What would be the summer rental for this property?" The question most asked by our buyer clients. This week’s portfolio includes properties we feel are outstanding rental opportunities. Investment might be a bit of an exaggeration since you would find a positive return mostly from inland properties suitable for year-round rentals. But, $25,000 rental income and up certainly goes a long way to paying the bills. These properties are in good to excellent condition, they are in areas that have always had high rental tenancy, and they are at reasonable prices considering their proximity to "summer fun". The better rental areas command higher rental fees and fill up well before other areas of Martha's Vineyard. After location and condition of property come furnishings, high on the list of what goes into creating a successful rental experience. A few ideas I picked up following BLOGs and articles at HomeAway.com include: decorate your home in bright, cheery colors; create a comprehensive list of available activities; and, highlight your outdoor living space. What an opportunity. You own a home in a desirable vacation destination, you have the fun of decorating, the joy of happy tenants and the bonus of actually vacationing!.
And of importance primarily for first time homebuyers is this welcome news: Housing Affordability Surges to Highest Level in 18 Years .
Remember, this is only a buyer's market if you actually buy!
