New Hampshire Vacation Rental Analysiss

[Jimmy Murray]

Hi All!

I am working on analyzing a deal in Thornton, New Hampshire for a potential Vacation Rental. Does anyone have any advice related to renting through AirBnB or Homeaway? 

I am thinking this would be an owner financed deal for 12-24 months then rolling the property into a more conventional type of paper. Does any one have experience financing a vacation property?

Thanks in advance!

-Jim

[John Moon]

Jim,

There are a lot of changes occurring with Homeaway. Homeaway/VRBO just added a 9% service charge to guests. Tripadvisor/AirBnB also charge 10-15% to the guest and the owner about 3%. There is a good forum in Yahoo groups called Vacation Rentals for owners with information about the vacation rental web sites and any other questions that you may have.

I have two condos in Lincoln so I am familiar with the area.  You are fairly close to Waterville Valley, Loon and Cannon. There are a lot of vacation rentals in Lincoln, North Woodstock, Woodstock and Waterville Valley and I believe most rather stay close to the mountain during ski season. It is a very competitive market since there are many owners that rent their units along with rental managers such as Loon Rentals and others.Many of the developments run shuttles to Loon during ski season since there is not  a lot of parking. Depending on when you plan on using your property,it may be wise to have a seasonal renter for ski season. There is also a lot of construction on going in Lincoln with the new Riverwalk scheduled to open in May. The second and third phases of Riverwalk will eventually be built. The plan is for Loon to clear more of the mountain in the future to expand.

You should be able to finance the property without a problem. Call one of the local mortgage brokers.

John