VACATION RENTAL TIPS FOR OWNERS
Pros and cons of renting your second home
These pros and cons are just the tip of the iceberg of vacation rental tips for owners. But the most important piece of advice we can offer: Do the math.
Determine how much you’ll pay for maintenance, utilities, taxes, insurance, repairs and amenities. Add more for preventive maintenance, cosmetic updates and wear and tear. If you opt for a property management company, factor in their fee. Then offset that with how much you can reasonably expect to see in rental income.
A conversation with your financial advisor is a good place to start. They know your financial situation and can help you consider all the factors when making a decision.