| Do you find yourself not using that golf course | | | | rates for peak season. |
| cottage or mountain ski lodge as often as you | | | | Advertise! |
| might? However, you just cannot bring yourself | | | | List it and they will come. Take advantage of all |
| to put it up for sale because the property has | | | | avenues to advertise your vacation home. The |
| been in your family for generations. Or maybe its | | | | Internet is one of the most important ways, but |
| value continues to skyrocket. No matter the | | | | often not the only way to rent your property. |
| reason, you may want consider renting your | | | | Local classified ads, real estate agents and even |
| vacation home. Renting is a great way to offset | | | | the Chamber of Commerce are often untapped |
| the mortgage, maintenance costs and taxes | | | | resources for landlords. |
| incurred. If you are shrewd, renting your vacation | | | | The Renters |
| home can turn a negative into a positive cash | | | | As a new landlord, you may be subject to state |
| flow. | | | | and local laws that govern renting your vacation |
| Rental Price | | | | home. Check with the state attorney general and |
| Are you ready to do some research? The | | | | the local Chamber of Commerce for any |
| number one error made by families new to | | | | regulations that may apply. |
| renting their vacation homes is setting a rate | | | | Establish rules for prospective tenants. |
| competitive in their market. A good rule of thumb | | | | Communicate these clearly in your listing and |
| is to use your monthly mortgage payment as a | | | | reiterate it to them when the guests arrive. List |
| weekly rental fee. After 12 weeks of renting out | | | | these expectations in the rental agreement to |
| your vacation home, you have paid the mortgage | | | | protect yourself and your investment. |
| for the entire year. Incidental costs vary, so you | | | | Be sure to post contact information for you, your |
| may have to rent the property for another four | | | | repair person and cleaning service in several |
| weeks to pay for those expenses. Now that you | | | | obvious places throughout the residence. Numbers |
| have the amount you would like to charge, | | | | for police, fire and medical services are always a |
| compare it with other rental prices in your | | | | good idea. Finally, make sure to designate an |
| community for a similar property. Pay attention to | | | | emergency contact to handle issues if the renters |
| special amenities, proximity to attractions and | | | | cannot reach you. |