Make sure you can afford the payments, utilities, insurance, and upkeep when it is not rented.

In the southeast U.S. there are many attractive places to have a condo, or home on the beach. However, that beach property is only in season as a rental certain times of the year. The rest of the time you just pay.

-There are monthly condo fees, that go on whether it is being used or not.
-Mortgage payments continue on.
-Utilities to some degree continue.
-Rental agency fees are deducted from rental income.
-Cleaning fees.
-Repair and upkeep costs.
-”Mother Nature” blowing plans to rent for that period.
-Insurance fees

The last one is a big one. After every major storm, insurance fees triple, or even higher for the beach areas. Your profit disappears. If you are in the mind set of purchasing a place because you will be retiring there some day, and you just want to rent it out to help a little with the payments until then, it may be a good idea. Just be cautioned of the business expenses that will be involved. Do not cut yourself too short, in order to allow for the expenses, and non – rental times.

Kathleen Couch who also goes by the pen name of Purple Leaf has written a variety of articles. She has gained expertise in many areas by having rich and fulfilling life experiences. You may read more of her articles at this site: http://www.helium.com/user/show/32788

2. Get References: Ask your renters if they ever rented in your area. Don’t forget to check their references. If they do not have any from vacation homes they have rented, perhaps they can give you the name of their current or past landlord.

3. Deposits: Get a security deposit with enough value that your renter will want to keep your place clean and damage free. If there is enough at risk, they will not want to take any chances of losing it.

4. Rules Agreement: It is important to send a rules agreement for the renters to sign at the same time they are signing a renter’s agreement. By doing this, they will know upfront what is expected of them. And, it gives them a way out if they don’t agree with your expectations.

5. Advertising: The internet has the largest audience. You will eliminate the possibility of not collecting your rental fee if you advertise online with more advanced websites who are designed to assist you with online credit payments.*

6. Hire a House Keeper: There are several ways to finding the perfect house keeper. One of my favorites is to find a person who lives close to your property and is looking for a way to earn extra cash. Pay them well. After all they are protecting your investment. This will make it convenient when you find yourself needing someone to check up on your house because of the recent rain storm or to check on a window that someone may have left open.

7. Business Cards: A great way to spread the word around. Make personalized business cards and pass them around. Let your family and friends know that you are looking for good, qualified renters. To lower production costs create them on your computer and print them like a pro.

http://www.howtorentvacationhomes.com

Marie R. Ferguson, author of Breaking all the Rules: How to Rent Your Vacation Home. A New, Innovative Tool on how to prepare, manage, advertise, screening, pricing and maintaining your vacation home rental. Free Welcome Book available. Free Advice Offer.

For more information go to Marie’s web site at http://www.howtorentvacationhomes.com

Or email Marie at info@howtorentvacationhomes.com

Absolutely. I have a friend with a second home in Idaho. They have a beautiful home on a small ranch that is for Christmas and summers. Its a short hop from northern California and its a beautiful state with inexpensive land values. They got a lot of land, great views and space for a very affordable price….at least to us Californians!

After being away from the ranch for most of the winter, the family arrived only to find that there had been a leak in the kitchen which had dripped for many months. Well, you can imagine the damage. The leak had wended its way from the P trap below the kitchen sink to flood the lino floors. It then slowly worked its way into the hallway and the floor boards of the first bathroom. The damage was extensive.

The Damage

First the lino had begun to lift up and the floor boards below were wet and molding. The lino had to be removed and the floor boards had to dry. Then a mold cleaner was professionally applied by a local company to be sure the family wasnt exposed.

Then the floor boards in the hallway had to be replaced because they were thoroughly wet and moldy. They would no longer lay flat and simply had to be pulled up and new boards laid down.

The entire house had a wet damp smell that would not go away. A wonderful family experience was ruined because they did not have anyone watching the home during their long periods of absence

The Cure

Get a property manager. There are companies that offer management for vacation homes. They do manage a little differently, because they are vacant for long periods and therefore they must be visited. Property management firms in rural or vacation areas have services designed to deal with the vacation homes special needs. In addition to all the general property management needs all properties require

1. Find one that will visit the property bi weekly
2. Be sure they will visit before and after all major storms to be sure the house is shuttered and that any damage can be assessed and taken care of immediately.
3. Repairs: Be sure to have a cap on all repairs. Any major expenses should be approved and you should be sent receipts for any work done above the allowed amount. Try to keep the amount that does not need your approval below $750.00
3.Vacation Home Rentals: Vacation home property managers will manage holiday or off season rentals by the week or weekend. Some are set up to book rentals for you. You can expect some kind of revenue share or flat fee service, but it may be worth it.
4.Be sure they will provide cleaning services and schedule maintenance

And Buy These Tools

CO Monitor
A CO monitor will help you protect your family from the damaging effects of carbon monoxide and give you the peace of mind in knowing that you are doing your part to protect your family. Low prices on individual carbon monoxide monitors.They genreally run about $50 and can save a life. Having one of thesse in your second home is wise since the system may only be used for a few months a year and can become faulty without your knowledge.

