| You own a vacation home and you are thinking | | | | 10. Know when to say no to renters. |
| about becoming a Rent by Owner landlord. If you | | | | If you have the answers to all of the above, you |
| are like most people, then you probably think it is | | | | are on your way to becoming a successful |
| a "piece of cake." However, that is not necessarily | | | | landlord for short term rentals. Many homeowners |
| true. It may be easy to collect the rent, but it is a | | | | get blind sighted by the income that a vacation |
| whole different story when it comes to protecting | | | | home rental can produce. They think all you need |
| your property. To keep your vacation home in | | | | to do is find the renters who are willing to give |
| good order, it takes a good, solid plan to follow. | | | | them money for the use of their home. Then, |
| There are many things to think about before you | | | | when the renters return the key, the homeowner |
| begin renting. | | | | finds damage to their property, a dirty house, |
| Here's what you need to do to get started: | | | | uncared for, broken items and much more. It can |
| 1. Create a system that works. | | | | be devastating if it is not handled correctly. |
| 2. Learn how to find the right housekeeper for | | | | That is why it is important to carefully plan a |
| you. | | | | system and follow it with each and every renter. |
| 3. Create a winning property listing. | | | | Even when you rent to your family or friends, |
| 4. Learn how to advertise on a small budget. | | | | your system should be followed. If you plan |
| 5. Prepare your vacation rental for renters. | | | | ahead, you will reduce the chance of possible |
| 6. Start a bookkeeping system that is easy to | | | | damage. And it will help eliminate any surprises. |
| follow. | | | | Renting out your vacation home should be a |
| 7. Begin circulating your product. | | | | rewarding experience, where you can generate |
| 8. Take necessary steps to reduce possible | | | | enough money to cover your expenses and |
| property damage. | | | | hopefully more. It can provide new friendships and |
| 9. Learn how to price your rental and manage | | | | a new sense of pride. And, all it takes is careful |
| security deposits. | | | | planning. |