My Second Home – Should I Bother to Rent it to Holiday Makers?

My Second Home – Should I Bother to Rent it to Holiday Makers? post thumbnail image

Having a second home to go to for your holidays is a wonderful facility that is becoming more and more expensive to maintain, but still worth it.

What if one could painlessly allow strangers to pay what might seem like indecent amounts of money to rent your home when you don’t need it and then they left it as they found it, clean and unspoiled? Would that be desirable?

The trick to achieving this is to know how to screen your guests, what to charge and how manage your home so that when you do arrive, you too can be on holiday and not be cleaning up the messes of others and arranging repairs.

What if by doing this, you could bring in enough money that the home stopped costing out-of-pocket money to maintain? What would this mean? For one, the taxman would treat your home as a business, which means that all of the maintenance fees would come out of your rental income and you wouldn’t be paying taxes on this income. That way, you would be free to spend your taxable income on other things, maybe even improving the property and increasing its value and the pleasure that it can give you, your family and friends.

If you are a “people person”, you might enjoy getting to know new people, maintaining a relationship with them and having them come back each year. Many holiday-makers are “creatures of habit” and once they find a place that they enjoy visiting, they come back year after year.

If you thus turn your home into a business, with a list of customers and accounts, showing what your home produces in terms of income each year, don’t you think that you could realize more for your property, when you do eventually sell it? There are now on-line sites where you can sell income-making holiday rentals yourself without giving up a commission and you might be able to sell to one of your previous customers.

Claire Lore, a holiday rental consultant, assists clients to rapidly and smoothly break into the holiday rental market with an existing or future property. She can teach or arrange everything so that the property could be rented out and generating income in a matter of days. Click on [] for more information and sign up for a free personalized analysis of your property.

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