Making Vacation Rentals Work for You!

So, you've vacationed on the Alabama/Florida Gulf Coast and you LOVE it! You'd like to have a place to call your own but not sure how you justify the expense of maintaining a second home...

If this sounds familiar I have some great news for you!  Five words...  Offset expenses with vacation rentals.

1.  It all starts with finding the right balance between price, features your family wants/needs, and what will make a good rental.  You need a knowledgeable real estate professional who will listen to your wants and needs, understand your budget and financial goals, and recommend the properties that are the best fit all things considered.  Knowledge of the market and vacation rentals is crucial.  For instance, did you know?

•         - One bedroom condos can, often times, gross more rental income than two bedrooms?
•         - Being dog-friendly can increase your gross income by 25-30%?
•         - Some condos have re-occurring assessments in addition to COA dues to cover building and common area insurance each year?
•         - Do you know what the one amenity is that is likely to keep your condo booked more frequently? (I do!)
  

2.  Our team can provide you an income and expense analysis to give you a very good idea what your monthly net gain or loss will be.  Expenses such as COA/HOA dues, utilities, insurance, and taxes are fixed.  But others such as rental income, commission to a management company, and your initial down payment are variables you can adjust to meet your cash flow goal.

3.  Choosing a vacation rental management partner can be a life changing decision.  Kidding, not kidding! Choose wisely to avoid long-term frustration.  Many vacation rental companies have a hard time doing 'doing it all'.  Some focus more on services like housekeeping and maintenance while others invest more money and energy into marketing and maximizing income.  They all have different operational structures and different pricing strategies.  Definitely a lot to consider.

Thinking about handling rentals yourself?  This can definitely be a way to reduce expenses.  The cost of your time should be a consideration.  You will invest a significant amount of it.  Renting on your own brings to mind a whole different list of advantages, disadvantages, and considerations.  We'll save that for another day.

Our team is here to help you!  If we haven't already, let's talk about your needs and financial goals, discuss the best options, provide you with some ROI analysis, and set up your automated customized list of properties.  When the time comes, we can also help you find the best rental management partner! Call or email us anytime.