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How often do you find it necessary to assess a security deposit for damage or loss caused by a rental guest?

10/19/2013 | by @[email protected] |

: The answer is very seldom. That’s because most of our guests are discriminating in how they choose their vacation rental property and attentive in their treatment of it once they’re vacationing there. But you should understand that some wear and tear from rental guests is inevitable. When you do summer rentals, you’re running a small business that can gross up to $50,000 a season or more, depending on the property and its location.

There will be certain costs of doing business that you cannot expect to pass on to the guests. Accidents can happen – a torn screen, a plugged toilet, an empty propane tank, even a stain on your grandmother’s beloved duvet (which should have been locked away for safe keeping during the rental season anyway). The key is your outlook. If you perceive rental guests as a barely tolerable means of generating extra income, then you should avoid renting like you avoid left turns in August.

But if you adopt the role of an upscale innkeeper, welcoming guests into your home, summer rentals are a pleasant part of owning a second home on the Cape. And the extra cash sure comes in handy!

Posted in: Owners