Hello,
My name is Patricia Jones and I live in Amesbury Ma.
I am interested in learning more about rental income. I am a single mother of two teenage boys and I bought a vacation condo in Conway NH for us to be able to enjoy. I wasn't originally going to rent it out but when it sits unused I am passing up potential income.
I am a Cell Culture Supervisor at a Biotech company. I work Sunday to Wednesday and would like to use my days off to work on investments.
I am trying to build my knowledge and rent the condo. In future I would also like to acquire more properties to generate income.
I have experience with renting out a home I owned in Alabama so I am familiar with a long term lease but I am confused about how to handle a vacation rental. How do you handle the keys (drop off return) do you need to renters to sign some type of contract?? Do I notify my insurance company that the property will be used as a rental? I am sure I will come up with more questions...
I am so excited to be a part of this forum and thank you in advance for any advice you can give me.
