Lake home sellers differ from those in other markets for many reasons. Lake Homes Realty’s CEO, Glenn Phillips, shares the most significant factors to consider before searching for your dream lake home. Understanding the demographics of the lake real estate market will help your chances of buying your dream home on the lake!
Lake home buyers differ greatly from their residential counterparts. Lake Homes Realty’s CEO, Glenn Phillips, breaks down the traits of these types of buyers. The best way to cater to a potential lake home buyer is to understand their behaviors and what they want in their dream home. This insight should make your real estate journey much smoother!
Multiple streams of income are essential, and renting out real estate properties is a classic investment venture. Lake Homes Realty’s CEO, Glenn Phillips, shares 4 risks to consider before buying a lake home to rent. 1. HOA Rules: Relying on the homeowner or real estate agent to communicate the HOA rule can lead to a misunderstanding. To ensure you have the most up-to-date information, contact the HOA directly. 2. City and County Laws: Similar to HOA rules, the city/county themselves may have restrictions you need to be privy to before you invest in a lake home. There may be laws…
Airbnb is an online network where people can lease or rent short-term lodging in private homes. The company was started in San Francisco by two roommates who wanted to “just make a few bucks” by renting out their apartment like a bed and breakfast, hence, the “bnb” part of Airbnb. Today, it is the most popular and fastest growing individual vacation rental website in the world! Almost anyone can be a host on Airbnb, which allows people to utilize their spare homes or rooms to earn extra income. The host sets the price for the space, and renters pay for…
You have to admit, your vacation lake home is your little piece of paradise. It’s the spot you escape to in the summer. But now it’s time for closing it up for a long cold winter. The idea of it sitting there until spring sometimes raises a little concern. So, have you considered renting it out while you’re gone? Here are some essential marketing strategies for finding tenants. Find Your Target Audience First and foremost you’ll need to know what type of people want to come to your lake home in the winter, when you’re heading away from it. Not…
Many renters invite guests to document their stay in welcome book to your vacation rental home, but these books are not just for the homeowners to keep track of who has visited. Welcome books are great ways to offer services to your renters by providing them with a list of local restaurants, attractions, sites and other area activities. This welcome packet will also help answer any questions vacationers may have in regards to the home and its amenities. This is good for both you as the homeowner, and the renters as it will eliminate any unnecessary phone calls from your…
As of today, there are many companies that will help you turn your home into a vacation rental getaway. They specialize in helping you rent your lake home for others on vacation. They take away the hassle that is typically included in doing this. However, if you want to do this yourself, there is a process in which you should follow. Here listed are the steps to follow to make it easier for you. Question 1: Is your property a good vacation spot? You will need to check and see if it is legal for your home to be used as a…
There are many pros to renting out your lake home, as we previously discussed. However, it is best to know all of the details. There are also cons to renting out your home, and you should consider all aspects of the situation before you make a decision. No Vacations Last Minute You will have black out dates, which are expected when renting out your lake home. These dates are when you will be visiting the home and enjoying your time. However, when you are renting out the lake home, you will not be able to make a split decision on a…
There is no better place to take your family during the summer months than to enjoy it at a lake house. You will have no problems renting out your lake home for winter either. Along with renting out your lake home, you will be taking on a lot of different benefits. Here is a list of amazing pros of renting out your lake home. Extra Income When renting out your home, you will make extra income you did not have before. This can help cover the house payment, as well as other bills. If you are making payments on the mortgage of…
