Initially when I first thought to rent my vacation rental property I received many opinions from other property owners of it’s benefits and pitfalls. While there might be many downfalls to renting my property I ultimately think it’s a good solution for my family. Below you can find a summary of vacation rental misconceptions of renting your home that currently exist in the industry today.

Your place must be located near your residence. I don’t know many vacation owners who live near their rental property. It seems most home-owners get a vacation rental near an area they love to vacation. Examples of the keys to renting your vacation rental at a distance is finding some reliable sources like housekeeper, handyman, property management company and other local services. Luckily, we are in the age of the world wide web as well as being pretty easy to find some terrific sources that will help support you with this particular endeavor.

A property management company is essential. Inside my last post I spoke with regard to the benefits and drawbacks to using a property management company or managing a property yourself. You still have the option of the right way to manage your vacation rental property but I thought I would mange the home myself. There is no reason someone can’t do exactly what I’m doing. I collect money from my renters via Paypal, I created a rental agreement and house rules I send, and I am in full communication with all renters. I enjoy the control I have over the entire situation. It could be stressful in some instances but I would never give up this responsibility of renting my cabin and know nobody can perform it as good as me.

My vacation property will probably be ruined by renters. This has been undoubtedly one of my major fears when I began to rent my vacation property. One of many primary advantages of managing renters. When I first decided to rent my vacation rental property I received many opinions from other property owners of it’s benefits and pitfalls. While there might be many downfalls to renting my property I ultimately think it was a good choice for my family. Below you’ll find a list of vacation rental misconceptions of renting your home that currently appear in the industry today.

Your property must be located near your house. I don’t know many vacation owners who live near their rental property. It appears most property owners get a vacation rental near a region they enjoy to go on holiday. Many of the secrets to renting your vacation rental at a distance is finding some reliable sources like housekeeper, handyman, property management company or another local services. Luckily, we are now living the age of the online market place as well as being pretty no problem finding some great sources that will help you with this endeavor.

A property management company is vital. Inside my last post I spoke in regards to the disadvantages and benefits to using a property management company or managing a property yourself. You’ve still got a choice of the way to manage your vacation rental property but I made a decision to mange the home myself. There isn’t a good reason why someone can’t do exactly what I’m doing. I collect money from my renters via Paypal, I created a rental agreement and house rules I send, and I am in full communication with renters. I really like the control I have over the entire situation. It could be stressful once in a while but I will not surrender this responsibility of renting my cabin and know nobody can do it much better than me.

My vacation property might be ruined by renters. I thought this was amongst my major fears when I started to rent my vacation property. One of the great things about managing renters for your property is you get to choose who stays at your property. I’ve been renting my property for nearly 6 years and can only remember a couple times where a renter may have damaged a piece of furniture or stained the carpeting. The best benefit is I was able to use the renter deposit to correct the piece of furniture and clean the carpet. Take my advice, if you screen your renters before letting them stay in your property and collect a rental deposit chances are on your side your vacation rental property will not be damaged. It’ll cost lots of money and be very difficult to find renters. This job isn’t that difficult to get renters considering the technology we have at our fingerprints. There a variety of ways to promote a property. Some of the ways like Craigslist are free and several of them cost money like some of the most frequented vacation rental websites. These methods have countless visitors each year and are generally a terrific way to rent your property. I personally use each method and can rent my cabin 15-20 times yearly for roughly $10,000 income.

It’ll cost you a lot of money and be hard to find renters. This process isn’t that difficult to find renters with all the technology we now have at our fingerprints. There a variety of various ways to promote a property. Some of the ways like Craigslist are free of charge and some of them cost money like many of the most frequented vacation rental websites. Both these methods have a large number of visitors every year and tend to be a terrific way to rent your property. I personally use each method and am able to rent my cabin 15-20 times annually for roughly $10,000 income.

Overall, renting my vacation rental property was the best thing we did. The first year of ownership we did not rent the property and had to cover all of our yearly expenses out of pocket. Since I began renting my property I’m able to pay for all my expenses using the rental income plus some years even produce a small profit.

I hope I was able to eliminate any misconceptions about renting your vacation rental property and put your thoughts at ease.

I am a Father of 4 children and married to a beautiful woman. We own a vacation rental property in the mountains and market it on one of the popular vacation rental websites. However, we don’t like the direction of this website and are taking it upon ourself to obtain as much vacation rental property owner feedback to make the ultimate website. Please let us hear from you today!

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