1. The mortgage is putting a crater in your wallet even though
second home. Many second home owners turn to renting th
vacation rental to help defray the costs of ownership. How
vacation home rental without overcharging but making eno
costs? Do your research.
2. There are other owners of similar sized homes in the area a
find out what they are charging. You can scan the local pap
even ask a local real estate agent for a price range. eVaca.com
one of the many vacation rental sites you can check ou
advertisements from owners around the world in these type
a list of the weekly rates for the properties
3. The time of the year to rent out a property is another imp
consider. January will be your high time of the year instead
August if you want to rent out a ski lodge in Vermont. If you
the property in an "off" time of year you will not be able to c
you were renting the property in a peak tim
4. You also want to figure out what lengths you want to rent y
Going for top dollar for a week is a Florida property in July
However, that same property in January you might only attr
who want to rent at a lower price and rent it out on a month
to answer questions like, "do I want to mess around with w
rentals" and "is it worth the hassle".
5. You should try to determine how many weeks you need to re
order to make a profit or at least pay the bills. Perhaps $12,0
income is what you are required to make. You need to rent th
12 weeks a year if you noticed, after you have looked at the
a rate of maybe $1,000 a week seems more reasonable. But
rent for a few more weeks at a lower rate to make up for "o
the year or if you do not get someone to fill every vac
6. Most important, do not forget to spend time in your own
Owning the property and not being able to enjoy it defeat
having that second home!