4 Steps to Successfully Renting Your Cottage

Many people who live in the city love the notion of leaving to the country to get away from the rat race.  However even if you find a great deal on one it will often mean being on the hook for paying another mortgage.  This is on top of property taxes, heat and hydro and the usual maintenance costs that can all add to your money worries.  This is often enough to dissuade people from buying a cottage but by renting it out you can recoup some of these costs and maybe even turn a small profit.

Sounds good right?  However before you determine that renting your cottage is the way to go here are 4 things you absolutely have to take into account.

You Can Only Rent It Provided The Price Is Right

It's hard not to get emotionally Involved with your property but you have to be objective in coming up with the rental rate for your cottage.  It will take a little homework on your end and you might need to enlist the advice of a real estate agent.  You will have to see what similar cottages in your area are renting for.  If you have a waterfront cottages Wasaga Beach would get higher rents since it is a tourist area. In the winter season you can make excellent money renting your Blue Mountain condo if it is a short walk to the ski hill. If your location is not the best then make sure that it is in the best possible condition and be ready to negotiate.  When your cottage sits vacant for a week you can't get that money back.

A Picture Is Worth A Thousand Words So Take as Many As You Can

Ensure you are getting the best from your marketing dollar and that does not mean you have to spend a lot.  First you should take a lot of pictures.  Digital pictures cost nothing to make and even the camera in most cell phones are good enough.  The more you are able show potential renters the better.  This will back-up the rent you are requesting and save you time in only answering serious inquiries.

You Must Be Searchable On The Internet

Those that are receptive to renting a cottage are not going to be local and can possibly be from major cities or also around the world.  There are sites that focus on cottage rental listings or for greater control you can create your own site.  Other kinds of advertising cannot compare to the exposure you will get from being on-line for a very small cost.  There are a astonishing number of rental cottages that do not correctly execute this part which can you give large an advantage.

4.  Answer Enquiries Fast

You are probably not the only person getting phone calls and e-mails about your cottage.  The faster you reply the greater your chances are going to be that you rent your place for the rate that you want.  Your target may simply be to make a little extra cash but you should still treat it as a business.

If you put some time and effort into researching the demand in your region and advertise your cottage effectively you will be giving yourself the best chance possible of making sure your cottage is rented throughout the season.