I was thinking about buying a house about 75 miles away from where I live on a lake. I want to use it sometimes. When I am not using it, I was thinking of finding a management co. that would take care of it while I was away and renting it out by the night to help pay for it. Would my idea work? If so, how much for someone to care for it?
2007-12-01 14:11:36 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Oh and to Bibs.....this is Lake Fork. It's the bass capital of the US. There are no partiers.......as jet skies and skiers would die in seconds. It's a bunch of people fishing and tournaments.
2007-12-01 14:47:33 · update #1
Oh, and the place I normally stay at when I fish there is rented out 300 days a year. I don't think I could keep mine rented that much....but who knows?
2007-12-01 14:48:54 · update #2
I would not do this unless I could get a $1,000 security deposit from each tenant. What you propose, is an invitation to young tenants who are looking for a party house. It will get trashed. The longer the lease the better
2007-12-01 14:37:48 · answer #1 · answered by Bibs 7 · 0⤊ 1⤋
Why don't you go talk to a real estate company near the lake? Do they have other houses that they rent out? Unless its a very special place, I doubt that you can keep the house rented more than 20 percent of the time. Many people only want lake houses on the weekends. Wouldn't weekly rentals be better, if you can get them?
2007-12-01 22:38:08 · answer #2 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
There is probably a local property management co there that would offer that service. I would call a local real estate company and ask, they may also have someone that offers that or would know who does. That is very common in those types of areas, Condotels comes to mind in many beach areas. The fee will be much higher than standard PM fees because of the time nvolved do to the turnover, cleaning, logistics etc.
2007-12-01 22:56:29 · answer #3 · answered by Ty 1 · 0⤊ 0⤋