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Vacation Rentals Articles – October, 2007 |
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What to consider when buying vacation rental home Tuesday, October 23, 2007
On visiting a vacation location, many people consider, and relish the prospective of
buying a vacation rental property so that they get additional income by renting it when they don’t use the
vacation home. However besides the monthly installment that you will have to pay, there are many
additional expenses that you will have to bear before you actually own a vacation home. The furnishing of the property is rather expensive so if you want to get repeat renters to your property, your house has to compete with the other vacation rental homes found around you, in other rental property.
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How a Second Home Subsidy Act can help to vacation home owners Thursday, October 18, 2007
The Taxpayer Relief Act of 1997 is also called the Tax Preparers’ Full Employment Act or the Second Home Subsidy Act. This is because this rule provides a home owner with extra money to buy a second home or vacation home for both profit and fun. Before this rule, about 5 to 10% of home sales were second home sales; with the implementation of this rule, 40% of all home sales by 2006 were second homes.
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