Vacation Rentals in WNC
Many homes in Western North Carolina are owned by absentee owners, and that includes second homes for personal use, investment-only rental properties and rental properties that owners also enjoy. These owners know that WNC property is a good investment. Prices are affordable relative to other resort areas, appreciation is steady, and there are many investment opportunities here. Renting can make the cost of a second home more affordable. Renting your vacation home diminishes the costs of ownership and offers tax advantages in some cases. And if you want a second home that rents well, Asheville and the surrounding area is a good location choice. The demand for short-term rentals is high, and the rental season is long, extending well into the fall and spring.
This is where property management companies come in. Most owners of rental properties live outside of the area and hire a company to handle renting and maintenance. Some are a division of a real estate firm; others deal exclusively with vacation rentals. Most property management companies charge the homeowner a percentage of the gross rent, and homeowners are paid monthly. Property management companies do many things for the homeowners they represent. Number one, they market your home to potential renters via advertisements, catalogs and the internet. They handle the bookings. They draw up leases, mail them out to customers and collect their rents, deposits and taxes. They keep up with the laws in the Vacation Rental Act and offer Trip Insurance to renters. They field complaints and criticisms about your property. They handle the cleaning, inspections and light maintenance after each renter vacates the property. They do the necessary maintenance to keep your home functioning properly, including regular pool and spa maintenance. They can offer tips and suggestions on setting rates and how to get your house to rent more often. Each company’s services vary, and each company has a niche that they fill in the rental market. Unless you are willing to handle all these things yourself, it is not recommended that you try to rent or maintain the property on your own. For most people it’s easiest to do a little work to find a company they like and then pay whatever it takes to turn the work over to them.
If you have an interest in placing your property in a vacation rental program, or would like to benefit from a great investment and revenue making property, contact us at Yonder Luxury Mountain Vacation Rentals. We are experts in this field and can answer your questions and help guide you through the process of getting started.