The best of both worlds
Some people would call it the best of both worlds: own and enjoy your very own weekend and vacation getaway without having to pay the full costs of ownership. Many second home owners in Mount Washington Valley get a little help on their expenses by renting their properties out to short term vacationers when they are not in use. Renting your Conway, Madison, North Conway, Bartlett or Jackson home or condo can be done pretty easily and is a great way to get a little help on the bills. Depending on where you buy and how you market it, you can even earn enough to pay your taxes, condo fees, and sometimes a portion of your mortgage.
Great Rental Condo at Cranmore Brookside
Does that sound appealing? Here’s some general information about rentals in the White Mountains. First off, a summary of rental demand. The summer is when you can get the most consecutive days of rentals, followed by fall weekends and then winter weekends. School vacation weeks are important as well. We’ve been pretty lucky in that the demand for rentals hasn’t been hurt as much by the bad economy. What we have found is that people who have less money than they used to are cutting their Disneyland trip but keeping their ski vacation in NH. Next, it’s important to know what renters are looking for in a rental property. As you might guess, renters prefer properties that are relatively updated (no 1970’s orange shag carpeting) with lots of places to sleep. Other important attributes for rental success are: access to a swimming pool, A/C, cable, wireless internet, and proximity to an attraction (for example Storyland or Attitash).
Nordic Village Condo with Onsite Rental Program
Regarding the actual renting of the property, you can either, 1) use an onsite rental program if one is available 2) use one of the local companies to rent your place out for you 3) rent on your own through sites like vrbo, homeaway, etc., or 4) use a combination of a local company and your own efforts. The onsite rental companies and the local companies each have their own commission structures, so it’s best to talk to them individually about what they think they can get for you when you have found a property you might like to buy. Be sure to ask about cleaning fees, commission and any linen program buy-ins they require. In our experience, the people who have made the most money have used a combination of rental agencies and advertising on their own. Not all rental programs allow you to do that, so it’s something to look into as you get further into the process.
Here at Pinkham Real Estate, we have experience with short term, seasonal and long term rentals, and we are happy to help you find the property that will best meet your goals. We welcome you to stop by, email, or give us a call at 800-322-6921.