Here's a first hand account from one of my clients who bought a modest house in South Dennis a couple of years ago. The first year they had a year round tenant which proved to be a disaster. Then they started doing weekly vacation rentals. Here's their report today when I asked for the details of how their rentals were going:
Doing it on my own. Rental company we had last year wasn't very
helpful. They said they had one of our weeks rented and it ended up the
person had rented another place. They hadn't kept on top of it. It
really killed me because I had already received calls from 2 or 3
renters who asked for that particular week. I called the agency at one
point and asked if they were sure about that week being rented because
one man who called seemed to be desperate. They were so sure! and they
were wrong. They finally found someone for about 3 days of that week; of
course less rent. It was the way they blew it off that ticked us off.
So now I'm making my own mistakes. I can get ticked off at myself if I
screw up. And I have done that.
I'm trying to low-ball the price - at $850/week last year, $300 security
deposit and am now at $1000/week, $300 security. I give a discount to
returning renters. It's hard to keep rent too low with the expenses of
running the place. What with cleaning, DirecTV, A/C, etc. Since we're
not near water we can't ask the higher rents, and it's not a luxury
place. But it is a nice location for families - the kids can run around
the neighborhood on boogie boards and bikes; and the beach is just up
the street (Rte 134). The location seems to work out pretty well. Some
people are attracted by the sun room. Of course one lady called the sun
room the "mud room" !!! Whatever - still a nice place to have coffee in
the morning.
Some people just pay, no questions/no complaints. Some ask for a
discount - the family who stayed two weeks did ask and got a discount. I
like having returnees because I know they've been there before, didn't
mess the place up last year and probably won't mess it up this year. We
had two families with problems this summer - one ran out of juice in the
propane tank, and the other couldn't work the washing machine and a
light bulb was out. Somehow they got resolved. We'll see if they come
back next year.
I've had several requests for weeks that were already rented and people
have asked if I knew of another house near ours for their friends to
stay in. I really don't know of any other places yet. If you know of
anyone with a place, let me know, I can refer them.
It's kinda fun doing this for now - we'll see how long it lasts.
Wednesday, September 5, 2007
What it’s like to be in the vacation rental business: PART II
Here's a first hand account from one of my clients who bought a modest house in South Dennis a couple of years ago. The first year they had a year round tenant which proved to be a disaster. Then they started doing weekly vacation rentals. Here's their report today when I asked for the details of how the summer has been:
We've been doing pretty well with our vacation rentals this year - the house was booked solid all summer starting June 23rd week and ending Sept. 4th (two families rented for Labor Day weekend). We'd like to rent it out for some weeks in Sept or Oct but it seems Cape vacationers aren't interested in those months -- and they're missing out on a great time to be at the Cape.
We really like the We Need A Vacation site - we've received most of our renters through them. We're also on the VRBO site, but think ended up with only one rental from VRBO.
I hate to say this for fear of jinxing things, but I'm so impressed with how nice people are who've rented the house - such a contrast to the people who rented for a year. Most of the summer renters are families, which is what you said we'd get - mom, dad, kids; some are grandparents renting for a family vacation with daughter, son-in-law, grandkids. We had a group of 3 ladies (older-ish) who come to the Cape every year for girls week out and shopping. We've had returns from last year and one returning couple with two kids stayed two weeks.
We were at the house for a few days this past June making sure everything was in place. It was unbelievably cold (for June anyway). We brought up a gas grill that Tom put together because one of our vacationers asked whether we had a gas grill -- when they found out we didn't they said it was okay because they had a portable gas grill they usually brought with them. We decided we'd better have a gas grill there rather than take a chance on some small portable gas grill that might blow up !
We've had only a few mishaps with the place -- one was during the second week of rentals when the new last year glass-topped patio table skittered along with the wind and broke. I called Mill Stores in Harwich on somebody's recommendation. Their staff were very nice, efficient, got the table on the patio Saturday in time for the next people who were coming in. They were great.
Rental company we had last year wasn't very helpful. They said they had one of our weeks rented and it ended up the person had rented another place. They hadn't kept on top of it. It really killed me because I had already received calls from 2 or 3 renters who asked for that particular week. I called the agency at one point and asked if they were sure about that week being rented because one man who called seemed to be desperate. They were so sure! and they were wrong. They finally found someone for about 3 days of that week; of course less rent. It was the way they blew it off that ticked us off.
So now I'm making my own mistakes. I can get ticked off at myself if I screw up. And I have done that.
I've had several requests for weeks that were already rented and people have asked if I knew of another house near ours for their friends to stay in. I really don't know of any other places yet. If you know of anyone with a place, let me know, I can refer them. I think you have a smaller place other than "The Manse" you rent out, right?
It's kinda fun doing this for now - we'll see how long it lasts.
8/31/07
We've been doing pretty well with our vacation rentals this year - the house was booked solid all summer starting June 23rd week and ending Sept. 4th (two families rented for Labor Day weekend). We'd like to rent it out for some weeks in Sept or Oct but it seems Cape vacationers aren't interested in those months -- and they're missing out on a great time to be at the Cape.
