What about managing the rental yourself?
Well, congratulations. You own it! You finally made the big decision to follow your dream and buy that vacation home. So . . . now what? You want the property to start generating cash right away, but you want to be careful to do everything right. Let’s start with the basics. You have three choices. 1. You can hire a management company to handle everything. 2. You can use a management partnership program. 3. You can self-manage . . . as in “rent by owner.” Option number three, rent by owner, is the only way to maximize your income on your vacation property. In other words, it’s your best bet. Of course, this depends on how much work you are willing to do. But I’m not talking about backbreaking work, or even a huge commitment of time. Remember the old adage, its not how hard you work, it’s how smart you work. That is certainly solid advice when it comes to renting your property on your own. So don’t be scared into thinking it’s a Herculean task. It’s not.  Cut out the middleman and you win. Yes, there will be a little more work involved, but in the long run it will be well worth it. And as one season melts into the next, you will become more and more proficient at managing your own property. You may even want to give yourself the commission you save, and go take a vacation. For more tips on managing your own vacation home rental, check out the book How to Rent Vacation Properties by Owner: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment is available at Christine's Website.