| My ideas are based on giving your guests the | | | | references and follow up on them. I would choose |
| best vacation rental experience possible and in | | | | a company that has been around for many years. |
| return, receiving the highest rate of return (both | | | | Be sure to get a complete outline of their duties |
| financially and emotionally rewarding). I believe, if | | | | and fees and how they handle emergencies. Find |
| you treat your guests (renters) with respect and | | | | out who will meet your guests at the time of |
| make them feel special, in the same manner as | | | | arrival and who will take care of the house |
| you would treat your own family and friends, | | | | cleaning. if they provide the cleaning is that an |
| your vacation property will be treated with the | | | | extra charge or is it included in the initial fees. You |
| same respect and any potential damage should be | | | | really need to be clear on who takes care of |
| minimized. This will help with repeat renters and | | | | what and how much the fee will be for each item. |
| excellant referrals for your home. | | | | What do I charge: There are ways to determine |
| Renting a Vacation Home is different from renting | | | | what to chare Are there additional expenses (e.g. |
| a year-round unit? In most cases, the owner can | | | | cleaning) in renting to vacationers? |
| earn more income with less potential damage | | | | Deposits: A deposit should be collected with a |
| from a short-term “vacation” rental than | | | | signed rental agreement. A security/cleaning |
| an annual lease. For instance, if you were to | | | | deposit and rental balance should be collected by |
| charge $1,000 per month on a monthly based | | | | date determined by owner. And how far in |
| rental with an annual agreement, you would earn | | | | advance should you collect your money? With any |
| $12,000 at year end. However, if you were to | | | | signed agreement a deposit should be collected. |
| rent out your home on a weekly basis for $1,000 | | | | The balance should be due before the date arrival |
| as a vacation rental, your possible gross income | | | | and long enough for check to clear. Owner should |
| could be $52,000 at year end. Of course, that | | | | also include state and city taxes in rental fee. |
| would depend on the location of your property. | | | | (Owner should always check with their city and |
| Can it be used year round as a vacation rental or | | | | state tax laws and with the tax attorney.) |
| is it seasonal? Is it in a popular location? What kind | | | | Challenges when renting from a distance? Finding |
| of attractions are nearby? | | | | the right person to check on your property and |
| Amenities: My basic rule of thumb: Any amenity | | | | deciding who will clean your unit. How can you |
| that you would expect when you are on vacation | | | | overcome that? Or, if you have a plumber, |
| is what your guest (renter) would also expect. | | | | electrician or maintenance person that you use |
| The more that you provide, the more your rental | | | | and trust, you may want to ask them if they |
| will stand out from others. Your guests will | | | | want to check up on your unit. As for hiring a |
| remember all the extras that you provided. And, | | | | cleaning person, you could use a local cleaning |
| the more you give, the more you can charge and | | | | service or ask a neighbor who you trust if they |
| the less your guests will have to bring with them. | | | | would be interested in doing it for you as a |
| I always suggest providing towels, linens, toiletries, | | | | business opportunity for them. Ask other home |
| cleaning service (at their own expense) a washer | | | | owners who they use. |
| dryer, barb-que, beach chairs and cleaning supplies. | | | | Potential problems and how to avoid them: Most |
| Some owners think the renters will “take | | | | owners are concerned about potential damage in |
| home” extra items, but that has never | | | | the home. But, if you take the necessary |
| happened to me. I have included a complete list in | | | | precautions and careful planning, you can avoid |
| my book, “Breaking all the Rules: How to Rent | | | | most of these issues. |
| Your Vacation Home.” | | | | Mistakes people make: They don’t listen to |
| What else to provide: Some owners leave a | | | | new ideas. Some owners are afraid that |
| bottle of wine, or a basket filled with goodies, plus | | | | strangers will ruin their belongings so they |
| brochures for nearby attractions and always | | | | don’t want to update their home. |
| included a Welcome Book with a list of instructions | | | | Tenants: Advertising on the web on several sites |
| on how to use everything in their home and | | | | and creating a unique property listing. What should |
| includes rental rules. | | | | you watch out for? Always follow up with |
| Real estate agent or go it alone? This is strictly a | | | | telephone calls. Check references. And, ask lots of |
| personal preference. If someone were to use a | | | | questions. |
| real estate agent, I would suggest you get some | | | | |