- Joined
- Dec 21, 2014
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- Location
- California
- Resorts Owned
- HGVC, MVC Vistana
I saw two episodes of Vacation Rules. I found it fascinating, however the two episodes had the same formulaic rules. Perhaps others would be different.
As an owner of a vacation rental in a top resort area. Their calculations on rental income were way off. They showed renting in northern Michigan (or perhaps Canada?) for 6 months as $60,000 a year in income for a home smaller than ours. Not even close. Need to factor in seasonality - you won't get top dollar during low season and it won't be rented every week either. They must have taken rates from an event week and multiplied by 52.
The other factor is whether you would get the increase in rental income for all of those fancy renovations. We need to update the floors and kitchen soon, but wondering if renters even care vs. charging more per night to cover the additional reno on a home that is nice but not grand.
As an owner of a vacation rental in a top resort area. Their calculations on rental income were way off. They showed renting in northern Michigan (or perhaps Canada?) for 6 months as $60,000 a year in income for a home smaller than ours. Not even close. Need to factor in seasonality - you won't get top dollar during low season and it won't be rented every week either. They must have taken rates from an event week and multiplied by 52.
The other factor is whether you would get the increase in rental income for all of those fancy renovations. We need to update the floors and kitchen soon, but wondering if renters even care vs. charging more per night to cover the additional reno on a home that is nice but not grand.
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