Three tips for packaging and selling your vacation rental as business rather than just a vacation home.
Whether you're selling a vacation rental home to buy a bigger property, a property in a different location, to do a 1031 exchange, or simply to unload your second home altogether, consider selling your home as a vacation rental business rather than just any old vacation home.
1. First, prove that it's a profitable business. Selling your vacation home as vacation rental business could be very attractive to prospective buyers. Ask your real estate agent to quote your last year or two's rental revenue history. Many buyers seek vacation homes that they can rent out for part of the year to defray expenses. Buyers may even pay more for a property with proven rental income.
2. For the serious buyers, you can easily show the buyer your entire past rental records proving your rental history.
3. Include all of your advertising channels. This means transferring any personal website domains and portal website subscriptions to the new owner.
Think of the advantage of saying, "Property with a great rental history and complete website is included." Now you're selling an established business rather than just another property.
This excerpt was taken from HomeAway.com.
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Hugh “Scooter” Willey