Are You Ready to Buy a Vacation Home Rental

Renting your vacation home can be a good way to defer expenses on your mountain “get away” property. If you choose to rent your property at Big Canoe, you have a choice of rental companies who can handle every detail of the process or you can take the do it yourself approach and handle the rental yourself. Listing your home with a rental agency is the easiest method but does not bring the best return on your investment as the rental fees eat into profits. If you do decide to handle the rental yourself, there are some things you need to consider.

It’s important to recognize that your vacation rental is not going to be a “get-rich-quick” opportunity. The most profitable vacation rental owners focus on the long-term potential for profiting from their vacation homes.

Do you have a few extra hours a week to spare? That’s about how much it takes to manage your property during peak season, which in Big Canoe is summer and fall The job involves answering inquiries, taking reservations, and managing cleaning staff.

Managing a vacation rental is nothing like being a full-time landlord. You won’t have tenants with year-long leases. Your guests will be gone in a week or two so every week presents a new opportunity to be successful and impress new guests. You have to be ready to meet that challenge head-on.
You need to be detail oriented, if you’re going to be a good vacation homeowner. Guests expect a certain level of quality so be prepared to regularly visit your property to make sure your on-site staff is keeping it in excellent shape and to freshen it up as needed.
Fortunately, you don’t have to be a professional marketer to market your property. Just as fortunately, the days of old-school newspaper advertising are over with internet rental sites being the best way to advertise your property.

With internet inquiries you have to grab opportunities right away.Potential renters will more than likely inquire about more than one property, and in order to be the owner who closes the deal, you have to be the first to return the call.

Building trust is a huge factor in the vacation rental industry. Making people comfortable when they are renting your home is a must. Satisfied renters will, in turn, tell their friends about your property helping you build a repeat client list.

If you’re a long-distance vacation rental owner, you must be prepared to hire and manage a productive “staff”—which means housekeepers, plumbers, and so forth. Building a great staff and making sure they understand what you want to achieve with each guest will ease your anxiety and make your renting experience truly enjoyable. Contact me for a list of Big Canoe mountain homes with rental potential and for an overview of the Big Canoe vacation rental market.