Considering an Investment Property?

Posted April 14, 2016 at 4:42 am by

Writ­ten by Mer­ri Ann Simon­son of Cold­well Banker San Juan Islands Inc.

Merri Ann Simonson - Contributed photo

Mer­ri Ann Simon­son — Con­tributed photo

Vaca­tion Rental Ver­sus Long Term Rental

Now would be a good time to pur­chase prop­er­ty held for invest­ment and due to mar­ket con­di­tions, a rental home in the San Juans would be the most appro­pri­ate. We are not like the met­ro­pol­i­tan areas near­by with mul­ti­ple offers on every prop­er­ty and robust appre­ci­a­tion; we remain in a buyer’s mar­ket in most cat­e­gories of property.

Once you have made the deci­sion of the type of prop­er­ty to pur­chase, then how you intend to use that prop­er­ty is the next process; vaca­tion rental or long term rental. To assist you with this process, I have com­pared the dif­fer­ent aspects of each below.

Vaca­tion Rental Gen­er­al Description.

Buy­ing a home with an exist­ing per­mit, cus­tomer list, web­site and income his­to­ry is the most prefer­able avenue. The per­mit for a vaca­tion rental runs with the land. It is annu­al­ly renewed auto­mat­i­cal­ly but can be void­ed by the Coun­ty should the home not be used as a vaca­tion rental with­in the last 12 months.

Con­tin­ue read­ing…(PDF)

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Categories: Business
One comment:

One comment...

  1. fan­tas­tic arti­cle, so well thought through and good objec­tive per­spec­tive with lots of need­ed details. I am involved and see the effects of the lack of hous­ing great­ly chang­ing the com­po­si­tion and diver­si­ty of our com­mu­ni­ty. It is a tragedy so many hous­es sit emp­ty with such a need. I under­stand it, some renter’s lack of respon­si­bil­i­ty can cre­ate gun shy own­ers, but many renter’s care about and take care of homes as if they were their own. Let’s hope some­thing changes soon!

    Comment by pam fry on April 16, 2016 at 1:16 pm

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