To rent out your house for the summer, find out the area’s popularity with tourists, research the going rate for a holiday home, and find out if state laws allow short-term rentals. Including a strong rental agreement, security deposit and insurance helps to protect the home.Continue Reading
Homes in popular tourist areas are more likely to fetch good rental rates. These include homes near beaches and popular attractions. Assess the area's popularity to judge if it is a worthy venture.
Some factors that affect how much a house costs to rent include its size and amenities. Search similar homes in the vicinity and sites such as HomeAway to gain a better understanding of how much to charge. Other factors to consider when pricing include expenses such as hiring a housekeeper to clean after guests, hiring a house manager, taxes, repairs and maintenance.
Lastly, find out if local and state laws allow for short-term rentals. Some states have specific requirements such as tax collection and registration for short-term rentals. Condo or homeowners associations should be consulted before renting out property to ensure compliance. Homeowners should consult a lawyer when coming up with rental agreements to avoid liability in the event of damage or injury.Learn more about Real Estate