Vacation rental questions

[Brian Kelch]

Hey BP,

I found a beach property that I was thinking would be a great vacation rental property (Not AirBNB). Anyone on here do those with success? What kinds of problems do you run into that aren't "normal"? I'm aware of things like the summer months will have to carry me through the winter months. Just looking for some insight. Any idea what a rental company costs? is it like a property management company that takes a percent of the income? Thanks!

[Lori Taylor]

We have vacation rentals in Leavenworth, WA and Phoenix, AZ. I can tell you that the rental management company charges 50% (high but standard for the area...includes paying for most supplies, paying house cleaners etc) for our WA property and the one in AZ charges 15%. I think that’s more standard. Both have been very successful for us though.

I don’t think that we worry about anything much different, except what you already said...making sure you have the funds to carry you through the slow months...