Owning long / short term rentals by the Jersey Shore

[Jason F.]

For those who own long and/or short-term rentals in towns adjacent to shore towns such as Toms River.... what are the biggest challenges with owning rentals in these areas? 

If you own short-term rentals, do you find it hard to make a profit outside of the summer seasons?

Thanks in advance.

[Dale Going]

Hi Jason,

If you are asking about Toms River in particular, the biggest challenge with TR is that short term of less than one month is prohibited by the township on the mainland. Rentals are a no go if you're looking to do weekly summer rentals or even Airbnb for a night or two. On the island (Seaside and neighboring towns), you can rent however you wish (check with each individual town, as they may have ordinances for one week minimum). The winter is dead there, but some folks are able to get winter rentals in place. Not sure how lucrative that is though. I thought of buying a rental in Seaside Park last year and had concerns. . . What if I had my summer booked, but yet my winter renter didn't/refused to vacate. Worried about that scenario, I passed. That's just me though. I'm sure there are plenty of folks that have been successful with winter and summer rentals of their property. I guess it would just all depend on how thorough of a background check/credit check, etc. you do for the winter rental. I personally think if you want to do vacation rentals/short term, you should purchase in an area that is very tourist or close to it and has vacationers all year round.

Long term rentals. . . I have a couple in TR. As with any rental property, do a thorough credit check, work history, references, etc. The type of house (size, updating, rent charged) for the most part, will dictate what type of renter you'll get.

Wishing you success!