Would like info on owning and operating a vacation rental (rentals, easy)

[VALOVE]

I would like to hear from people who have owned vacation rental property. Has it been a good experience? Would you do it again? Did you use a management company? What were the obstacles you ran into? What town was it in and how difficult, or easy, was it to rent out? Any information from someone with experience in this area would be appreciated. Thank you!

[jersey2nm]

What vacation areas are you considering?

[VALOVE]

Williamsburg, VA. It's a place we like to visit every year. We actually already own a rental property there (not a vacation rental). Our plan has been to retire in that home someday. But recently we have been considering keeping our west coast home and buying a vacation home there, that we can live in a few months out of the year. Retirement is a LONG way off, so we have plenty of time to think about it.

[WendyJackson]

I NEVER wanted to own one and my husband talked me into it! We now own and manager 3 rentals and I LOVE it! It takes time and you have to enjoy it, but I've met great people, enjoyed the experience and it's helping with my overall retirement plan, so it's been a great adventure and learning experience. It's not for everyone, but I would be happy to answer you questions if you have any!

[Denkko]

Are these vacation rentals that you are talking about? We own a house that we want to "fix up" to use as a vacation rental. The house is in a coastal community and on stilts. Our plan is to rent the upper portion -- the "real house" -- and to enclose the bottom area to live on-site.

[WendyJackson]

They are vacation rentals and it's a lot of fun to own and manage one. There is a great Vacation Rentals group on Yahoo. Go to the Yahoo groups and join and you will learn a wealth of information!