Renting property by the week. Any experiences? - GoFuckYourself.com

Dildozer · 08-02-2004, 11:07 AM

I'm looking at purchasing a waterfront property on an island on the St-Lawrence river. I know there's a very good market for weekly rentals averaging $1000 to $2000 per week to tourists.

Any of you in this type of business? Are you using a property manager or not? Is it worth the hassles?

I mean half the time rent it and the rest of the time enjoy it? Or it could be a good business to run as well.

Sly_RJ · 08-02-2004, 11:08 AM

That would be incredible. I wonder how difficult management would be though.

Dildozer · 08-02-2004, 04:29 PM

Quote:

Originally posted by Sly_RJ
That would be incredible. I wonder how difficult management would be though.

I'm wondering the same, there are alot of property management companies and since i don't live in the same city as my investment i'll have to figure out a way.

goBigtime · 08-02-2004, 04:34 PM

It's definitely a good business in consistently touristy places considering the property value increases.

Another bonus is after you start to rack up a few nice places of your own, people start coming to you to manage their places during the periods they are not using their vacation home.

Keep Tahoe Blue

Doctor Dre · 08-02-2004, 07:00 PM

Well there WILL be a lot of problems and work . But if you can get 2-3 in the same aera you can probably make a lot of money without too much work

freeadultcontent · 08-02-2004, 07:01 PM

I would expect a crap load of damages and repairs. Better get one hell of a security deposit.

Dildozer · 08-02-2004, 07:11 PM

Made an offer, we'll see how it turns out

EviLGuY · 08-02-2004, 07:12 PM

I'd definitely find someone to do the managing for you..

korzon · 08-02-2004, 07:12 PM

fr8 · 08-02-2004, 07:15 PM

I have family that use to have ocean front property. The hardest thing about it is the upkeep of the house. They lived 4 hours from it. So if a problem occured they would have to drive out to it. But at 1200-1800 a week it was worth it to them.

ace0r · 08-02-2004, 07:18 PM

i have a 3 homes on the beach @ emerald isle in north carlonia which i rent out to tourists, what i did was link up with a local travel agent to keep the places booked for a certain percentage, and worked out a deal with a local cleaning service to tidy up after each set of people leave. A property management company looks after the homes for a fee of 6% of the monthly mortgages. A lot of property managers want a cut of the gross in areas where weekly/biweekly rentals are popular, and that's just asking for an assraping.

Dildozer · 08-02-2004, 07:31 PM

6% ain't much, if you look at Tremblant for example, which are crooks, are selling condos and you are OBLIGATED to get them managed by them for 50% of rental price.

So basically they sell you a condo where you lose money each year because costs are greater.

I used to work for whistleraccomodation.com where they charged 20% or rental price and gave a hell of a good service. Still it's weekly not daily so i don't think i'm willing to shell out that much.

Doctor Dre · 08-02-2004, 07:33 PM

We actually got something like that in New Brunswick ... cost us 750 $ a week for a small place near the see. It was really nice but a lil bit dirty

Dildozer · 08-03-2004, 07:53 AM

Quote:

Originally posted by Doctor Dre
We actually got something like that in New Brunswick ... cost us 750 $ a week for a small place near the see. It was really nice but a lil bit dirty

For that price what did you expect?

Anyone know if Quiet does the same with his Whistler condo?

08-02-2004, 11:07 AM	#1
Dildozer Confirmed User Join Date: Jul 2002 Location: Montreal Posts: 7,519	Renting property by the week. Any experiences? I'm looking at purchasing a waterfront property on an island on the St-Lawrence river. I know there's a very good market for weekly rentals averaging $1000 to $2000 per week to tourists. Any of you in this type of business? Are you using a property manager or not? Is it worth the hassles? I mean half the time rent it and the rest of the time enjoy it? Or it could be a good business to run as well. __________________ Spam link here

08-02-2004, 11:08 AM	#2
Sly_RJ Live Hard - Die Hard Join Date: Feb 2002 Location: Ready to leave... Posts: 17,042	That would be incredible. I wonder how difficult management would be though. __________________ PHAT SERVERS - Quality dedicated hosting at a quality price! sly AT phatservers DOT com - 147479144

08-02-2004, 07:01 PM	#6
freeadultcontent Confirmed User Join Date: Oct 2002 Location: "evitcepsrep ruoy egnahc" Posts: 9,976	I would expect a crap load of damages and repairs. Better get one hell of a security deposit. __________________ Exclusive Ethnic & Microniche Sites

08-02-2004, 07:11 PM	#7
Dildozer Confirmed User Join Date: Jul 2002 Location: Montreal Posts: 7,519	Made an offer, we'll see how it turns out __________________ Spam link here

08-02-2004, 07:15 PM	#10
fr8 Confirmed User Industry Role: Join Date: Mar 2003 Posts: 5,074	I have family that use to have ocean front property. The hardest thing about it is the upkeep of the house. They lived 4 hours from it. So if a problem occured they would have to drive out to it. But at 1200-1800 a week it was worth it to them. __________________ █ joesmut (a) gmail Dot com █ Full Stack Developer

08-02-2004, 04:34 PM	#4
goBigtime Confirmed User Join Date: Nov 2002 Posts: 7,761	It's definitely a good business in consistently touristy places considering the property value increases. Another bonus is after you start to rack up a few nice places of your own, people start coming to you to manage their places during the periods they are not using their vacation home. Keep Tahoe Blue

08-02-2004, 07:12 PM	#8
EviLGuY So Fucking Banned Join Date: Apr 2003 Location: malta Posts: 12,745	I'd definitely find someone to do the managing for you..

08-02-2004, 07:12 PM	#9
korzon Confirmed User Join Date: Jan 2004 Posts: 1,524

08-02-2004, 07:18 PM	#11
ace0r Confirmed User Industry Role: Join Date: Feb 2001 Location: Calabasa, CA & Chicago, IL Posts: 1,410	i have a 3 homes on the beach @ emerald isle in north carlonia which i rent out to tourists, what i did was link up with a local travel agent to keep the places booked for a certain percentage, and worked out a deal with a local cleaning service to tidy up after each set of people leave. A property management company looks after the homes for a fee of 6% of the monthly mortgages. A lot of property managers want a cut of the gross in areas where weekly/biweekly rentals are popular, and that's just asking for an assraping. Last edited by ace0r; 08-02-2004 at 07:20 PM..

08-02-2004, 07:31 PM	#12
Dildozer Confirmed User Join Date: Jul 2002 Location: Montreal Posts: 7,519	6% ain't much, if you look at Tremblant for example, which are crooks, are selling condos and you are OBLIGATED to get them managed by them for 50% of rental price. So basically they sell you a condo where you lose money each year because costs are greater. I used to work for whistleraccomodation.com where they charged 20% or rental price and gave a hell of a good service. Still it's weekly not daily so i don't think i'm willing to shell out that much. __________________ Spam link here