We really like the We Need A Vacation site - we've received most of our renters through them. We're also on the VRBO site, but think ended up with only one rental from VRBO.
I hate to say this for fear of jinxing things, but I'm so impressed with how nice people are who've rented the house - such a contrast to the people who rented for a year. Most of the summer renters are families, which is what you said we'd get - mom, dad, kids; some are grandparents renting for a family vacation with daughter, son-in-law, grandkids. We had a group of 3 ladies (older-ish) who come to the Cape every year for girls week out and shopping. We've had returns from last year and one returning couple with two kids stayed two weeks.
We were at the house for a few days this past June making sure everything was in place. It was unbelievably cold (for June anyway). We brought up a gas grill that Tom put together because one of our vacationers asked whether we had a gas grill -- when they found out we didn't they said it was okay because they had a portable gas grill they usually brought with them. We decided we'd better have a gas grill there rather than take a chance on some small portable gas grill that might blow up !
We've had only a few mishaps with the place -- one was during the second week of rentals when the new last year glass-topped patio table skittered along with the wind and broke. I called Mill Stores in Harwich on somebody's recommendation. Their staff were very nice, efficient, got the table on the patio Saturday in time for the next people who were coming in. They were great.
Rental company we had last year wasn't very helpful. They said they had one of our weeks rented and it ended up the person had rented another place. They hadn't kept on top of it. It really killed me because I had already received calls from 2 or 3 renters who asked for that particular week. I called the agency at one point and asked if they were sure about that week being rented because one man who called seemed to be desperate. They were so sure! and they were wrong. They finally found someone for about 3 days of that week; of course less rent. It was the way they blew it off that ticked us off.
So now I'm making my own mistakes. I can get ticked off at myself if I screw up. And I have done that.
I've had several requests for weeks that were already rented and people have asked if I knew of another house near ours for their friends to stay in. I really don't know of any other places yet. If you know of anyone with a place, let me know, I can refer them. I think you have a smaller place other than "The Manse" you rent out, right?
It's kinda fun doing this for now - we'll see how long it lasts.
8/31/07
Monday, February 5, 2007
To the man cave
By Kate M. Jackson, Globe Correspondent | February 4, 2007
After graduating from Bentley College in 1996, Larry Cannalonga moved to "Man Town." Reluctant to give up the college lifestyle, he and 11 buddies rented out a 12-bedroom house in Waltham -- a former nursing home -- and moved in together. For more than two years, they lived out the habits of the indigenous New England male: hanging out, watching the Red Sox and Patriots, drinking beer, and eating take-out every night.
"We all pitched in for a pool table, a big-screen TV and a jukebox," Cannalonga recalled of life in the "508," as they called it , after the house's street address. "It was a great time in our lives."
Like his buddies, Cannalonga moved on, and out. Now 32, he is married with two children and lives in North Reading. But he recently found himself missing the spirit of his old crash pad; it was time, he knew, for a man cave.
Dingy basements, chilly garages, a beat-up den, or even an oversized mud room, the "man cave" is a designated area in a home for all things mannish -- or, boyish, depending on your view. Mythologized in beer commercials broadcast during weekend football games, the man cave is a place where guys are free to smoke cigars, fart, yell at the TV, or indulge in other guy-like activities .
from the Boston Globe
http://www.boston.com/realestate/articles/2007/02/04/to_the_man_cave/?p1=emai
After graduating from Bentley College in 1996, Larry Cannalonga moved to "Man Town." Reluctant to give up the college lifestyle, he and 11 buddies rented out a 12-bedroom house in Waltham -- a former nursing home -- and moved in together. For more than two years, they lived out the habits of the indigenous New England male: hanging out, watching the Red Sox and Patriots, drinking beer, and eating take-out every night.
"We all pitched in for a pool table, a big-screen TV and a jukebox," Cannalonga recalled of life in the "508," as they called it , after the house's street address. "It was a great time in our lives."
Like his buddies, Cannalonga moved on, and out. Now 32, he is married with two children and lives in North Reading. But he recently found himself missing the spirit of his old crash pad; it was time, he knew, for a man cave.
Dingy basements, chilly garages, a beat-up den, or even an oversized mud room, the "man cave" is a designated area in a home for all things mannish -- or, boyish, depending on your view. Mythologized in beer commercials broadcast during weekend football games, the man cave is a place where guys are free to smoke cigars, fart, yell at the TV, or indulge in other guy-like activities .
from the Boston Globe
http://www.boston.com/realestate/articles/2007/02/04/to_the_man_cave/?p1=emai
Tuesday, January 30, 2007
Marietta's Seventy-one Reasons To Live on Cape Cod
I have lived in Harwich all my life except for college and a few years in New York and Washington. Here are 71 reasons I love living on Cape Cod . . .
