Do you own a vacation home and find yourself struggling to decide whether to rent on your own or to use a property management company? If you answered yes, the following tips will help you make the best decision for you.

1.Don’t assume you need a vacation rental property manager to get your home rented.

Not too long ago anyone planning to rent their vacation home did so by using the services of a property management company. Over the last few years this trend has shifted and more vacation homes are being rented by the owners themselves. The extra income coming in can be used to pay for homeowner’s insurance and other bills, which still need to be paid even if you leave the vacation home unoccupied for a few months per year. An often overlooked benefit of renting your vacation home yourself is the ability to choose your renter. This is not in your hands if you contract the services of a property management company.

2.You can greatly increase your income by renting your vacation home yourself.

Most property management companies take an average of 30 percent of rental income for their services, although the going rate can range anywhere from 10 percent to 60 percent. When you rent for yourself that is income coming to you.

3.You can handle renting your own vacation property in about three hours a week.

This varies greatly and is dependent on a number of factors, such as location of the property, renters being catered to and type of returns you are seeking. For the average vacation home owner, they may need to spend an average of three hours per week answering telephone or email queries. If you are renting your vacation home as a business you will need to invest much more time than someone just looking to earn ‘residual income’ when they don’t need the place themselves.

4.The internet is the easiest way to get renters for your vacation property.

Advertising is important and in today’s Internet age, this avenue of advertising cannot be ignored. As a matter of fact, one of the most successful ways to promote your vacation home is via the Internet. You can also list your property on any number of websites that offer this service. A quick search of the Internet will turn up hundreds of websites that list vacation homes. You can also ask to leave brochures at places such as travel agencies.

5.Weigh the advantages and disadvantages of using a property management company.

It is true that a property management company saves you some hassle and time when renting your vacation home. However, if you compare that with the control you gain by renting yourself and the returns from cutting out the middleman, the management company, in many instances you come out ahead.

6.Be wise about whether you wish to leave your personal belongings in your vacation home when renting?

Although the average vacationer will respect and take care of any vacation property they rent, you should never take any chances. If you have personal mementos that have value, whether sentimental or financial, consider taking them out before renting. Leave just enough to give a homely and welcoming feel to the vacation home.

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