Does It Pay To Have A Rental Property?
A study released today by HomeAway found:
>> 51 percent of owners who have a mortgage on their vacation rental home are able to cover at least three quarters of their mortgage payment.
>> 86 percent of owners say their summer business was about the same or better than last summer
>> Vacation rental occupancy rates (77 percent) outpaced hotels (70 percent) for summer season
>> Owners report an average weekly rental rate of $1,778 or $254 per night this summer, a 19 percent increase over last summer.
Here are the destinations with the largest percentage increase in vacation homes being listed for rent in in the second quarter this year compared to the same time a year ago.
>> Keystone, Colo.
>> Sebago Lake, Maine
>> Outer Banks, N.C.
>> Sunriver, Ore.
>> Port Aransas, Texas
>> Captiva Island & Sanibel Island, Fla.
>> Florida Panhandle
>> Austin, Texas
>> Savannah, Ga.
>> Orlando, Fla.