Business At A Glance
Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No
If you live in a busy tourist area, there is probably a good chancethat you can flourish by starting and operating a vacation propertyrental agency.
It is not uncommon for people to purchase vacation homesand condominiums with plans to rent them either part or all of the yearto tourists, to help offset the costs of financing, maintenance, taxes,insurance, and utilities. Unfortunately, rental income often fails tomaterialize, since many property owners don’t understand how much timeand work is involved in renting the properties’marketing, booking,cleaning, making repairs, and a lot more. Not to mention that mostowners are sometimes hundreds’if not thousands’of miles away.
As aresult, many vacation properties sit vacant when not being used bytheir owners. This creates a terrific opportunity to rent theseproperties for the owners on a revenue-splitting basis. In addition tomarketing and renting the properties, you will also be responsible forcleaning and light maintenance to ensure that they stay in tiptopcondition and attract top dollar when they are leased. Start small,representing one or two vacation property owners, and run the servicefrom home. As the business grows, so too can your time commitment untilyou are at the point of operating a profitable full-time business. Thesame business concept can also be applied to recreational vehicles andboats, if that piques your interest.
Absent property owners who would like to have their properties rentedout, but do not have the time or the expertise to manage renters.
A computer and For Rent signs with your phone number emblazoned onthem. Also, a scheduling book that will help you keep track of whenrenters are moving in and when their lease is up.