Vacation rental property-advice

[Mikelly1221]

The DIS is the source of all information, so hopefully someone could help me out!

Our family has a lakehouse in the Central Florida area and we are looking into renting it out for vacations, part-time Florida residents, etc. We're not thinking long term renters/primary residence renters.

Does anyone have any experience in this area? We have zero experience and are just starting the education process. Any advice anyone could give would be greatly appreciated.

We will gone overnight tonight and won't be back until tomorrow afternoon, so if I don't respond immediately, I'm not ignoring you, I'm not home!

Thanks so much!!

 

[Kies99]

The DIS is the source of all information, so hopefully someone could help me out!

Our family has a lakehouse in the Central Florida area and we are looking into renting it out for vacations, part-time Florida residents, etc. We're not thinking long term renters/primary residence renters.

Does anyone have any experience in this area? We have zero experience and are just starting the education process. Any advice anyone could give would be greatly appreciated.

We will gone overnight tonight and won't be back until tomorrow afternoon, so if I don't respond immediately, I'm not ignoring you, I'm not home!

Thanks so much!!

My family has a beach house they rent out. There are various sites they use to advertise:

www.homeaway.com (our place: http://www.homeaway.com/vacation-rental/p193668)

www.vrbo.com (our place: http://www.vrbo.com/51106)

www.cyberrentals.com (our place: http://www.cyberrentals.com/rental/p193668)

Go through these sites and they should give you lots of information on doing it yourself. There are plenty of rental companies that specialize in vacation properties. You should check into those. Be prepared though as they may take a large chunk of the rental fees.

 

[HakunaMatata2]

You should also check with your insurance company and be sure that you are adequately covered for a rental situation.

 

[designermv]

My family has a beach house that we rent out for part of the summer. Kies99 gave you some great links.

Our house is in a very popular summer vacation area, so we use the realtor who sold us the house to manage the property and renting. The agency has a website with all of their vacation rentals, and customers just work with the realtor directly so we don't have to get involved. They take care of everything. If your house is in a fairly popular vacation area, you could probably find a realtor to handle rentals.

Good luck!!

 

[Cheshire Figment]

If it is rented out for more than 14 days per year the Income Tax consequences can get interesting. Especially if you have "personal use" for more than 14 days per year.

 

[browneyes106]

My boss's family owns two cabins in New Mexico. They rent them out to hunters during the hunting season and in the summers hikers rent them out. Like Hakuna mentioned make sure you have good insurance and also look into a lawyer or someone to help you draw up some contracts.

 

[DisneyMomOK]

My family has a beach house they rent out. There are various sites they use to advertise:

www.homeaway.com (our place: http://www.homeaway.com/vacation-rental/p193668)

www.vrbo.com (our place: http://www.vrbo.com/51106)

www.cyberrentals.com (our place: http://www.cyberrentals.com/rental/p193668)

Go through these sites and they should give you lots of information on doing it yourself. There are plenty of rental companies that specialize in vacation properties. You should check into those. Be prepared though as they may take a large chunk of the rental fees.

Just wanted to say, your home is beautiful!

 

[arminnie]

You also need to make sure that there are not any restrictions about short-term rentals in your area.

I have a condo on the parade route on St. Charles in New Orleans. I could rent it out for a fortune during Mardi Gras - except that it is against our homeowner regulations.

 

[Mikelly1221]

I really appreciate everyone's advice-this helps sooo much! Thanks!

I knew the DIS would come through!