# Ever tried offering vacation rentals?



## KrissyFair (Jul 8, 2013)

We're soon going to have the funds to buy what we intend to be our retirement property. The catch is that it's going to be on the other side of the country so we'll only be able to go to it once a year. We have no need to make money off of it, but we're considering renting it out for a couple of reasons. Any income to offset the carrying costs would be nice even if it's not strictly necessary. But mainly, I'm uncomfortable leaving a house vacant 40-odd weeks a year. We could tenant it the traditional way, but then we wouldn't be able to show up for our own vacations.

So my questions are if anyone has done vacation rentals what have your experiences been? And second - is it possible to have it professionally managed since we're not there to do it? Again, it's not required to make money.


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## the-royal-mail (Dec 11, 2009)

Instead of buying this place can you not just save and invest the money and travel to that part of the country whenever you like, obligation free? Having such an illiquid and remote asset strikes me as more of a liability than anything else. Why bother?


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## KrissyFair (Jul 8, 2013)

There are a bunch of reasons why buying the property now makes sense for us. Not the least of which is that we're looking on the west coast for a sizable chunk of land. We know we can obtain it now and the size and quality of the land is our priority since we intend to live on it for a good chunk of our lives. My gut tells me that 15 years from now we'll get a lot less value for our money in that part of the country. I'm sure we could get better return in something else, but that's not our priority. 

And like I said, we could buy it and leave it vacant and pay the tax no problem I just thought I'd check out other possibilities.


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## kcowan (Jul 1, 2010)

I think you should try renting there through local agencies. This should give you confidence (or not) in the local property managers. My son rents his place in Prince Edward County with great success. But they do the property management because they live half hour away.

I am looking for a new tenant this winter and am quickly gaining knowledge about the online resources for long-term furnished rentals (minimum 1 month). The long term aspects reduces the hassle of property management.


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## Hawkdog (Oct 26, 2012)

Where are you looking at purchasing, is it a popular vacation spot? If so there will likely be a property mgmt company that would look after the rentals for you, just make sure to get references to check first to see if they actually do more than just collect the rent.

If its a popular spot there could be a website with cabins.
Here is an example:
http://www.shuswapvacations.com/cabins.htm

1500 for a week during the peak season!


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## Mall Guy (Sep 14, 2011)

Check out http://www.vrbo.com/ and https://www.airbnb.ca/ I have rented several places from remote owners this way (will be renting a cottage on PEI from an owner in Western Canada next month). The secrete seems to be arranging a strong team on the ground, either through a management company, or at the very least, a handyman and cleaning lady OR TOO BE PC a handylady and cleaning man.

Vacant for 40 weeks . . . is just asking for trouble and maybe an insurance concern !


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## KrissyFair (Jul 8, 2013)

Thanks everyone. So all in all I gather it's not a totally ludicrous idea. And it's good to know it's not a total nightmare to deal with renters. We've rented places off of those sites before and never had a problem from that end either.

@Mall Guy.... ya, vacant all year long... I'm thinking the _best_ case scenario is that we'd show up to find some furry tenants who didn't sign a lease. Never mind surprises we might get from unauthorized two-legged users.


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## Mall Guy (Sep 14, 2011)

yup, my thoughts exactly . . .


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