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Title: How To Rent Vacation Properties By Owner: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment by Christine Karpinski ISBN: 0-9748249-0-9 Publisher: Kinney Pollack Press Pub. Date: 30 May, 2004 Format: Paperback Volumes: 1 List Price(USD): $26.00 |
Average Customer Rating: 4.75 (4 reviews)
Rating: 5
Summary: Best Vacation Rental Book I've ever read!!!!!!!!!!!!!
Comment: If you currently own or are thinking of investing in a Vacation rental this book is a must have. My husband & I are in the middle of building our dream home. Christine's book answered all the questions I had & then some about renting our vacation home. This book is very easy reading. In fact I found it very difficult to put down. It is a book I think I'll refer to over & over again. Get clicking & buy this book! You won't be sorry!!!!
Rating: 5
Summary: For some, an invaluable source of information and counsel
Comment: Obviously, the value of this book will be determined entirely by its relevance to a specific reader who is now thinking about buying (or who now owns) a vacation rental property and needs expert advice on HOW to manage, furnish, maintain, and promote that investment. I have never owned such a property but have rented several over the years. Some were rented directly from their owner; others were rented through an agency engaged by their owner. The comments which follow are based on the premise that I have decided to purchase a second home. Let's say it is located where there are two peak seasons, summer (swimming, boating, golf, tennis, etc.) and winter (skiing, skating, snow boarding, etc.) My objective is to maximize rental income from it during both seasons. These are some of the questions I need to answer:
1. Where and how to begin?
2. How should I finance it?
3. Which numbers need to be crunched?
4. How to determine which property is the right place for me?.
5. Should I have a management company handle everything, use a management partnership program, or self-manage the property? Why?
6. Which are the most effective strategies, tactics, and resources for marketing my rental property?
7. What about financial terms and conditions (e.g. pricing)?
8. Which criteria to use when selecting renters?
9. What is the best system for processing reservations?
10. Which are the most common problems? How to solve each?
Karpinski addresses these and other critically important questions throughout 18 carefully-organized and well-written chapters, followed by seven appendices in which she provides forms (e.g. rental rules and regulations), identifies most helpful Web sites, explains special discounts, identifies vacation exchange Web sites, lists state sales tax offices, refers her reader to learning centers throughout the U.S. (e.g. to improve computer skills), and concludes with an annotated list of individuals and companies she highly recommends.
If you are thinking about purchasing a vacation rental property or if you now own one and are dissatisfied with its ROI, this book will be invaluable. However, with all due respect to Karpinski, I think it would be foolish to rely on only one source of information and counsel. Once again I am reminded of Derek Bok's response when outraged parents of Harvard students complained about a tuition increase: "If you think education is expensive, try ignorance." Deciding whether or not to purchase a vacation property obviously requires rigorous and extensive due diligence. In my opinion, a careful reading and then (yes) re-reading of Karpinski's book is essential to that process. That said, check out other sources on the same subject, including books offered by Amazon which have received the highest ratings by readers. This book will also be helpful to current owners who have hired a management company or participate in a management partnership program. In Chapter 5, Karpinski explains why self-management "is the only way to maximize your income on your vacation property." For many current owners, that may well be true but only IF they are willing to invest the time and energy self-management requires.
Rating: 5
Summary: Excellent information source for vacation property owners
Comment: As a vacation rental owner myself, I found this book to be full of solid information. I had purchased other books in the past, but they didn't address all the issues of ownership. In fact, this was the first book I had read that emphasized not using a property manager. This book outlines chapter-by-chapter how to take reservations, get deposits and payments, how to handle keys, choose good renters, deal with problems, how to find cleaning and maintenance people, etc. How to Rent Vacation Properties By Owner is easy to read and understand--I finished it in a day. There are lots of helpful tips and owner stories, but the references and resources in the back of the book are what sets this book apart. There are web sites for all 50 states tax departments, dozens of vacation rental sites to advertise on, special offers and more. The author has clearly done her homework so you don't have to. Worth every penny.
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