1. Close to nature in every direction. 2. Beautiful Cape Cod house architecture 3. Historic references to many important things in our present-day culture 4. Interesting people live here. 5. Cape Cod Restaurants=sport 6. Many of the things that make Cape Cod so physically beautiful are also environmentally appropriate 7. Town meeting form of government 8. Many volunteer opportunities 9. Each Cape Cod town has a distinct character and look. 10. 365 ponds 11. Lifelong learning classes through several institutions 12. Golf year round on Cape Cod 14. Glass 15. 15 Cape Cod towns=15 solutions to governmental matters 16. Back roads 17. Cape Cod's summer League baseball (where many baseball stars have started out) 18. W.H.A.T. 19. Slower pace of life 20. Lighthouses 21. Rail Trail 22. Rosa Rugosa 23. Shellfishing 24. Sandy Neck 25. Stargazing: less light pollution 26. Watching the full moon rise over the outer beach at Chatham Light 27. Mild Cape Cod winters 28. Indian Summer 29. Worldwide recognition of the Cape Cod name and shape 30. Cranberries 31. Atlantic Flyway for birders 32. Thacher Shore Road, Yarmouthport 33. Jag 34. Heritage Plantation in Sandwich 35. Ferries to Nantucket 36. Cape Cod Air's colorful planes 37. Whale watching 38. Cape Cod National Seashore 39. Lobster bisque at the Brewster Fish House 40. Cape Symphony Orchestra 41. Window boxes 42. Chatham's walking Main Street 43. Barnstable Harbor 44. Cape Cod Photo Workshops 45. Ross' Grille in P'town 46. Art's Dune Buggy Rides 47. Cape Cod summer camps for kids 48. Cat boats 49. Fog 50. Cape Cod Lavender Farm 51. Art galleries 52. Antique auctions 53. Harwich Junior Theater 54. First night in Chatham 55. Brewster in Bloom parade 56. Seashell driveways 57. Birdwatchers' General Store in Orleans 58. Breakfast at Jack's Outback in Yarmouth 59. Cape Cod striper Fishing 60. Cape Cod Cinema season tickets 61. Cape Cod Bay and Nantucket Sound water = ideal temps for swimmers 62. 90 minutes to Providence or Boston 63. Bus service direct to Logan Airport 64. No big box stores 65. Lectures at Fine Arts Work Center, Provincetown 66. Wellfleet Flea Market 67. Camping 68. Kayaking on Pleasant Bay 69. Televised selectmen meetings 70. WOMR in Provincetown 71. Jay Allison's soundbites on WCAI
Link
1. Close to nature in every direction. 2. Beautiful Cape Cod house architecture 3. Historic references to many important things in our present-day culture 4. Interesting people live here. 5. Cape Cod Restaurants=sport 6. Many of the things that make Cape Cod so physically beautiful are also environmentally appropriate 7. Town meeting form of government 8. Many volunteer opportunities 9. Each Cape Cod town has a distinct character and look. 10. 365 ponds 11. Lifelong learning classes through several institutions 12. Golf year round on Cape Cod 14. Glass 15. 15 Cape Cod towns=15 solutions to governmental matters 16. Back roads 17. Cape Cod's summer League baseball (where many baseball stars have started out) 18. W.H.A.T. 19. Slower pace of life 20. Lighthouses 21. Rail Trail 22. Rosa Rugosa 23. Shellfishing 24. Sandy Neck 25. Stargazing: less light pollution 26. Watching the full moon rise over the outer beach at Chatham Light 27. Mild Cape Cod winters 28. Indian Summer 29. Worldwide recognition of the Cape Cod name and shape 30. Cranberries 31. Atlantic Flyway for birders 32. Thacher Shore Road, Yarmouthport 33. Jag 34. Heritage Plantation in Sandwich 35. Ferries to Nantucket 36. Cape Cod Air's colorful planes 37. Whale watching 38. Cape Cod National Seashore 39. Lobster bisque at the Brewster Fish House 40. Cape Symphony Orchestra 41. Window boxes 42. Chatham's walking Main Street 43. Barnstable Harbor 44. Cape Cod Photo Workshops 45. Ross' Grille in P'town 46. Art's Dune Buggy Rides 47. Cape Cod summer camps for kids 48. Cat boats 49. Fog 50. Cape Cod Lavender Farm 51. Art galleries 52. Antique auctions 53. Harwich Junior Theater 54. First night in Chatham 55. Brewster in Bloom parade 56. Seashell driveways 57. Birdwatchers' General Store in Orleans 58. Breakfast at Jack's Outback in Yarmouth 59. Cape Cod striper Fishing 60. Cape Cod Cinema season tickets 61. Cape Cod Bay and Nantucket Sound water = ideal temps for swimmers 62. 90 minutes to Providence or Boston 63. Bus service direct to Logan Airport 64. No big box stores 65. Lectures at Fine Arts Work Center, Provincetown 66. Wellfleet Flea Market 67. Camping 68. Kayaking on Pleasant Bay 69. Televised selectmen meetings 70. WOMR in Provincetown 71. Jay Allison's soundbites on WCAI
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