Sanity…While Renting Out Your 2nd Home!

Some people buy a vacation home after repeated visits to an area that they love.  They start working the equation of ownership vs. the money they are spending to enjoy time in their ’special area’.

Eventually when all things are considered, the prospect of ownership usually wins out and a second home purchase is made…using a qualified professional Realtor to facilitate the search, negotiation and ultimate transaction.  After all, there is an opportunity for tax benefits and future appreciation to enhance the fact that they now own a little piece of that area they love visiting.

So, the decorating begins and items are tastefully selected to create that magic vacation sanctuary.  And great things are purchased (in some instances, better than are in the primary residence) never thinking for a moment that anyone else would ever share this haven.

But owning a second home can be daunting at times.  There is the mortgage payment, property taxes, up-keep and in some instances HOA fees.  And in uncertain economies, sometimes people consider renting their 2nd home.  But how could they do that and whom could they trust?  Well, the Realtor who helped you purchase that home could be a great source of information.  Many Realtors could or would be willing to lease that 2nd home to a qualified prospect for a short or long term.  After all, who knows the area better?  Realtors know the shopping, area entertainment, hospital and doctors, schools, golf courses, tennis clubs, marinas, harbors and other area components which are integral in attracting a quality tenant.  Fees for this service are usually very reasonable and the extra income from a short term or long term renter can help with property taxes and HOA fees (if any).

Those people looking for that 2nd home in Orange County California…may contact Michael@MichaelCarusoRealEstate.com  or visit www.MichaelCarusoRealEstate.com

Best regards, Michael Caruso

~ by Michael A. Caruso on February 20, 2008.