rental

[wb1828]

I'm considering renting out my cottage with a deeded access dock for motorcylce week. It's located next to grouse point in Meredith. If that works, I'm considering renting for summer by the week. What is the going rate and best way to get trustworthy people?

[Jan]

When renting my cottage I always wanted to meet the renters first. I preferred small families and stayed away from college students and other groups of young people. Hopefully you'll get some good renters the first year that will turn into repeats.

Even meeting renters gives you no guarantees. I once met and rented to a nice young family who's father was a police officer. They turned out to be the biggest hell-raisers and my neighbors still have not forgotten them. Lots of drinking, loud music and all-nighters.

That's the risk you take when renting but if you use good judgement and are careful most renters will be great and will come back year after year.

Good luck!

[donnamatrix]

I don't mean to sound skeptical, but keep in mind that people can ask their best friends to be "references" for them, and how would you know? You could request a large desposit fee that would be used to offset any property damage. Does anyone know how the rental companies, like Preferred Properties, deal with this?

[Terry]

Having rented from Preferred a few years ago, I had to give a $400 security deposit. About 1000 for a waterfront house. Sat afternoon to Sat morning. Cleaned it myself, or you can pay them to do it. If they don't like your cleaning, you would get charged. No references required, just a credit card for the deposit. Yes, I got my deposit back in full! No party's or the like. Just a beautiful week on the beach. Rented the same house the next year.

[Eeraff1005]

The fastest way to determine your "rental rate" is to identify what other people are charging for similar properties. Go to a couple of Rental Agent's sites and search through the classifieds on this site. Make sure that you are comparing your house to similar houses---location, size, ammenities, etc. That should give you a good sense of the market.

This site gets a very good response---it'll take a bit of work on your part, but it saves you 20% of the rental.

[Uncle Al]

WB,
We have a neighbor close to you who rents out his place during Motorcycle week. Lots of commotion coming from that house during that time....30 to 40 bikes and more bikers circling around the neighborhood at all times of the day and night.
But they really seem to be nice people. You can hardly notice the "burn out" marks on their living room rug.....and even the oil drips from parking the bikes in the living room have almost blended in pretty well.
I wonder why they don't come down to the beach.

[wb1828]

Jan, I sincerely thank you for your response. Since I purchased my cottage 2 1/2 yrs. ago and never have rented but now have town sewarge I am willing to rent it out. Therefore I will take your words with wisdom.