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Tips For Making Money on Your Vacation PropertiesDid you buy a home or condo in Lake Havasu? You know how much fun it is to vacation. The lake is beautiful, there is so much to do, and the community is a lot of fun for all ages. It makes sense to buy property so that you can escape and decompress with your loved ones.
But as much fun as it is to spend time in Lake Havasu, there are more times that you simply can't get away to enjoy your vacation paradise. Why let your vacation properties sit empty? You could earn enough income to cover the cost of your mortgage on your property, simply by renting it out when you aren't planning to use the home.
Renting out your Lake Havasu vacation properties could be a time consuming and stressful process - at least, if you handle all the arrangements yourself. There are rental companies that make the process incredibly easy and maintain the property. Before you decide to rent your home, consider some of the following tips:
Research the Lake Havasu rental market. Spend some time looking at sites that offer vacation rentals. Check out pictures of the vacation properties. How do they compare to your home? How much are the owners asking for rent? How full are their bookings? Look at the location of the home in comparison to the lake, the amenities that are offered with the property, the furnishings, etc. You'll have a better idea of how much your ideal rent should be when compared to other homes.
Prepare your Lake Havasu vacation properties. While you want to enjoy your home when you take your vacation, you also want to protect yourself and your home while others are renting it. You should store all of your personal items in a locked owner's storage space or closet. Don't leave out any precious items or family heirlooms.
Plan your bedroom setup. Your first priority is to have comfortable furnishings for you and your family, but what's the best configuration of spaces for rental. Think about whether it makes sense to have a couple of twin beds in one bedroom, a futon or fold-out couch in the living room, or other configurations to maximize the amount of people that can sleep in your home.
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