There are many pros to renting out your lake home, as we previously discussed. However, it is best to know all of the details. There are also cons to renting out your home, and you should consider all aspects of the situation before you make a decision.
No Vacations Last Minute
You will have black out dates, which are expected when renting out your lake home. These dates are when you will be visiting the home and enjoying your time.
However, when you are renting out the lake home, you will not be able to make a split decision on a whim to relax at your second home due to occupants.
Play the Roll of a Landlord
Playing the roll of a landlord is a very time consuming roll. It is especially time consuming when you have ongoing maintenance to perform at the lake home. You are the one who will be responsible for the repairs.
Strangers Move into Your Home
You have to really understand the concept of renting out a home that you also live in part time. You will need to become comfortable with strangers living in your home. They will be using your facilities, your beds, entertainment system, and even possibly interacting with your lake neighbors.
Wear and Tear
Things break, it is inevitable. However, they will need repairs or have less life due to more use. The home will have more wear and tear on it than a typical home. There is no down time for the home and the appliances in the house. They may need to be replaced sooner than expected due to the usage levels.
Now that we have covered both sides of renting out a lake home, hopefully you are ready to make a well informed decision on what to do with yours!