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Updated almost 6 years ago, 02/04/2019
Purchasing a Vaca Rental BUSINESS, what do I need to know/ask?
Good Morning Everyone, I'm currently evaluating a potential purchase of a portfolio of vacation rental units all of which reside on the same property (single owner). What are some of the things I'll need to consider when structuring the deal as I'm not just buying the real estate but, in essence, the business itself and all the comes with it. Here are some the things of which I'm aware that I'll need to consider: 1) business property (non-real) such as lawn care equipment, furniture, appliances (large and small), dishes, linens, tools used in the care of the property; 2) transition of internet presence and accounts (website hosting, domain name, social media, 3rd party booking sites - anything else); 3) deposits already received for future bookings; 4) a listing of contractors they use who are already familiar with the property; 5) a listing of any contracts that would carry over to the new owner; 6) details and copies of any existing property management software. What else? Any general advice?