Four Ways To Make Money With Your Beach Property

Real Estate Blog

If you own property on or near the beach, you made a smart move, because it's always valuable. But what if you live elsewhere and can only use your beach house a few weeks of the year? Here are four ways to make money with your property while you're not using it.

Long-term Rental

If you only use your house once or twice a year, consider renting it long-term--at least six months at a time. This is considerably easier than renting it short-term, and there will be less wear and tear on the home with a limited number of tenants. With a beach area property in good condition, you can demand top dollar and screen competitively for reliable renters.

The only issue with long-term rentals is what to do when you want to use your home. You can either visit in between tenants or have an arrangement in place with your renter to vacate when you come to town and set up the dates in advance.

This works best with someone who doesn't need to keep a lot of their own belongings in the house and can go elsewhere for a week or two. It may be worth it to you to be able to cover your mortgage payment or even make a profit, so don't let the home sit empty without giving renting careful consideration.

Short-term Rental for Vacationers

Short-term rentals make it easier for you to pop in multiple times per year. The downside, however, is more wear on the home and much more work to rent it out. Many homeowners in this instance opt to use a vacation property management company to help with this.

Property management companies can do a host of things associated with renting your property:

• helping set a price for the rental
• marketing the property, including taking photos
• booking renters
• accounting
• checking in guests
• maintaining the property
• cleaning between stays
• setting up amenities, such as wifi and cable television
• handling emergencies

Property managers usually take a percentage of the rental fee, so shop around to see who gives what in return for the commission you'll be paying. Real estate agents who deal in beach listings can usually recommend reliable property management companies, such as those found through http://eastvalleypropertymanagement.com/.

House Swap

Using your beach house as one end of a home swap doesn't bring you cash, per se, but it can defray the expense of staying elsewhere if you like to travel. A beachside home in the US is very attractive to vacationers from Europe, Australia, Latin America and Asia. With the wealth of vacation swap websites now, you can easily list your home and find a place across the globe for your next vacation.

Specialty Rentals

If your beach house is a luxury home, in a stunning location or very unusual, you may be able to rent it out within certain specialty markets. Directors are always looking for new locations to shoot feature films, TV shows and commercials. You can approach location scouts online and invite them to view your property to see if it's viable for that kind of use.

Other kinds of unique renters include photographers and event planners who want beautiful backdrops for photo shoots, weddings and parties. This avenue still allows you to use the house most of the time but make a little money on the side with it.

Of course, the ultimate way to make money with your beach property is to flip it. With the real estate market turning around and the ever-present demand for beach homes, you could make a tidy profit. If you find yourself not using your property as much as you thought you would, this might be the way to go. Meanwhile take a look at the suggestions above and see if you can make your beach house work for you, even when you're hundreds or thousands of miles away.

29 October 2014