(To find out more about Big Bear Property, please call me at (909) 587-5605 or visit my website at www.mypropertysolution.com)
Many folks who purchase a cabin in Big Bear as a second home, at one time or another, entertain the notion of using it as a vacation rental to generate some extra income. While this may seem like a great idea on the surface, there are many things to consider before you take that next step.
1. Is your cabin in a location that is favorable to becoming a profitable rental? The farther away from Big Bear Lake and the ski resorts you get ( Snow Summit and Bear Mountain ) the less desirable your cabin becomes to the rental crowd. Convenience is very important to most renters and a cabin that is more than a few miles away from the local attractions is most likely not going to rent very often. If the thought of renting your place ever crosses your mind, make sure you address it with your Realtor from the onset. Your local Big Bear Lake Realtor will be able to point you to the neighborhoods with the best rental potential.
2. Most renters are not going to treat your home with the same respect you do. It’s a sad fact of life, but most people are not all that respectful when it comes to someone elses property. Many renters are not going to view your home as a cabin that somebody else owns and loves. They are going to view it like a hotel room that they paid a fair amount of money to rent and that gives them the right to treat the cabin in whatever manner they choose. Rental cabins, on the whole, experience a lot more wear and tear than a cabin that is only used by friends and family. A good rental company is key in preventing abuse of your home. You want to choose a company in Big Bear Lake that will charge a good safety deposit and actually respond to any complaints regarding your home.
3. Unless your cabin is a lakefront or right next to the slopes, the odds are it is not going to rent enough to actually turn a profit. Most rentals make just enough money to pay the property taxes and a few mortgage payments. Especially if you plan on using your Big Bear Lake Ca home during the busy times like Christmas, New Years, Thanksgiving, and The Fourth Of July. These periods generate the most income for rentals and if your home is not available, you will miss out on the major money making days.
These are just a few things to keep in mind if you are planning on renting out your Big Bear Lake Ca home. I am not saying it is a bad idea or that it is impossible to make money. I am just trying to point out that it is not as easy as it first appears. it takes planning and sacrifice to come out ahead in the rental game. If you are going to do it, make sure you ask your Big Bear Lake Ca Realtor to recommend a reputable rental company with a good track record.
(To find out more about Big Bear Property, please call me at (909) 587-5605 or visit my website at www.mypropertysolution.com)
0 Responses to “Renting Your Big Bear Lake, CA Home”