Vacation Home Rentals – Finding Your Home Away From Home

Want to live in your dream home and make money?

Wanting to get into the real estate business requires finances, what if I told you that you could live in your dream home and make money from home with real estate?

You may want to consider opening a Bed and Breakfast rental business. A vacation property rental business is a good opportunity for you to break into the real estate market, live in your dream home and make some money while getting a feel for the industry.

The aspiring innkeeper is faced with a daunting task. Most people have a myriad of questions and concerns. How big should my vacation rental be? What can we afford? Should you be investing in an established rental that has been in business for a number of years, or should you start from scratch?

For more complex tasks such as assessing the property you are considering buying or crafting a business plan for that will help you secure a loan.

A vacation rental is a business that provides short-term accommodations in a private home or other comparable location, and traditionally accommodations can vary from one establishment to the next, as each building has its own unique characteristics. Locations that might provide vacation rental accommodations can range from historic buildings and cottages, condos, houseboats and private homes.

The amenities offered by different rentals can also vary. In some cases, you may have private rooms with private bathrooms, or several private rooms with shared bathrooms. Vacation rentals generally emphasize a high level of personalized

customer service and will often be connected to local tourist attractions.

There are various categories of vacation rentals such as a Bed and Breakfast, cottage rental, condos, houseboats. Each of these categories require a different way of carrying on the business.

The key to running a successful rental business is to find one that suits your lifestyle. What I mean by that, is if you have a lot of time, like to cook and clean and want to get to know your customer one on one, then running a Bed and Breakfast could be your rental choice.

If you have less time and don’t want to cook or spend a lot of time with your guests then a cottage, condo, houseboat, or vacation rental is the way to go.

Owning a vacation rental is a great alternative to investing in single family homes if you’re looking to getting into real estate investing. You can live in your dream home while making money from your overnight or long term guests.