subject: Advice For Cottage Rental Owners [print this page] If you are considering the rental of your cottage on an ongoing basis, there are certain things you need to have in place. Before you do the actual listing of your property, take time to think about why you would want to rent it out, the type of people you want to rent it to, how much you will rent it for and when you want to make your cottage rental available.
Most people will rent their cottages for various reasons. Some may rent it due to financial reasons, whether it is planned or not. Some will buy a cottage as an investment and then rent it out to cover the cost until they are ready to retire. In any event, owning a cottage is a great investment for the long term.
Your target audience
You never want to rent your cottage to individuals who will become problem renters. This is your long term investment and so you need to interview your renters very carefully. You can use family members or friends to find good renters. Always ask first before listing your rental.
Word of mouth referral is best and cheaper than listing your rental. Your neighbors are a good source to rely on as well. Even though, renting your cottage to a perfect stranger may be risky, you can do weekly rentals instead. Of course, you will have to be aware that there may be wear and tear on your property. So you should charge enough to cover those operating costs.
Renting your property to a couple may be the most ideal situation. They are generally looking to stay at a quiet place where they can be away from everyone. Instead of staying at a hotel, they opt for a cottage rental because of its privacy.
Renting to a small family can also work out if you set down rules for children and pets. With some luck, you will get a family that will rent on a yearly basis. In your listing, you should include this information.
Renting to a group is another option. This is also risky, but sometimes you have to take the risk, rather than leaving your cottage empty for long periods of time.
The cost
Be sure to charge enough to see a profit. Include these costs:
Cleaning
Advertising
Repair and Maintenance
Utilities
Insurance
Agent Fees, if necessary
Conclusion
Create an information guide that will describe your cottage rentals so that potential renters can know what they are getting.
