These days, many second homeowners are looking to get their dollar to go a little far and cut back some over head. Second homeowners are looking at the once frightening option of renting their second home out to travelers from around the world. This option is enabling owners to turn their home from a liability to a cash flowing asset, which many of us are looking for right now.
With the internet marketing movement, several owners now have the ability to market their properties from the comfort of their homes to owners form around the world. Companies like Vacation Rentals By Owner (VRBO) offer hosting services to homeowners in which you can pay a yearly fee and upload a personal listing to your home for travelers around the world to see. For less than $1000 a year you can earn tens of thousands a year in booking fees.
Although companies like VRBO make renting your second home a cost effective solution, owners are still faced with many challenges such as coordinating cleaning, hot tub services, quality control and on call services for their guests. Nonetheless, VRBO has created a situation here owners can do some of the work themselves (placing ads, marketing, etc.) and employ a local resources and save them self 20% + in management fees! In this economy, full service property managers are hurting because owners realize with as little as a couple hours a week can save thousands a year!
So – our advice for you!? Find a local company that can help you manage your bookings and offer quality control for you and your guests while you sit back and manage a several thousand dollar cash flowing asset from anywhere in the world so long as you have an Internet connection and a phone. Another company that is about to rise up into this industry and offer a new service for owners fit perfectly for the future of this industry is Vacation Rental Partner or VR Partner. Vr Partner, like VRBO is primarily targeted for owners looking to manage their reservations themselves without the headaches of processing credit cards, managing an availability calendar, and cont
acting all the parties involved to make a booking go smoothly and problem free. Unlike VRBO though, VR Partner offers many solutions to vacation rental industry service providers!
Its a tough world out there, but with a little bit of research, and some honest service providers, you can create a comfortable situation for managing your home! Best of luck
CFtags:Lake Tahoe Homes, Property Management, Rental Properties, VRBO