub is moldy, re-caulk the tub. If your deck is looking sun-bleached, re-stain it. These repairs don’t all come cheaply, but your rental property is a commodity, and it should be treated as such.
Property Management and Utility Fees
Just like your own home, you’ll have to perform maintenance on your vacation rental. Hopefully your rental rate is high enough to pay the mortgage, along with HOA dues, trash, water, sewer, electricity and other expenses. You’ll need to make the outside look just as good as the inside, which means hiring a landscaping crew.
Most of these services are included in a property management contract, which takes much of the hassle out of renting. It’s a lot harder to manage a vacation property than it is to manage a residence; vacation renters don’t have a vested interest in maintaining the property.
