Since you are very close to Northstar you could most likely be able to rent your property fairly easy. Your best bet would be to do a ski lease for the winter months that way the tenant pay all utilities, snow removal and a great monthly fee to use your property between the months of November - April. This would cover almost all your expenses for the year. The other route is the do weekend rental and Holidays. If you use a property management company they could take about 20% +- or you could do it yourself and use Craigâ€™s List or VRBO. If you have any other questions, don't hesitate to call me anytime (530) 448-9830. Enjoy Tahoe!
My team would be happy to assist you. And, put you in contact with the professionals who handle vacation rentals. They are best qualified to answer your questions regarding rentals.
Please contact my Team member, Kris Ferre. She works exclusively with Buyers.
Interesting questions and one we can help you with, as helping owners set up their Tahoe homes for vacation renting is one of our specialties. The % of what you can cover depends on many things, first of course being how much will you rent your home vs using it yourself? Also how you set the house up, such as features and goodies in the home (flat screen TVs, high end furnishings and decor, hi quality beddings, etc) count a lot. The location of the home is also a big factor, regarding it's proximity to ski areas and other recreation sites in Tahoe.
Helen and I specialize in helping you set up your home to maximize it's rental potential, we can advise you how to do it, what to do, which home will make a better vaca rental, etc. In answer to your question of what % can be covered, no one can really give you a hard answer on that, but we can show you how to do it the best you can. Give us a call: Helen is at 775-846-8711, I'm at 7750-846-8710.
David Sybert, Better Homes and Gardens Real Estate, Tahoe City
Rental income can vary depending on the size of the home, the finish work (granite counters, updated) and amenities available through the rental. If the home is located in an area such as Northstar there are many amenities available (rental income higher), or if the home has a hot tub, nice fireplace and proximity to the ski area it can make up for not being in a high amenity area. Of course, factoring in the cost of amenities and deciding if the additional cost can be covered by the extra rent is important too. On the expense side, figure about 1.25% for property taxes, plus utility costs and whether you are getting a mortgage. Remember, vacation rentals happen during certain parts of the year as high season, good contracts will help you if the weather doesn't cooperate. As I began writing this I realized there are really so many pieces of this puzzle to put together, I'd be happy to go through the variety of options that exist. Please feel free to contact me at firstname.lastname@example.org or via phone 530-412-0449 so we can discuss the different scenarios.
BHG Mason Mc-Duffie