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Originally Posted by Toymeister
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It really depends how honest you are with yourself. Homes are not furnished for nothing, the used golf cart you provide cost 5,000 (or more). Most owners simply don't include these costs, to not amortize these is misleading.
Over time, with increasing rent, it does become a more favorable calculation. It is worth noting that the average owner rents just under five months a year.
How do I know? I reversed looked up 26 homes on VH4R and tracked those back to water usage to calculate occupancy rates. It was a interesting exercise.
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If your financial guy is not making sure you are tracking all your expenses you need to find a new guy, Keeping a separate account for rentals is a must, keeping even the cost of a evac filter. You do however have the ability to just write off the structure, not contents, again your financial advisor can give you guidance. Renting unfurnished, long term.. Only expenses are taxes, amenity, water, insurance. Making profit at the maximum.
We have friends that use multiple sites, what I did find on most sites, calendars are not kept up to date, and are rented more than what site says.
We found this on multiple rental sites when looking for high season homes prior to buying. However long term rental postings are usually kept up to date since home only comes open rental every 1 to 5 years.