Essential Tips for Renting a Summer Vacation Home
The sad reality of renting a summer vacation home is that quality properties do not last long on the open market. Location is key, but the rented property must meet your family’s immediate needs. The task of negotiating a rental lease with the homeowner or property manager can be a nerve-wracking process. Here are some helpful tips for navigating this process.
Pros and Cons Between Hotels and Summer Vacation Homes
Keep in mind, summer travel is fun for families. It is a bond-building adventure for all. However, the expenses of lodging on the road today is higher than renting a summer home. The reason families are choosing to rent summer vacation homes is that it offers more square footage (2,000 square feet compared to 450-650 square feet) than hotel rooms. According to House Method, 93% of homeowners reported a better quality of life after a home renovation, and a similar change of scenery in a getaway can provide the same beneficial feeling.
A typical hotel room costs, on average, $219 per night during the summer months. And summer vacation rental homes are at least 15 percent lower ($1,500 per week) than connecting hotel rooms on a trip.
The Right Time to Rent a Summer Home
Experienced summer vacation home renters feel the lifespan of the market is dependent upon the number of properties available. Prospective summer home renters should secure a rental agreement 90 days ahead of their arrival date.
Before getting ahead of yourself, make a list of amenities needed to secure a rental agreement. Your list should include the number of bedrooms needed, how many home appliances are available inside the home, and a pool on-site. You must figure out each amenity’s importance to having a great summer. And if one is not available, will that be a deal breaker?
Strategize First Before Negotiating a Rental Agreement
It is important to have a strategy before negotiating a summer home rental agreement. Prioritize all of the property’s accessories before the scheduled meeting date. Be realistic with your demands, but remember, there is a limit on the suggested rental price.
Take the time to research how long the available home appliances have been inside the home. If they look to be older models, the appliances may lack the current technology found in most appliances. How new does the overall space look? Kitchen remodels are the number one most popular remodeling project in the United States, and an outdated vacation home without a history of at least one remodel may not be the top choice.
As stated before, the location matters too. Renting a vacation spot in super populated cities like Los Angeles may seem like a no-brainer. However, aiming for the busiest locations may prove too stressful. Consider other vacation-friendly spots like Riverside, CA, which is home to nearly 21,000 businesses. An exciting trip awaits you in more places than you think.
Negotiate Directly With The Owner
Negotiating directly with the owner of the property eliminates the threat of miscommunication between both parties. Plus, direct contact confirms your interest in renting the summer home. And guarantees no delays in scheduling a meeting to negotiate the particulars of the rental agreement.
It is never wise to be aggressive during the negotiation process. Often, it will lead to you losing the opportunity to rent the home. Sometimes, an owner will lower their rental price because of the cordial relationship initiated by you. Also, it removes the threat of having their home unoccupied and generating no income during the summer vacation season.
Long before coming to a binding agreement on renting a summer home, you must decide what type of property is suitable for your family. It is an important hurdle to jump over before signing the paperwork. Too many first-time renters need assistance in securing a summer vacation home.
You need to set parameters on the price range you are willing to spend. But it is hard to get a quality summer vacation home without breaking the bank. As with most business dealings, planning ahead will be vital in getting a deal done.
Feature Photo by Sebastian Staines on Unsplash
