Summer may have come to an end, but there are still plenty of vacationers planning to visit the Jersey Shore this autumn. Fall on the shore is a wonderful time to enjoy the still warm waters with fewer crowds. If you own a vacation home on the Jersey Shore and are considering renting it out, here is what you need to know.
Ordinances- When it comes to renting out your vacation home you must first learn the laws and ordinances of your area. Do not be surprised if vacation rentals are expected to follow the same rules as hotels when it comes to occupancy tax. Some towns along the Jersey Shore require annual rental license. Check with your local municipality for laws and regulations BEFORE renting out your home.
Insurance- Renting out your second home means you must have the right homeowners insurance coverage. Don’t just assume that your current homeowners policy will cover any incidentals incurred as a result of an unruly guest. Your homeowners policy may not have the liability coverage needed if a guest is injured while staying at your property. Do not rely on your rental contract to cover you when it comes to damages and accidents that may happen at your Jersey Shore vacation home. Contact your insurance provider to make sure you are properly covered. If you are not renting out the property to the same person for an extended period of time, many insurance companies have you purchase a hotel-type insurance policy.
Property Upkeep- A property that is well maintained and clean is what potential guests are looking for. Have a plan set in place for thorough cleanings between guests. If you are unable to do this on your own consider hiring a local maid service or a local property management company to assist you.
If you are looking to buy or sell a vacation home on the Jersey Shore let us help. The Ferzoco Group are experts in real estate from Ocean City to Cape May.
If you are looking to buy a new home or sell your existing home, we’d love to hear how we can help you reach your real estate goals. Our job is to make your tomorrow better than today. Contact us today via email or give us a call at 609-264-6762.