Leasing Your Second Home
June 30, 2011
According to the latest Vacation Lodging Demand Index report conducted by LeisureLInk (a national management company that tracks vacation trends), vacation homes are becoming more popular than ever before. Last year, the demand for vacation home rentals rose an average of 22% for coastal properties.
These days, more families are looking for that “home away from home” feeling with the added touch of luxury that can be only be found in a vacation home rental. This is good news for 2nd homeowners who want to rent out their second home when they aren’t using it themselves. Vacation home owners can bring in extra income and can even cover their mortgage by just renting their home for as little as 12 weeks during peak season. Leasing your home can also be fun, where you can meet new people from around the world and make lifelong friends.
It is important to do your research and get all the details in place before you rent. www.HomeAway.com offers a free information packet that covers all the steps toward renting your home successfully.
Before you begin, be sure to talk to your REALTOR® about the pros and cons of renting your vacation home, to see if it will work for you.
For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or 305-960-2575, or come by the office at 355 Alhambra Circle, 9th Floor, in Coral Gables.
