Quote:
Originally Posted by Chimi
Hi, we have considered it, but are reluctant to go this route. The big reason is the difficulty to get service people to go to the island. It's one thing if we as the owner have to put up with a hassle for a few days of not having something work properly, but if it's a tenant in there, then they won't be too happy with the hassles (I know I wouldn't).
Again, thanks to all that have responded on the forum and by PM.
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I understand that type of reluctance. Two thoughts. 1. Real estate management firms usually have staff or access to the trades that you might not have as owner of just one property. The tenant calls the management company and it is their job to keep customers happy if they want repeat business. You don't have to do anything except cash the checks and pay the bills.
Second, rent long term e.g. full season or annual. Over six months gets you past the Room & Meals tax hassle. A long term tenant won't be bothered by a day or so of problems the way a week by week tenant would be.
Be creative. Our next door neighbor sold with an agreement that she would stay for five years and the new owners could use the place for two weeks every summer until they fully retired at the end of the five years. She took a little less $$ but had five years with no expenses, as a rent free tenant.