How to turn your property into a vacation rental
Want to make a few extra bucks renting out your cottage when you’re not using it? Here’s what you need to know to turn your property into a money-making vacation destination.
If you own a cottage and are looking to make a little extra cash, renting out the property when you're not using it may be an option to consider. This article from Moneysense provides some helpful hints for anyone considering turning their family vacation spot into a source of extra income.
For maximum visibility, market your place online with the same care you would take if you were selling the property. Use eye-catching photos and write a detailed description so your potential guests will be drawn in. You can pre-screen applicants by asking for references, and checking rental sites to see if anyone has lodged a formal complaint about them. Asking for a deposit up front can protect you against any possible damages.
It is also a must to contact your insurance company to disclose that you will be renting out the property, to ensure you're covered if any damage does occur on behalf of a renter. The standard home insurance policy you presently have in place may not apply.
For more helpful hints, click here for the full article from Moneysense.