Issue solved.  Renting absolutely has numerous advantages however make sure you understand how to do it correctly with these 4 crucial factors.

You Can Only Rent It If The Price Is Right

Finding out how much you should be charging for your cottage can be difficult particularly if you fail to look at it it at arms length.  It will take a bit of research on your part and you may need to enlist the advice of a real estate agent.  You will have to see what other cottages in your area are renting for.  The location your property is will play a role because if you have waterfront cottages Wasaga Beach, being a summer hot spot, will rent for more. In the winter season you could get excellent money renting your Blue Mountain condo if it is a short walk to the ski hill. If your area is not the best then make certain that it is in the best possible condition and be ready to negotiate.  If your cottage sits vacant for a week you will not make that money back.

A Picture Is Worth A Thousand Words So Take as Many As You Can

Advertising does not have to cost a lot but make certain you are getting the most out of it.  First you have to take a ton of photos.  If don’t already own one digital cameras are cheap and the photos cost you nothing.  So why not show people exactly what they should expect.  You are not only backing your case for the rent that you are asking you are also saving yourself from sifting through enquiries from people who may not be happy with what you have to offer.

You Must Be Found On The Web

Those who are interested in renting a cottage are not going to be local and can possibly be from major cities or even around the globe.  There are websites that focus on cottage rental listings or for more control you can create your own site.  Marketing on-line will give you exposure that you just cannot get in any newspaper or any other form of media.  There are a surprising number of rental cottages that do not properly implement this part which can you give a bit of an advantage.

4.  Be Speedy When Answering Inquiries

When a person phones or e-mails you about your place you can bank on the fact that your cottage is not the only one they are looking at.  The faster you respond the greater the likelihood is going to be that you rent your cottage for the rate that you are asking.  Renting your recreational property is a business and replying quickly can give renters confidence in both you and your cottage.

Through a combination of research, marketing, and some hard work you can rent your cottage and cover most of your costs or even make a bit extra.

Enlisting the help of an area professional should be your primary order of business. The real estate agent you select should have an in depth working knowledge of recreational properties. Do not assume that because an agent works in a community surrounded by lakes and cottages he will have the answer to your questions. Experience selling in the recreational real estate market should be your determining factor when selecting an area specialist.

One very important aspect to consider is zoning. You may be stopped in some cases from changing your cottage into a year round retreat by municipalities having adopted a season using zoning. The same is true for expansions and added constructions. Make sure you ask your agent about the zoning by-laws in the area that interests you. The cottage associations deal with the daily concerns while the zoning by-laws are established by the municipalities.

If you are in the market for a waterfront cabin, be aware that you may not be allowed to modify the beach or shoreline on your future property. In the case of Collingwood cottages, you may be stopped by the authorities from modifying the slope of the property or from adding fill. You will also need permission to modify or construct structures such as docks, boathouses, retaining walls, etc that impact the shoreline. It would be smart to add a clause to your buying agreement that warrant the legality of existing structures or to make sure that changes can be done in the future.

The road access to and from your cottage is another area that should be investigated before finalizing a purchase. You should find out if the road access is public or private, whether it is open year round, and who is in charge of the upkeep of the roadway. The access may be on a private right of way in some instances.

Another factor is the water and sewage systems. Water is drawn from rivers or lakes wells in many cases. To ensure that you water is safe to absorb, bring it to the local health authority for testing. You may have to install a mechanical purifier in order to receive potable water. The Environmental Act strictly regulates the use of septic systems and this is the most used waste disposal for cottages. In many of older properties, the septic system may be a crude improvisation. If you are planning to build an addition on the cabin, you may need to replace the septic system as it will most likely no longer be adequate.  

A last consideration should be the financing of the cottage. You will need financial assistance, if like most purchasers, you cannot manage to pay cash for the property. You will be required to put down a minimum down payment of 20% although the amount of financing available will vary with each financial institution. You should evaluate your financing options with a local mortgage broker who will be familiar with the financing choices available for cottage properties.

Determining whether you can afford a second house should be your first step. Go visit your bank manager to determine if there is a way to finance the cottage such as increasing your current mortgage or applying for a second one. You will need to have the income available to make the additional payments.

Choosing a location you can afford and will enjoy will be your next step. The drive time from their main property can be the main deciding element when selecting a location but other aspect should also be taken into consideration. Is short distance to a lake or ski hill important to you?  For instance Blue Mountain real estate in Ontario has skiing during the winter and beach activities for the summer making Blue Mountain cottages very popular as a year round destination. Do you desire a heavily wooded area with no neighbors close by?

You will need to evaluate the number of bedrooms, the structure and the condition of the house and its electrical and plumbing but you will also need to evaluate where your water comes from and whether your cottage is suitable for winter use. Find out if the road to your cabin will be opened year round by the municipality.  Evaluate the condition and location of the sewage system, in most cases a septic tank or tile bed. Find out the bylaws in terms of water sole access, hunter admittance and others traveling your land. One more thing to consider will be rights to remodel or build additions to your property.

A few other things to look into when choosing a cottage are the services that are close by. Services such as grocery stores, ambulance and fire department, internet, cell phone and telephone access as well as a marina close by may be crucial to you and should be considered.

The decision to purchase a cottage is nerve-wracking and exciting. However, it should not be taken lightly. The best way to make sure that you get what you want out of a new cottage is to do your research. Ask many questions, everything should be explicit to you. Find an knowledgeable real estate agent who knows the cottage country and will be able to assist you make the best choice.Your new cottage deck is waiting for you as is the nature in your little corner of paradise.