Water Shut Off Valve
Sophisticated water-sensor systems automatically shut off the water supply to a specific appliance or to the entire house when a leak is detected. Basically, they sense when the flow of water is high and will shut off the water to prevent a prolonged leak when no one is living there. Some can be installed by a home owner; for others, a plumber must install the special valves and an electrician must wire the sensors.

Web Based Video Cams
With an internet based video cam installed in your vacation home, you can monitor for break ins and have piece of mind.

Howard Bell for yourpropertypath.com

www.yourpropertypath.com We believe that knowledge should be free and freely shared.

When done well, preparing your vacation property for rental is an art. Lots of people do it, but if you are one of those people who do it with style you’ll see bigger and better returns, especially in a busy market. Like staging a home for sale, with a little effort you can create an inviting environment for your renters.

The first thing to decide is how often and how long you plan to rent your place for. If you use the property for part of the year (e.g. you holiday every summer) you may want to look for longer term tenants. Choosing longer term tenants will save you money for cleaning fees, but the wear and tear may go up. In a longer term situation you may choose not to furnish your property, although you will probably get a better rate if you offer it at least mostly furnished. That said, with longer rentals (more than a month) you are more of a landlord than a host.

If you are going to be renting on a nightly, three-night minimum, or weekly basis, you should consider yourself a host who will play a large role in determining your guests’ experience. You need to give more attention to presentation and details.

Furnishing the property is an art in itself. Think about the type of crowd you want to attract – a tastefully decorated apartment with quality furnishings will draw a higher price than something that is mis-mashed together (unless you have a real knack and can pull off the flea market/Boho chic look). There are many average vacation suites available – why not make yours stand out? Choose interesting color schemes – color appeals to people. Neutral paints may seem more attractive, and are generally a good choice, especially in rooms with less light (although they do show dirt, so make sure you have a good cleaner). But don’t be boring – choose a bold accent wall or bright accessories to liven things up. Look at decorating magazines or hire a professional designer to help you.

Think about the details. The little, luxurious details will charm your visitors, guaranteeing repeat clients and word-of-mouth advertising. Buy quality bedding. Provide candles and candle holders (with the added bonus of saving you potential damage if the renter brought candles with nothing to put them in). Think about entertainment: provide a stereo (with a jack to connect an MP3 player), a couple of board games (Scrabble is a treasured standard), and some reading material. Why not give it a personalized touch – include books about area’s wildlife, history, or landmarks. Supply local maps. Does your family adore a particular local restaurant? Why not share your top picks with your guests? A list of local amenities and special events is really helpful. A DVD player is a necessity – combine it with a few classic titles in case of a rainy day. Speaking of rain, if rain is common in your area, add an umbrella to the coat closet. It’s a little thing that could mean a big deal if your renters are caught out.

Choose quality toiletries – botanical or naturally scented options are good options, especially for those who may have reactions to synthetic fragrances.

When you are deciding on dishes remember that heavier dishware is more durable, but you should also have nice wine glasses on hand. Though non-stick cookware may be cheaper, it only takes one renter with a fork to ruin your nicest pan. A heavy stainless steel, cast iron or copper will last longer.

If you have the space and budget, there are some site-specific features that might make sense. A pair of bikes or flippers and beach towels are the types of details that will elicit delight in your guests.

Although these upgrades may cost a bit of money in the beginning, this process is similar to staging your home for a sale– you outlay some funds to increase your return overall. When you have finished your decorating be sure to take lots of good photos, after all a picture is worth a thousand words. Find a reliable cleaner who will scrub the place spotless between visitors (and remember to reward them for doing so). Ask your guests for feedback – their input will ensure that your suite is creating the experience they’re looking for, thus giving you the business you’re looking for.

Preston Guyton is a professional Myrtle Beach Area Realtor® dedicated to building lasting relationships with his clients. For more information on real estate in the Myrtle Beach Area, home of AOL’s top searched beach, visit Preston online at http://www.prestonguyton.com