Profiting Off of Other People’s Sabbaticals

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A National Association of Realtors survey shows that less than a quarter of vacation homeowners rented their homes out in 2015 and plan to do so again in 2016. These low numbers are surprising because renting out a vacation home is often a viable source of income, as TurnKey Vacation Rentals Executive Chairman, John Banczak, explains, “‘it’s not uncommon for vacation rental properties to generate $40,000 a year or more.’” Many vacation homeowners who do rent out their homes use the income to pay off their mortgages, taxes, and other expenses, all while knowing they’re free to use their home whenever they’d like. However, renting a vacation home does take time and effort, and if a homeowner decides to take care of everything on their own, they’ll have to be sure their home is marketed properly and accessible to vacationers on as many vacation rental websites as possible.

Source: Profiting off other people’s sabbaticals – Greater Media Newspapers

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