Follow This Checklist Before Renting Out Your Jersey Shore Home

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    The height of the rental season is just around the corner. If you are considering renting out your Jersey Shore vacation home here is a great starting checklist.

    Upkeep

    • Secure a dependable company to clean the home between guests.

    • Review with the hired cleaning company the items that should be cleaned before every check-in.

    • Create a list of things in the home that need recurrent maintenance and make a plan as to who will do them and when.

    • Complete any outstanding upkeep items that need to be done prior to rental season.

    Payments

    • Determine what rates you will charge for nightly, weekly, or even monthly stays.

    • Set up a method in which you will track both payments and expenses.

    • Determine how you will accept payment for the rental.

    Taxes

    • Seek out information related to any tax deductions you may be eligible for, capital gains taxes, or what would be needed to form an LLC to protect your assets.

    • Contact your local county for occupancy tax rates for rentals both short and long term.

    Legality

    • Know the law when it comes to short-term rentals for your city, county, state, and HOA if applicable.

    • Review your HOA covenants to determine if renting out your home is allowed.

    • Acquire any business licenses that are needed.

    • Purchase insurance that is specific for covering vacation rentals.

    • Establish a rental agreement.

    Marketing

    • Review places that you can actively market your vacation rental such as rental listing websites, and use at least 3 or more different sites.

    • Write a catchy headline and an inviting property description for your vacation home rental.

    • Find a way to set up a calendar and determine a method you will use to maintain it.

    • Hire a photographer to take pictures of the home or do it yourself and add captions to them.

    • Start advertising!

    Renting out your vacation home along the Jersey Shore can be a great source of income. However, don’t go into it unprepared.  If you are in the market to purchase a vacation home along the Jersey Shore we would be honored to help you with the search and answer any questions you may have.

    The Ferzoco Group is experienced in working with buyers and sellers from Ocean City to Cape May. If you are looking to sell or buy a home let us know how we can help.  Our job is to make your tomorrow better than today. Contact us today via email or give us a call at 609-264-6762.

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