Ok well now you’ve just purchase your fabulous vacation rental in Florida, maybe South Carolina or a holiday rental in Spain. It may be a chalet on the ski slopes, a condominium on the ocean, a log cabin in the mountains, a lovely cottage on the lake or villa in Florida. Your plan if you are like most real estate investors or vacation rental owners, is to use the property yourself for a couple of weeks out of the year and rent it out for the rest of the time. You already know that you needed someone to sort out the details for the rest of the year. Knowing you need someone to help you get rentals and keep up the home, you probably have looked into or you might have already hired a property manager for your rental.
Your living the dream and I applaud you
Now let us get into some numbers if you have a mortgage on your rental property of let’s just say $1600 as an example. You also have probably considered some type of rental rate or weekly return you could receive per rental bookings let’s just say $1400 per week you could bring in. If you only rented the vacation rental home out for just half the month that’s $2800 your going to make a good return, right?
It depends…There are so many other variables such as, what are your fees and costs monthly. On top of your regular monthly mortgage payment you will have light, water, taxes, internet, cable, phone, taxes, maintenance, commissions, repairs and management fees. You will also have to furnish your vacation rental vhome.
You will need to maximize the opportunities you have with owning a vacation rental home so you can get the maximum return as efficiently as possible
How do you maximize your holiday home and vacation rentals return & stability?
You have to get your own bookings, it is your single largest opportunity which will help even out the scales in your favor.