Thinking About Turning Your Second Home Into a Vacation Rental?

With statistics like “54% of [HomeAway] owners cover at least three quarters of their mortgage by renting their home to travelers,” it can be tempting to turn your second home into a vacation rental.

Before making this decision, consider the time investment managing a vacation rental requires and how much of your profits are going to a property management company. HomeAway reports that “owners spend an average of 9 hours per week on marketing and managing their vacation rental properties.”

Another point to consider is how much you will use your home instead of renting it. Will you be able to handle the additional tax burden, insurance coverage, and elevated wear and tear? Make sure you are making the right decision for your family.

Source: VacationNest  Using your second home as a vacation rental

Print Friendly, PDF & Email

RELATED CONTENT

California Vacation Rental Restrictions and COVID-19 Updates

7 Min Read June 18, 2020

Florida Vacation Rental Ban and Travel Updates

6 Min Read June 12, 2020

TurnKey Vacation Rentals’ 2018 Ski Report

4 Min Read November 26, 2018
TurnKey Blog