What’s The Worst That Could Happen?
For vacation homeowners who maybe aren’t using the home as much as they’d like or for investors who are weighing their options, a short-term vacation rental is a great option. They can bring in double or even triple the amount of revenue that a long-term rental can. Short-term vacation rentals have become popular near Lake Keowee and Lake Hartwell since vacationers stay for more extended periods and prefer the space and amenities of a home rather than a hotel.
But, as with any investment, there is a risk. Some short-term vacation rental owners have shared stories of nightmare renters who have cost them thousands of dollars in damages and legal fees. How does that happen?
Read on to find out.
Loud, Obnoxious Parties
Even though Lake Keowee and Lake Hartwell tend to be laid back and peaceful, you may have guests that want to get loud. Nationwide, vacation rentals have a reputation for being party houses which lead to noise complaints, property damage, and fines from the city.
Tip: To avoid this, you can try to screen people before they arrive at your rental. You can also require guests to stay a minimum of two nights which has been reported to reduce the likelihood of someone trying to throw a party.
Thanks in part to the loud, wild parties discussed above, many neighbors have become fed up with vacation rentals. In many neighborhoods across the country, neighbors have gone to local HOAs or municipalities to complain and get more regulation on short-term rentals. This has led to some HOAs requiring a lease to be for at least 30 days and some HOA’s have prohibited vacation rentals altogether.
Tip: As a property owner, it is wise to stay in the loop with the HOA and attend board meetings to voice your opinion so that you won’t lose out on the income you are making from your rental.
Someone Overstays Their Welcome
Once you visit Lake Keowee, you’ll never want to leave and this could be something you have to deal with if you use your Lake Keowee home as a short-term vacation rental. Airbnb has a policy that charges the guest 1.5 times the regular nightly rate if they decide to stay past their check-out date, but what if that doesn’t stop them?
Tip: Many property owners will have guests sign a lease agreement prior to check-in. This will help if you need to call the police to remove the guest and make the eviction process faster and easier if it gets to that point.
Most of the people who use short-term vacation rentals are courteous and respectful of the property. But, it isn’t a bad idea to prepare yourself for worst-case scenarios.
If you’re interested in homes for sale on Lake Hartwell or homes for sale on Lake Keowee that you’d like to use as short-term rentals, we are here to help you. Our team of agents are experts in the area and will help you purchase a home so you can get it ready for the spring and summer seasons, where you’ll likely get tons of visitors.