A recent article posted to Martha’s Vineyard Times (MVTimes.com) illuminates an interesting issue regarding renting properties in the off-season and some of the challenges property owners face.
“I’ll never do it again,” said Ellen Duncan, of Edgartown, referring to renting her house for the winter. “They cost me much more than I made in rent. I had to replace my whole living room set, all my dishes. I had to buy a new refrigerator. I spent thousands of dollars to get back the house that I had. It scared me. They were destructive and they stole my bike and other things. The house was such a pig sty. There was so much damage”. She said the security deposit didn’t come close to covering her expenses. http://www.mvtimes.com/2013/10/02/winter-rentals-are-not-everyone-17524/
Issues with tenants are commonplace with standard rental situations, such as apartment complexes, and expected by landlords and property managers. Policies are in place to assist in the eviction of bad tenants and while it can be a costly effort it is a cost built into renting an apartment. However property managers that rent out single or small unit seasonal properties may not have the financial wherewithal or expectation of dealing with a tenant that destroys property.
Winter renters are often transients… “Sometimes they have animals and other guests staying with them, so the house may suffer from more wear and tear than a summer rental,” … “I have seen situations where the winter tenants don’t move out in time for the summer rentals, and of course, this becomes a huge problem and a big legal hassle. If you like your property, don’t do a winter rental.” http://www.mvtimes.com/2013/10/02/winter-rentals-are-not-everyone-17524/
The same conversation could be had if off-season occurs in the winter as opposed to winter being the off-season at Martha’s Vineyard.
Ultimately, one must protect the investment of a vacation rental property.
Adam Almeida, President and CEO of TenantScreeningUSA.com states: “A thorough tenant check should be conducted on any potential tenant and lease signer. Evictions, criminal history, and personal or previous landlord references are, at a minimum, critical. Bad tenants often focus on the single unit renter, especially off-season rentals.”
There is a definite temptation to rent a property during the off-season. Continuing a source of income is a great temptation but at what risk? The cost of repairing a property can quickly become prohibitive and those repairs may take place after the cost of eviction. In the end the best practice may be to resist temptation and not rent, but if one must rent in the off-season it is critical to conduct the most extensive tenant check possible.
Almeida states: “The cost of a tenant check is so small when compared to the cost of repairs and legal fees incurred due to eviction. A little due diligence goes a long way.”
TenantScreeningUSA.com provides tenant screening for rentals of every type, large and small. With a highly trained staff and extensive experience in tenant screening, TenantScreeningUSA.com can provide solutions to all background screening requirements a landlord or property manager may have.
