Renting out cottage advice

[captpierre]

Looking for recommendations re renting out our cottage.

Want to rent it out for a week in June and September.

There are tons of on- line options.

Nervous renting to strangers

Does anyone have some experience doing this?

Is there any vetting of guests?

Insurance?

Fees?

[Old Ironmaker]

Yes I do and there isn't enough data storage on OFC to hold it all. If it's to make a few bucks i.e. 2 weeks don't bother, For 2 to 4 months yes. Why only 2 weeks? You know you need to have paperwork up the ying yang to rent anything you own legally and to keep your liability insurance valid. Just call you Insurance provider, not broker, and ask if you can rent your property out. You might change your mind real quick. Mine told me my property and liability insurance would triple because of the water access alone, 1 week or 1 year no difference. That was enough for me to not ask anymore questions. But that was 20 years ago. Call them first before you start thinking what to do with all that money. Of course I could have just rented it out and with my luck back then the freeking place would have slid into the lake. The question you have to ask yourself is would you let someone you don't know from Adam stay in what is probably the second highest monetary investment you have for a few bucks. Credit ratings today aren't worth much these days, easily faked, and just because someone does have a good credit rating doesn't mean they aren't pigs and live like slobs. I had more than a few properties I rented in the 90's and still have bad dreams 25 years latter.

Edited May 15, 2017 by Old Ironmaker

[John Bacon]

I used to rent part of my house out. The policy did not cover vandalism my tennents. This was renting a portion of a house that I was living in. I think there are more insurance issues when you will not be present. Make sure you know what your insurance covers.

[crappieperchhunter]

Looking for recommendations re renting out our cottage.

Want to rent it out for a week in June and September.

There are tons of on- line options.

Nervous renting to strangers

Does anyone have some experience doing this?

Is there any vetting of guests?

Insurance?

Fees?

 

We have a "cottage" in Bobcaygeon. We have had the same winter tenants from Oct 1 to April 30th for the past 12 winters. They have a trailer that they move to for the summer every year. Not the scenario you are asking about...however...if you wanna discuss shoot me a PM. This was recommended to us by a long time Caygeon family and has proven to be a win/win for us and our winter tenants. Again PM me if you wanna chew the fat about this.

Edited May 15, 2017 by crappieperchhunter

[mistaredone]

Use one of the big rental company's to rent out your cottage. That way your covered under a contract with deposits should any problems arise.

Edited May 15, 2017 by mistaredone

[BillM]

Details on the cottage? I'm possibly interested in a rental.

[captpierre]

Details on the cottage? I'm possibly interested in a rental.

I have it listed in OFC classifieds

[captpierre]

Use one of the big rental company's to rent out your cottage. That way your covered under a contract with deposits should any problems arise.

I was thinking that

My kids say AirBnB, VRBO.

[mistaredone]

I think you make more money on air bnb with the nightly rental fees but I was talking more the Ontario specific cottage rental sites. There is at least a half dozen good ones.

[OhioFisherman]

I used to rent a lakefront home in New York state, the owners seemed thrilled to death that I knew what wasn't a good plan putting into a septic system! Keep in mind that some city dwellers have had zero experience with them and will flush anything.

 

I can certainly understand your concerns.

[mistaredone]

Google cottage rental Ontario. I've used most of the first 10 company's over the years. All good experiences even when mishaps happen.

[jimmer]

My opinion is that it's not worth it for two weeks. I also live on Pigeon Lake.

There is a home/cottage (newly renovated close to a million dollar home) down the street from me that has gone to weekly rentals during the summer and it's always a shyte show, problems with septic, too many people, no respect for neighbours, drunks, noise, etc.

Unless you hate your neighbours. LOL

[Old Ironmaker]

A cottage full of citiots can do huge damage to a vacation home. A few years ago we had a friend house sitting with her friend and their 5 kids and friends found out later 10 total. I had to call a plumber in to snake the drain to the septic the first day. Then somehow they left the hose on overnight, drained the cistern and burned out a new pump, had to pay a plumber to replace it, call in for a load of water, huge money that would have taken me a few hours, maybe. I just wanted to tell them to go home after the first service call, never again, and these were friends. It sure didn't make for a great vacation for us, actually stressful. Every time the phone rang I cringed. It cost me $1000.00. When I realized those kids they used some of my rods and reels and were into some of my tackle I lost it on my poor wife. Other than letting very young kids use my tackle, that wasn't right but 2 women from the city most likely think fishing equipment are toys. The rest was just inexperience. What made me upset I went through the entire place and stressed about putting toilet paper and stuff down the toilet. Even explained if that pump ran for more than 5 minutes to throw the switch that I marked in RED. Of course get the call during breakfast and she says there isn't any water coming out of the taps. Only been running for 1/2 hour then smelled something strange so she shut off the pump. Good girl, at least the place didn't burn down. We packed in my once in a lifetime Musky trip 3 days early that my wife got me for my 60th.

 

Never ever, ever, ever again.

Edited May 15, 2017 by Old Ironmaker

[captpierre]

We have been renting it 2-3 wks/ year for years.

Have regular customers. People we know.

Have had no problems.

This year they have other plans so I'm looking to rent.

Hopefully find good people that become regulars.

3 wks of rentals pays most of the expenses- insurance, property taxes and hydro.

Don't really want to give that up but having the place wrecked and pissing off the neighbours is not a good thing.