Rental Options

Most of the owners at SBC use their condos as an investment, so we are always looking for a better way to increase our revenue and searching for good rental tips. A lot of the homeowners use the on-site rental company. Other homeowners use off-site rental companies and some homeowners take care of the rentals by themselves. Someone once told me that renting a property is just like eating. You can take the time and effort, and cook your own meal. Or you can use the drive-through window for a quick and easy meal. Or you can sit down and be served a full course meal, just be prepared to pay. There isn't a wrong way or a right way, just options. Your goal at the end of the meal is to be full and happy. Below is what works for my wife and I.

We started renting our condo, by ourselves, a few years ago. We created a color brochure and sent it out to about 200 friends and relatives. We also created a website and posted it on the Internet. The first year, we booked almost every summer week and some of the spring and fall. The second year we did the brochure again and filled the entire summer, a lot of the spring, most of the fall and all winter. This year we did nothing and had to turn people away. It took some work at first, but each year has gotten easier. When we are around other people, we always make a point to mention our condo on the beach. Myrtle Beach is a popular vacation spot for the residents of my home state of Ohio. We have also donated a week at our condo for charity raffles. Our rents are on the low side, because our intent was to be able to share our condo with the people we know at a modest price. We have also allowed people, who were in need of an emotional break in life, to use our condo to recharge. Their appreciation has been worth more than the rent.

Finding a good maid service can be a little of a challenge, but by talking to other homeowners, we were fortunate to find a good person. Living in Ohio can make it somewhat difficult to handle emergencies, but with our maid service and other people we know in Myrtle Beach, it has worked out just fine. Also, because we rent to people we know, our guests generally take good care of our condo and have sometimes helped us out.

Tip: We replaced the lock on our front door this year with a keypad deadlock. Not having to deal with keys has been wonderful.

Share your experiences and knowledge, good or bad. Your fellow homeowners are waiting.