When I decided to use my vacation home as a vacation rental, I was afraid of many things including the thought of someone other than a renter using it while it was vacant. How could I avoid this problem? I was also afraid my property would be destroyed. And, the thought of not being able to use my home when I wanted. What if my family or friends want to use it? The fear of booking two parties on the same date was also on my mind. So, I carefully thought about what I needed to do and came up with some solutions on how to minimize these potential problems.
Here's what I thought about:
1. Can I be sure that no one else will take advantage of my unit while it was vacant?
Answer: Find the right person to check in on your property on a weekly basis. It could be a neighbor who is a "stay at home mom" and could use some extra money. Or a handy man that you have utilized to fix things in your home. Perhaps another homeowner with the same needs would be willing to trade services with you.
2. What if I want to use my vacation home? Schedule yourself in when you decide which rental period you would like to utilize. Add it to your rental calendar as you would any other renter. It is important that you use it as you like, otherwise you may feel "uneasy" about renting it out.
3. What if my family or friends want to use my vacation home? Remember, this is a rental business for you. If your family or friends would like to use your home, you are wise to let them know up front that this is a source of income for you that you depend on. A special family/friend rate is always an option.
4. What if I book two parties at the same time? To avoid this problem, a monthly calendar is very useful to keep dates accurate and current. Give a copy of your calendar to your housekeeper for her reference as well. Every time there is a change in dates, be sure to notify your housekeeper as well.
5. How can I protect my property from potential damage? Inform your renters with instructions on how to use your appliances, TV's, DVD player etc. Tell them what you expect from them - in detail. Never assume they know what you expect. Your way of cleaning can be very different from theirs.
Marie R. Ferguson, author of "Breaking all the Rules: How to Rent Your Vacation Home". Discover the 29 Secrets on How to Gain Unlimited Rental Profits. Breaking all the Rules....will teach you How to Avoid the 10 Biggest Mistakes Owners Make when Renting out their Home. Marie is an expert landlord of vacation rentals with over twenty years of experience in the financial and real estate industry.
http://www.howtorentvacationhomes.com or find out how you can list your property on http://www.DreamAwayVacationRentals.com free.
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