If you are looking to invest in a rental property, you can choose to buy one that you will rent out all year round or you can pick a vacation rental. There is no real way to say which of the two is better. It would all depend on the investor in question since he or she would know the best fit for his or her budget, preferences, and management skills.
This article though is not about comparing these two options. In this piece, we will look at the challenges of being an owner of a vacation rental. For instance, you cannot expect to have people renting the place all year round. In the winter, you cannot exactly expect people to drop in rent your cottage by the lake.
Since there is a gap that we call offseason, the property would be left unattended for an extended period of time. This would mean an increase in the risk of the property sustaining some form of damage. The winter season is one tough time for a vacation rental to be left unattended as there are a lot of things that could go wrong. For instance, water pipes could freeze and burst.
To avoid running into potential costly problems, you have to be aware how to prepare for these problems. For instance, you have to make sure that rainwater is drained away from the property as fast as possible. Frozen water in the roof and gutter could cause plenty of stress to parts of the house or cottage so make sure that you clean the gutters before the first snowflakes of the season fall.
You also have to take into consideration the potential hazards posed by gas lines like propane or natural gas. Be sure to turn these off and if you are not knowledgeable how to handle such tasks, you can always call in the professionals to take care of the issue for you.
Tree limbs could be whipped clean off the main trunk and straight to your property causing considerable damage. To avoid this, trim any tree limbs that are dangerously close to the property. Be careful when doing this too especially if you are dealing with a tall tree.
If you have installed a satellite dish on the roof of the property or anywhere exposed to the elements, be sure to take it down as strong winds could blow it away. Also, the sheer weight of frozen water and snow could damage it beyond repair.