Thursday, August 5, 2010

Maintaining a Vacation Rental Needn't Be a Hassle

Using online ads to locate a renter is easy. Maintaining a vacation rental house is more difficult but can be a win-win for both you and the guest if you keep things simple. Assume this is an investment property which you intend to keep and don't plan for much self-use. You want to create an attractive, comfortable setting for the tenant with the least effort by either of you. And as you are improving your property, ask your tax advisor if there are benefits now and in the future. Invest in extra attic insulation; more than 60% of your heating and cooling escapes through the roof. Change the gutters and offsets with the newest, seamless technology, which prevent drips and will also keep out leaves, debris and unwanted furry visitors. House painting is an expensive, time consuming chore. You can check the classifieds for handymen. But consider vinyl, fade resistant siding-you'll never paint again! Install the latest triple-glazed, windows to further insulate the structure and reduce costs. You will recover them in reduced energy bills in about seven years, excluding tax benefits. Now that you've buttoned up the exterior, let's see what you can do inside.

The interior floor plan will benefit from being uncluttered; laminated surfaces should predominate; the walls should sport light color schemes and paintings. Your new windows will allow for plenty of light, retain cool air in hot weather and keep out the cold in winter. Be sure to include all amenities, appliances and electronics to make your guest's stay more pleasurable. In an accessible spot, place a notebook/binder which contains important information about the premises: This should include emergency numbers of repair men, garbage days, delivery men and neighbors to contact. You can list restaurants, directions to museums and other attractions. Many communities publish yearly booklets which feature classified ads of proprietors and other key numbers. Keep it handy.

Good communication is the key. The more a contract delineates responsibilities the better. An exception can be made for reasonable wear, tear and breakage. But this doesn't include charcoal in the pool filter or stomping Ring-Dings on a brand new sofa. Reach an agreement and later withhold some of the security deposit until you are satisfied with the property's condition. If the renters want to take a non-forgivable option for next season, you can afford to be more lenient. The yardwork, too, can be negotiable (including pool and Jacuzzi if applicable). But it might be better to employ special people for these tasks. The renter will appreciate it, the property will reflect it and so will you when the lease expires. It may cost more but it can be recovered in higher rental fees and a repeat rental. After all, that is the real win-win; it's when owner and guests get the most for their money with as little effort as possible.

To list your vacation house for rent in your area visit OLX's free vacation rental classifieds site. An easy way to find people that are looking for vacation rentals

No comments:

Post a Comment