questions for people who rent their property

DREAMS · 09-15-2007, 10:42 AM

Location and secondly price will be a major dictator to the results of renting your property and your potential income. Island rentals are very attractive for many people who have a boat and have comfort with the tranquility and peacefulness of island living. As an owner, you are undertaking much more challenges in maintenace and transportation of everything from mainland - however well worth every challenge! Generally, you purchase island property for less than mainland and the rentals are less on islands verses mainland property. I have had personal experience and success with handling my own rentals and servicing the rental guests. A great experience however living locally makes that economically feasable compared to living out of state. I regards to your concerns of theft and keys, the quality of rental you provide dictates the quality of your guests. However, I certainly beleive any folks willing and able to pay your rental fee will have no desire or plans to steal from you. If they like your rental and location, they will do as much as possible to please you and have the opportunity to return another season.

If you find a place or have any more quesitons, private message me and I would be glad to offer any help as a local! Lake Winnipesaukee is the only true life to live!

SAMIAM · 09-16-2007, 12:35 PM

If it were me....I'd go by the numbers.Ok,..let's see....Take 500k for 30 years at 7.5%.That would be around $3,500 monthly or 42K annually.Now add 8 or 10 k in taxes and your up to 50K or so.Insurance for a rental is fairly steep and there would be some maintenance.Let's say,around $54,000 per year in expenses.
Now,let's see what's coming in on the other end.If it's an attractive place with lake access,you should get $1,000 weekly. Lakefront will bring in much more,but double the mortgage.
Anyway,my guess would be that you'd be lucky to take in $15,000 and out of that you'd have to pay a fee to the agency.
Bottom line is that little love nest will cost you nearly $40,000 a year.Certainly not good as investments go, but certainly one that would hold it's value.
I'm not a realtor,I just took those figures out of my head......just guesswork.

09-15-2007, 10:42 AM	#1
DREAMS Senior Member Join Date: Sep 2004 Posts: 51 Thanks: 0 Thanked 0 Times in 0 Posts	Lots Of Variables Which Dictate Results Location and secondly price will be a major dictator to the results of renting your property and your potential income. Island rentals are very attractive for many people who have a boat and have comfort with the tranquility and peacefulness of island living. As an owner, you are undertaking much more challenges in maintenace and transportation of everything from mainland - however well worth every challenge! Generally, you purchase island property for less than mainland and the rentals are less on islands verses mainland property. I have had personal experience and success with handling my own rentals and servicing the rental guests. A great experience however living locally makes that economically feasable compared to living out of state. I regards to your concerns of theft and keys, the quality of rental you provide dictates the quality of your guests. However, I certainly beleive any folks willing and able to pay your rental fee will have no desire or plans to steal from you. If they like your rental and location, they will do as much as possible to please you and have the opportunity to return another season. If you find a place or have any more quesitons, private message me and I would be glad to offer any help as a local! Lake Winnipesaukee is the only true life to live!

09-16-2007, 12:35 PM	#2
SAMIAM Senior Member Join Date: Apr 2004 Location: Moultonborough Posts: 2,912 Thanks: 338 Thanked 1,690 Times in 594 Posts	If it were me....I'd go by the numbers.Ok,..let's see....Take 500k for 30 years at 7.5%.That would be around $3,500 monthly or 42K annually.Now add 8 or 10 k in taxes and your up to 50K or so.Insurance for a rental is fairly steep and there would be some maintenance.Let's say,around $54,000 per year in expenses. Now,let's see what's coming in on the other end.If it's an attractive place with lake access,you should get $1,000 weekly. Lakefront will bring in much more,but double the mortgage. Anyway,my guess would be that you'd be lucky to take in $15,000 and out of that you'd have to pay a fee to the agency. Bottom line is that little love nest will cost you nearly $40,000 a year.Certainly not good as investments go, but certainly one that would hold it's value. I'm not a realtor,I just took those figures out of my head......just guesswork.