Buying a Vacation Rental Property

The best location for a vacation rental is an area often visited by tourists. If you have an area in mind, contact us and we can put you in touch with an experienced and qualified local Real Estate Agent!

Things to consider when buying a Vacation Rental Property:

• Calculate cost and income potential

• Consider insurance, HOA fees, hotel taxes, property taxes, mortgage payments, rental income taxes and management fees.

• Most income property loans will require at least 25% down and financing rates can make or break positive cash flow.

• Consider cleaning services, maintenance, exterior landscaping and repairs.

• Vacation rental websites charge a referral fee but can boost your exposure and thus your income.

• In some areas it will be better to purchase a condo, than a single family detached home, because many associations will have pools and clubhouses and other entertainment not available with a home!

• Check association bylaws and rules and regulations concerning minimal rental periods if any, which may have a dramatic effect on occupancy and market ability.

Contact Craig or Rachel if you are in the market to purchase a Vacation Rental Property!