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52 of 55 people found the following review helpful:
5.0 out of 5 stars
10 star winner!, August 16, 2004
We have various family members who now own vacation homes or second properties in Hawaii, France, Mexico, Wyoming, Montana, here in California and along Hoods Canal in western Washington, and one thing they all worried about was what would happen if the wrong people rented their properties. And since I got the book in June I have had to fight to read it, since so many of my family and friends would see it on my table and would grab it and rave about it.
This is the first (literally) book I (and my family and friends) have found that tackles all the hard questions, worries and various 'what ifs' on the subject.
Beginning with the 'before' you buy questions, which is something I know a lot of people never really give much thought to, since many assume renting it out during off season etc will be a breeze. I especially liked the chapter dealing with 'why self management makes sense' since this is an issue I know something about. How many prospective rental owners know that a management company who handles rentals for clients can take 30% or more as a commission? Or that using a rental manager doesn't assure your property will be safe, or repaired in a timely way without gouging your bank account?
The author deals extensively with the how to of finding clients to rent your property, including which websites are the best and what to have on your website as well. This includes good and accurate digital photos of all the rooms, yard, as well as Mapquest.com links so people can see how close they are to stores, beaches, rivers etc, that would be a draw as well as a drawback. A place may look nice on the website but how many owners show photos of the neighborhood so that clients can see that its safe and clean?
The author covers how to screen clients, pet clauses, smoking, and party issues and issues of liability in general. Will you use PayPal, credit cards, checks etc? What about the phone in the property and the agreement on use and charges? This is why I like the call anywhere in the country one fee programs phone providers now offer. If you have DishNetwork will there be an extra fee for use or will that be included in the rental fee?
Will you provide bed linens and basic kitchen items? What about those few people whom you can never please? How will you handle them and how should you, legally? These are also covered in-depth.
Does the state where the rental property is require you to pay state or local taxes like some hotel, motels charge a fee or tax for? These are all things you need to think about before you even buy a vacation rental.
The back two 'chapters' or index's offer a lot of Internet sites for valuable information that makes the price of the book worth every penny.
Ms. Hrib Karpinski deserves a lot of thanks for finally writing a book that is easy to read and understand as well as recommendations of those she trusts who might provide the reader with even more information.
And I am buying a copy for my local library as well! Also check out her website by the same name www.HowToRentByOwner.com
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26 of 28 people found the following review helpful:
5.0 out of 5 stars
Thinking of buying or renting a property? This is THE book, August 7, 2004
Author Karpinski wrote me that one reader wrote to her saying "My first renter wrote me a nice note about how much fun they had and how they want to rent it again next year. Then she says, "Friday as I sat down to eat lunch, I heard a crack before the chair broke and I fell to the ground."
Just though you would like to know how true your words are. Thanks! Now I'm re-reading your book to see what else I snubbed my nose at the first time around."
That's the point of "How to Rent Vacation Properties by Owner." There is detail, detail, detail, and you'd better read this with,well, to mix metaphors, a fine-toothed comb. Not only is the advice to furnish with STURDY chairs in there, but other wisdom that can save you, the vacation landlord, time and money and heartache. Have you considered a condo versus a free-standing property? What about maintenance, what about distance from the property? Are you going to be able to handle that or will you need someone to help you? Don't forget, a condo has maintenance included in a fee, usually. That fee may look large at closing, but later on...
What about the 20% downpayment usually required by lenders? Turns out that, too, can be borrowed. PMI, mortgages, lending, this is also covered.
How do you advertise to get the best results? What needs to be in that ad? Where do you advertise?
I can't go into all the detail here, but chapters include finance, self-management, advertising including photos and description writing, pricing, organization techniques, tax collection and payment, key management, problems such as major damage, minor depredations, theft, cancellation and complaints.
If you plan to rent a property, this is an absolutely essential book, written by someone with first-hand experience and an eye for detail. Get it.
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52 of 61 people found the following review helpful:
1.0 out of 5 stars
WARNING! This book is a 300 page advertisment for the author's employer, July 7, 2007
This review is from: How to Rent Vacation Properties by Owner Second Edition (Paperback)
After reading the reviews I thought this would be a useful book. It certainly has lots of information in it, that you can find for free on the internet. I certainly did not learn anything I already did not know.
Although that was annoying it was not as infuriating as finding out that the author works for a company called HomeAway Inc. She fully disclosed the fact that she worked for them, which is fine, but she must have forgotten that almost all of the portal sites she mentioned are owned by HomeAway Inc, a small little fact that must have slipped her mind when her company was lining her pocketbook. In one passage on page 142 she recommends that you sign up for all 4 of the portal sites she `recommends' and only puts and asterisk by HomeAway, failing to state that HomeAway owns the other 3 that she 'recommends' you sign up for. Nice Christine, thanks for the full disclosure. After she recommends you don't go with a rental management company (in Chapter 9 she has a personal crusade against property management companies) because they take too much money, she turns around and `recommends' sending $1500 to her parent company. Wow, the hypocrisy!!! She certainly has chutzpah.
She peppers the books with 'recommendations' of websites that are either owned or affiliated with the company that employs her. I would recommend buying a book on how to rent vacation homes from someone who is not in the pocket of a company whose job it is to take a percentage of your vacation rental income. Maybe someone with at least some degree of ethics and objectivity.
For full disclosure's sake, I am not affiliated with any rental management company or any company that directly or indirectly competes with Home Away Inc. In fact, I am not even in the real estate industry in any capacity. It is just very aggravating to find out that I spent $20 to get a 300 page advertisement for HomeAway Inc.
It turns out that Mrs. Karpinski is just an arm of the HomeAway Inc marketing machine. I do not think that the author is the `expert' that she claims to be, just a huckster trying to sell the wares of HomeAway Inc. I hope in her next edition she does the ethical thing and decides to fully disclose her relationship with what she is trying to sell you on.
If you think I am just some crazy loon who likes to rant, just do a little internet research and you will quickly find out that HomeAway Inc owns most, if not all of the `recommendations' by the author.
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