How to Rent Off-season Vacation Homes

Physician's Money Digest, February 2007, Volume 14, Issue 2

Wall Street

Journal

Journal

Renting out a vacation home can beextremely profitable for about 3 monthsduring peak season. During the rest of theyear, rentals often remain empty and costthe owner maintenance expenses. Accordingto a recent article in the , renting a vacation home throughoutthe off-season can be done with a littlecreativity. Dropping the rental price can bea quick way to attract renters, but the articlewarns about dropping the price too low.Very low prices could suggest that the propertyis in poor shape or has limited accommodations.Dropping the price 30% to 50%would suffice. And packaging a vacationhome as a "holiday special" can draw vacationersduring special events or weekendgetaways. The also suggests lookingfor monthly or long-term renters duringthe off-season, such as college studentsor families during relocation, to generatea steady income. Also, be welcomingto pets or children. Animal-and children-saferentals are difficult to find. Purchasingcabinet locks, a crib, and basic pet amenitiescan be a valuable investment. Charging anextra $20 a night for a pet is less than theowner would spend boarding the animal forthe duration and puts a couple of extrabucks in your pocket.