OK, need some advice (again)

[Big Cliff]

We rent our basement appartment out to students every fall winter and have another lady who rents it from us from May to Sept.. She has just informed us that she is going to be taking it the odd week this year because of work issues.

 

We are thinking that we might rent this out on a weekly or monthly basis this summer but Sue thinks we should be asking at least $750.00 a week and I'm not sure. Here is what it includes:

 

Bright, clean, fully furnished (just renovated) two bedroom apartment, kitchen and large family room with gas fireplace, four piece bath, and docking on the shores of Sturgeon Lake, gas BBQ, High speed WiFi, and HD TV (360 chanels). Supply your own bedding, towels, food and booze. Pets would be welcome as long as they are friendly and you clean up after them!

 

Now to be honest this isn't a beautifully sandy beach, there are lots of nice places to swim close by but there are some weeds here (fishing though is pretty good right off the dock LOL). Muskie, Bass, Walleye, carp and hundreds of pan fish.

 

I am trying to get an idea of what would be a fair price to charge for something like this so please give me some feedback!

 

 

[danc]

Weekly might bright some riff raff in Cliff. A higher price might leave you without tennants some weeks, but at least you'd be able to sleep at night. It's a tough call. I think you might have to feel out a price that gives you both some decent income and peace of mind.

[bigugli]

$700 + or - should be fine if open to the general public. From a restricted, screened, audience from groups like the forum. That is another can of worms.

[tb4me]

That price sounds fair, however you may get stuck with unwanted freaks from time to time. If it were my place id first try to find a full time tenant that pays a monthly rent..If that's not possible then $700 plus a week is right on the money for a roof over your head fully furnished that's on water front. I would imagine you could get more then that for what you just mentioned.. Check out cottage rentals 247.com for going rates in your area..

[ctdd2006]

I'll take it second week of July.

[Old Ironmaker]

If it is a legal rental unit you can always ask for maximum or what the market will bear. What do similar units in your area rent for? Never rent by the week. You are asking for party central and that's what you will get.

 

Credit check, background check, and criminal clearance check for those by the minimum monthly. Include those costs in the rent. You wouldn't believe who's out there, maybe you do. Always best to have it rented by the season for less than deal with even a higher monthly. Just for administrative purposes alone.

 

If it's not registered as a legal rental have this thread deleted.

 

I'm done with property management, it's not for everyone, especially me. Had a triplex in Hamilton and it nearly killed me. We did a lakefront property exchange years ago for 3 weeks and it took me a month to clean the mess. The place we stayed at was great, the people that stayed here was who knows. The kids maybe. My neighbours were not too happy with that I can tell you.