Startup Costs: $2,000 - $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No
If you live in a busy tourist area, there is probably a good chance that you can flourish by starting and operating a vacation property rental agency. It is not uncommon for people to purchase vacation homes and condominiums with plans to rent them either part or all of the year to tourists, to help offset the costs of financing, maintenance, taxes, insurance, and utilities. Unfortunately, rental income often fails to materialize, since many property owners don't understand how much time and work is involved in renting the properties'marketing, booking, cleaning, making repairs, and a lot more. Not to mention that most owners are sometimes hundreds'if not thousands'of miles away. As a result, many vacation properties sit vacant when not being used by their owners. This creates a terrific opportunity to rent these properties for the owners on a revenue-splitting basis. In addition to marketing and renting the properties, you will also be responsible for cleaning and light maintenance to ensure that they stay in tiptop condition and attract top dollar when they are leased. Start small, representing one or two vacation property owners, and run the service from home. As the business grows, so too can your time commitment until you are at the point of operating a profitable full-time business. The same business concept can also be applied to recreational vehicles and boats, if that piques your interest.
Absent property owners who would like to have their properties rented out, but do not have the time or the expertise to manage renters.
A computer and For Rent signs with your phone number emblazoned on them. Also, a scheduling book that will help you keep track of when renters are moving in and when their lease is up.