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How To Rent Vacation Properties
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In this all-new, updated edition, author and speaker Christine Hrib-Karpinski takes readers through all the steps necessary to purchase and rent out a vacation home. This book contains practical, hands-on advice that shows the reader how to do it without property management companies, and keep 100 percent of the profits. It offers realistic strategies to create a situation in which renters pay the mortgage, while still allowing the owner several weeks a year in that little slice of paradise.
- Sales Rank: #228238 in Books
- Published on: 2013-11-01
- Binding: Paperback
- 384 pages
Review
If you are thinking about buying a second or vacation home,this book shows you how to make such a property a profitable investment and how to wisely rent it during the times you are personally using it. --Inman News
An Owner's manual for vacation homeowners who want to earn rental income when they are not in residence. It's hard to argue with the scope, addressing nearly all the pros and cons of vacation homeownership. --Robb Report Vacation Homes
For Aspiring Donald Trumps --Chicago Tribune
An Owner's manual for vacation homeowners who want to earn rental income when they are not in residence. It's hard to argue with the scope, addressing nearly all the pros and cons of vacation homeownership. --Robb Report Vacation Homes
For Aspiring Donald Trumps --Chicago Tribune
An Owner's manual for vacation homeowners who want to earn rental income when they are not in residence. It's hard to argue with the scope, addressing nearly all the pros and cons of vacation homeownership. --Robb Report Vacation Homes
For Aspiring Donald Trumps --Chicago Tribune
From the Publisher
Now included is a wonderful FOREWORD by Broderick Perkins !!!
From the Author
Hello!
I am excited to bring to you the second edition of my book, How To Rent Vacation Properties by Owner.
This book is filled not only with my own research, observations and experiences, but also with information I've compiled from conversations with thousands of owners I have spoken with over the years.
Be sure to visit regularly for the latest information, including my "How to Rent Vacation Properties by Owner Podcast," my Blog about running my vacation rentals, updated news, new tips & advice, industry trends and developments. Also, I'll be out in the field conducting workshops, promoting vacation rentals to travelers, and meeting with industry leaders.
Whatever your situation, fear not--you're not alone.
I hope you enjoy the my book and the Owner Community website.
Happy Renting by Owner!
Christine Karpinski
Most helpful customer reviews
114 of 140 people found the following review helpful.
WARNING! This book is a 300 page advertisment for the author's employer
By Mark Twain
After reading the reviews I thought this would be a useful book. It certainly has lots of information in it, that you can find for free on the internet. I certainly did not learn anything I already did not know.
Although that was annoying it was not as infuriating as finding out that the author works for a company called HomeAway Inc. She fully disclosed the fact that she worked for them, which is fine, but she must have forgotten that almost all of the portal sites she mentioned are owned by HomeAway Inc, a small little fact that must have slipped her mind when her company was lining her pocketbook. In one passage on page 142 she recommends that you sign up for all 4 of the portal sites she `recommends' and only puts and asterisk by HomeAway, failing to state that HomeAway owns the other 3 that she 'recommends' you sign up for. Nice Christine, thanks for the full disclosure. After she recommends you don't go with a rental management company (in Chapter 9 she has a personal crusade against property management companies) because they take too much money, she turns around and `recommends' sending $1500 to her parent company. Wow, the hypocrisy!!! She certainly has chutzpah.
She peppers the books with 'recommendations' of websites that are either owned or affiliated with the company that employs her. I would recommend buying a book on how to rent vacation homes from someone who is not in the pocket of a company whose job it is to take a percentage of your vacation rental income. Maybe someone with at least some degree of ethics and objectivity.
For full disclosure's sake, I am not affiliated with any rental management company or any company that directly or indirectly competes with Home Away Inc. In fact, I am not even in the real estate industry in any capacity. It is just very aggravating to find out that I spent $20 to get a 300 page advertisement for HomeAway Inc.
It turns out that Mrs. Karpinski is just an arm of the HomeAway Inc marketing machine. I do not think that the author is the `expert' that she claims to be, just a huckster trying to sell the wares of HomeAway Inc. I hope in her next edition she does the ethical thing and decides to fully disclose her relationship with what she is trying to sell you on.
If you think I am just some crazy loon who likes to rant, just do a little internet research and you will quickly find out that HomeAway Inc owns most, if not all of the `recommendations' by the author.
20 of 23 people found the following review helpful.
For some, an invaluable source of information and counsel
By Robert Morris
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.
34 of 41 people found the following review helpful.
Some good info buried in a too folksy style
By I. Kessler
The topic of the book is dead-on for what I am looking for... how to rent by owner a beach condo I just bought. Unfortunately, it reads like a How to Make a Peanut Butter and Jelly Sandwich book from an introductory writing class. I would think that anyone who can afford to buy a beach property doesn't need to be explained about what a fixed rate vs adjustable rate loan is.
The folksy nature and the rhetorical questions being asked and self-answered is not complementary to the topic and the intent of the book. I'm sure the author is excited about the topic, but I've never seen so many explanation points in a business/real estate book....
The author is very against management companies and goes to extremes to tell why one shouldn't be hired. She says a management company will keep 50 - 60% of gross profit. The mgmt companies I spoke to in my beach town charge 15 - 20% and by reputation are very different the the typical management company described here.
So, overall some good, useful information but you have to weed through alot of... Why??? Yes!!! The author could have benefited from an editor.
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