Buying and Renting a Beach Property

If you are buying a beach home as an investment property and plan to rent, there are many things to consider, including the type of property, tax advantages, cost of ownership vs. rental income, insurance, etc. There are also intangibles to consider – will the home be the great investment you expected, and what happens if you stumble across the “renter from hell” who damages your property?

A few key items to note are:

  • Who will handle the rental management? You can do it yourself or turn it over to a rental company.
  • If you use a rental company, you will be charged anywhere from 20%-30% off the top on each booking.
  • Your home must be stocked appropriately – you can obtain that information from local rental management companies.
  • Depending on the location of your home, you may need to consider providing other amenities for your guests, including bicycles, beach chairs, or even a golf cart if your community does not have direct beach access.

Here are a few links to other information that might be useful to you as you consider purchasing a rental property:

 

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