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Short-term Returns

Should I court short-term renters for my ski town condo?

  • Short-term is the only way to go!

    Votes: 4 80.0%
  • No way!

    Votes: 0 0.0%
  • Maybe. [please explain]

    Votes: 1 20.0%

  • Total voters
    5

PEERless

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I wonder if anyone has experience with renting short-term in resort/vacation areas. I have a one-bedroom in a ski town, and I am considering marketing it to both vacationers and to locals.

Wondering if anyone can walk me through the cost/benefit of furnishing or not and managing vacation rentals. Thanks in advance.
 
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hakrjak

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I believe the property managers will charge between 40-50% on your returns, but for that fee they will be over there often, changing the sheets and getting the place cleaned, etc for you....

Depending on the town, you can keep it rented pretty easily in the high season -- but it depends on your personal situation whether you can cashflow or not. It sounds like you own this place for your personal use, so any money you make off of it will be gravy?

Cheers,

- Hakrjak
 

PEERless

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Are you talking about something like this?
Yeah, that's a good resource, thank you!
I believe the property managers will charge between 40-50% on your returns...
Actually, I was considering managing it myself. :blush:
...It sounds like you own this place for your personal use, so any money you make off of it will be gravy?
Yeah, it's my first RE investment, but I didn't do a Cash-over-cash analysis first. I'm sure it'll appreciate, but it'll take some voodoo to make this baby -flow.
 
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hakrjak

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So you live the resort town where your resort property is? Sounds good... why not take it one step further and manage some other people's too? :) Good money to be made out there.... And then you can direct clients away from other people's units to yours first! hehe

- Hakrjak
 

PEERless

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So you live the resort town where your resort property is? Sounds good... why not take it one step further and manage some other people's too?

Yeah, I live in Jackson Hole, but my condo is twenty minutes away by Targhee. Pretty easy to keep an eye on things. Actually, even better than being a property manager, I'm a live-in caretaker which frees up cash for investing.
 

PEERless

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why not take it one step further and manage some other people's too? :) Good money to be made out there.... And then you can direct clients away from other people's units to yours first!
After a re-read, I'm liking this idea more and more...
 
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