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Christine Creasey, owner of Florida Golf and Disney Villa ( http://www.lastminutevillas.net/villa/65/ ), reminds potential vacation rental owners how time consuming it can be to look after property, especially if you organize your own rentals. "Make sure you know who is going to manage your home in your absence," she advises. Running a full-fledged bed and breakfast is even more time consuming, requiring much longer hours than an office job, and probably hiring staff to help you manage.
Neil Thornton, owner of a 4-bedroom executive villa ( http://lastminutevillas.net/villa/335/ ) in Orlando, Florida, warns about grief caused by hurricanes, a common occurrences in tropical climates where vacation rentals are most popular. "Can you be 5000 miles away, knowing there are guests in your villa, there is a hurricane approaching and all power lines and telephones are down. What do you do?" asks Dave Gordon, owner of Lindisfarne Villa ( http://www.lastminutevillas.net/villa/89/ ).
Perhaps most obvious advice comes from Lesley and Gerry Heane, owners of Our Dream Villa ( http://www.lastminutevillas.net/villa/15/ ) south of Walt Disney World: "Always check out area and site of Villa." It goes without saying, but I have seen too people kick tires on a car but never try driving it before buying – and I am sure it is same with vacation rental properties, especially since they are so often so far away.
What all these vacation rental owners are saying boils down to knowing what you are buying, what it could cost you and being prepared before you buy. Every one of them enjoys owning vacation rental property, but many people jump in too soon, only to realize that this is not place they want to be.
Before you jump in, make sure you really want to own a vacation rental. If you do, I wish you many years of success and pleasure.
Freelance writer David Leonhardt can be reached at mailto:info@thehappyguy.com He is also a humor columnist: http://www.TheHappyGuy.com/positive-thinking-free-ezine.html And an SEO specialist http://www.TheHappyGuy.com/SEO.html Read more of his travel articles at: http://www.TheHappyGuy.com/travel-articles.html