Hilton Head Island Vacation Rental Management
If you’re interested in buying a vacation home on Hilton Head Island, you may be interested in renting your home or condo for much of the year. This can be a great way to finance your dream vacation home. For some, they can have their dream vacation home on Hilton Head Island and let the rentals help pay expenses at the same time. At the very least, renting your home on Hilton Head to other vacationers will make your purchase more affordable.
You’ll need a vacation rental management company to help you with the process. You’ll probably want to select a company that will take care of everything. They’ll book renters, collect the rent, clean and maintain the property, and write you checks. All for a fee, of course.
Many condominium properties on Hilton Head have associated rental companies. For example, Palmetto Dunes Oceanfront Resort has it’s own rental property that supports Palmetto Dunes, Leamington, and Shelter Cove.
If you’re planning on purchasing a property that you’ll rent, you’ll want to make this a part of your buying process. Here are a few tips:
- Shop for a rental management company just like you’d do for a lender or Realtor. They will be partners in the process. Dunes Real Estate would be happy to make some recommendations for you to consider. Give us a call.
- Pick rental management company that currently manages properties near your new home.
- Ask the rental management company to share the facts and figure for similar properties near yours. You’ll be able to use the costs and income figures to help determine if your new property with generate income and how much.
- Review the rental management company’s policy and records on repairing damage. All rental properties incur damage from time to time, as well as ordinary wear and tear. Find out how they deal with this and what, if any, of the responsibilities and costs will be yours.
Many of the properties that you may consider are already rental properties. You’ll be able to review the property’s rental history, maybe even review comments from renters.
Vacation Rental Tip: If you want to buy a rental property, why not rent it for a week or so and try it out?
Our Realtors at Dunes Real Estate are well experienced with both short and long-term rental properties and we’d be happy to help you buy one for yourself. Give us a call!