So you’ve decided to embark on the adventure that is owning a vacation rental. Congratulations! You’ve made the first big step into a serious investment. Before you embark single-handedly into the murky waters of rental home management, ask yourself this: do you have the time, energy, and inside knowledge of the vacation rental market to make this a worthwhile venture? If the answer is no, then consider hiring a vacation rental management agency.
The Pros and Cons of Owning a Vacation Rental
The biggest pro of owning a vacation rental is obvious: renting your second home can help pay a significant portion of the mortgage of the property. If the home is already paid off, you can put that money straight into your pocket. What could be better than that?
On the cons side, it can be a risk to rent your home to strangers. The easy solution to that, however, is renting your home with an agency like Finger Lakes Premier Properties. We have a property protection program that can cover the cost of many of the accidental damage, as well as a policy that allows us to charge the guest for any larger issues. As an added bonus, 60 percent of Finger Lakes Premier Properties’ clients are repeat guests. These are the guests you can renting with you, as you can expect them to treat your home with care.
How to Make Money on a Vacation Rental Property
Before we can worry about the quality of guests, we need to find some! If you’re not experienced with marketing, booking with a vacation rental agency can help you learn. Aside from listing your property on our site, you can learn from our knowledgeable staff how to gain market exposure. As time passes, you can achieve an 80 to 100-percent occupancy during the peak season. We can help you make that gain!
You Don’t Have to Lose Control
Just because you hire a vacation rental management company doesn’t mean you lose the power to make the important decisions about your home. While we will help you decide you rental rate, you will make the final decision. We are up-front with any costs that may occur, including maintenance and housekeeping. You are welcome to use a contracted housekeeping and maintenance company, though we do offer in-house service that is available 24/7. No matter what, we will never issue work orders to your home in excess of $200 without your prior consent.
List Your Home Through Finger Lakes Premier Properties
So whether you’re planning on buying a property to rent out or looking for a way to make some money on your investment, we can help you navigate the ins and outs of owning a vacation rental. We are passionate about finding the best guests for all of our listings. Find out for yourself why we have long-lasting relationships with our homeowners.
Do you have any questions? Are you ready to get started? Get in contact with us today and start your investment journey!