Vacation Rentals By Owner (VRBOs)
You may’ve heard of VRBO.com or AirBNB.com - web-based services that facilitate personal property rentals across the world - they’re part of the “person-to-person home rental” trend that has been around for some time and has caught more fire in recent years.
Many residents around Tampa Bay have a second-home or vacation home that they rent out at certain times of the year. Additionally, we’re seeing more investor interest in properties that make sense as vacation rentals. And with summer approaching, some of our “snowbirds” here fly back up North for summer months.
Meantime, beautiful Bay area homes serve a high-demand visitor market, with residents and businesses here all benefitting. If you’re thinking about renting out your place, Metro’s Al Bennati offers perspective and tips:
Overall, I’m a fan - I’ve personally seen several significant success stories with local vacation rentals. After all, weekly rents are typically significantly more than monthly.
Consider the community - if and how a “vacation property” fits with the neighborhood.
Weekly cleaning and maintenance can be costly and requires particular scheduling - it might be better to “renter-proof” the property as possible, with such elements as tile instead of carpet, hearty landscaping, and durable, treated furniture.
Also ask a professional about potential tax liability for this type of rental income.
Just do your homework and make sure it makes sense for you - and like they say, Let a RE/MAX Agent Help Guide You.