The Cottage Life Show in Toronto is the introduction to spring for thousands of Ontario’s recreational property owners.
Over 40,000 visitors throng the International Centre in Toronto over 4 days, and many of them are cottage owners who either already rent out their properties or are thinking of doing so.
So, in my day-job as CEO of one of Ontario’s leading rental management companies, I get to talk to hundreds of people who want to talk about the rental process.
Some are thinking of buying a cottage with the specific purpose of renting it out.
Others have owned one for years and are now being stung by increasing taxes or want to offset some renovation costs so have some reluctance about renting.
Then there are those who have been trying it on their own with Airbnb or VRBO and run into some snags along the way, so are now exploring the option of working with a property manager.
In this episode, I share some of the questions I heard such as:
- Airbnb isn’t working for me anymore – they are trying to drive my rates down. What should I do?
- How do we deal with neighbors who don’t want us to rent?
- What do you do for 20% commission that I can’t do myself for 3% with Airbnb?
- How do we find a cleaner….or should we do the changeovers ourselves?
- Will the renters trash my place?
- Our municipality has imposed some draconian restrictions – how do we stop our guests being reported to the by-law office?
- What amenities do I have to provide?
- Do I have to accept pets?