When you first purchased your vacation home, you were probably really excited about the idea of having a home away from home. However, now you might be worried about things like how much it’s costing you, or you could be concerned about it sitting there unused when you and your family are not able to visit. Even though you might be concerned about these things, though, you may not want to sell it or rent it out to long-term tenants, since you may still want to keep the property and be able to use it any time that you want to. Luckily, you do have an option: renting it out to short-term renters.
- It’s Easier Than You Think
If you are nervous about renting out your vacation home to short-term renters, you should know that it’s not as difficult or time-consuming as you might think. There are sites out there that you can use to advertise and book your short-term renters, for example, and when you choose one that works for you, this website should help with most of the work. You can also consider working with a property manager in the local area where your rental is located; in tourist locations, many property managers are accustomed to helping with short-term rental situations.
- It Can Help You Recoup Costs
You might have spent a lot of money on your vacation home when you purchased it. Along with paying a lot in a monthly mortgage, you also have to worry about taxes, utilities, insurance and more. All of these costs can really add up and can take away from the fun of owning a vacation home in the first place.
One good way that you can help offset these costs is to rent your vacation home out to short-term renters when you aren’t going to be using it. You might be surprised by how much some people will be willing to pay in order to stay in your home for a few days or a week, and if you wouldn’t be using it anyway, it’s nothing but pure profit for the most part. Plus, it can be a win-win for the people who are renting as well, since they may be able to score a lower price than if they had stayed in a hotel, and they will be able to enjoy a more at-home experience when they are on vacation.
- Prevent Crimes
One thing that you might be concerned about is leaving your vacation home empty for days, weeks or even months at a time when you aren’t able to use it. During this time, you might be worried about someone breaking into it or vandalizing it. Luckily, this is much less of a concern when other people are staying there frequently. Since the house won’t look empty or abandoned, would-be criminals might be more likely to walk away.
As you can see, there are many benefits to renting out your vacation home to short-term renters. These are just a few reasons why you may want to consider doing your research about this option.