Basics of Property Management: Screening Potential Tenants
3 Vacation House Additions To Make The Space Feel Like Home
Jesse Obrien
A second home can be an excellent way to create a passive form of income, making it easier to manage your monthly budget. However, since many families who own vacation property also book out time for themselves to use the space, it is important to add personal touches to make the space feel like home—not just another rental. Here are three vacation home additions that will make your second space feel like an extension of your own home.
1. Family Portraits and Art When you decorate your space, don't be shy about adding decorations that you would have at home, such as family portraits. Hang family pictures throughout the space, or if you would rather not let others see who lives in your home, choose art or photography pieces that depict places that are special to you and your family. Examples could be a painting of the lake you visit every summer or a picture of your favorite national park. The style of the space should reflect your personal taste. Add area rugs, furniture, throw pillows, and linens carefully to ensure that you feel like you are coming home whenever you visit.
2. Activities For The Kids While many parents are tempted to leave all the children's toys at home when they head off on vacation, your kids may not feel at home unless they have something to do inside. Invest in toys that are special for your kids, outdoor recreational equipment like boogie boards and bikes, and video game consoles for your older children. Keep a stash of books on hand so that you can read books at night to your kids. If your vacation home is in an area with a strong internet connection, invest in streaming services so you can watch movies together.
3. Hobby Areas Vacation is about your pleasure too, so turn those extra spaces in the garage or pool house into hobby areas. Consider setting up locking cupboards to put things like artist's supplies, fishing equipment, or a pottery wheel. When you are on vacation, make time to do activities you might not have time for normally. If you love your vacation home enough that you are considering investing in another property, turn to a professional real estate agent to learn more. When you sit down with the professional, talk about your goals, what you hope to accomplish by purchasing another home, and how you can improve your outreach to the open market.
To learn more, contact a company like New Spirit Vacation Homes.
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For the last several years, I've used a property management firm to help with my rental properties. One of the tasks that they handle for me is screening applicants who would like to move into one of my vacant units. Their expertise has helped me lower my tenant turnover and find people who want to stay with me for years. Part of the process is a tenant screening credit check. Before any further contact takes place, my manager orders credit reports from at least two agencies. That is enough to tell us if an applicant is a good financial risk. Assuming the references work out, I meet the candidate and make the final decision. If you own rental properties, let me tell you more about the benefits of having a property manager. I'm betting you'll find this type of arrangement will work for you too.