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What to Look for When Buying Sofas for Vacation Rentals

Vacation rental furniture must be durable in order to stand up to regular use by a wide variety of vacationers who may not care for your furnishings quite as well as you would like them to. Holiday rentals, by their nature, are occupied by a constantly transitioning parade of temporary residents who use them as a home base for family vacations, ski trips, weekends at the lake or corporate retreats in the mountains. While some renters are mindful of the furnishings and treat their temporary housing as if it was their home, many do not. Anyone who owns temporary rentals has either heard stories of raucous parties and trashed houses, or they have experienced these things themselves.

Knowing that your furniture will very likely be mistreated by at least some of the folks who call your rental property home for a weekend, a week or a month, it is imperative that you invest in furnishings that you will not have to replace every time a rowdy group of friends parties a bit too hard or a pair of permissive parents lets their children run loose with chocolate ice cream, crayons and fruit punch. This is particularly true when purchasing a sofa, since you know this piece of furniture will definitely be used on a daily basis and will take the brunt of any mishaps that may occur.

What to Look for When Vacation Rental Sofa Shopping

When shopping for vacation rental sofas, there are three main factors to keep in mind: They should be durable, washable and renewable. Other features that might not be deal breakers, but are certainly nice to have, include storage space and the ability to be separated and moved around to create a variety of seating arrangements.

Seeking out high-quality, durable sofas is a given when shopping for rental furnishings. Poorly made furniture will not last and is not worth the money, even if the sofa was incredibly cheap. If you have to replace your rental’s sofa every few months, or even every few years, you are not getting the value you need out of the piece. Therefore, shopping for sofas with sturdy construction from a reputable manufacturer is essential.

It is also important to keep in mind that even the most well-constructed sofa can still be damaged from spills, cuts, ill-mannered pets and rowdy guests. This is where choosing a washable fabric sofa from a company that offers replacement fabric, cushions and pieces comes into play. Washable sofa fabrics are a must-have and allow you to easily launder all of the sofa fabric at the end of the vacation season or when a guest soils the fabric during their stay. This alone can save you hundreds – or even thousands of dollars – while making it easy to keep your rental attractive and appealing to new guests.

Of course, you may have more than a spill to contend with if your renters managed to cut the sofa fabric, allowed their dog to chew up a sofa cushion or somehow managed to break one of the wood pieces on the arm or back of the sofa. If you purchased a sofa from a company that does not offer replacement pieces or fabrics, than this would mean costly repairs or needing to replace the sofa completely. But if you purchased the sofa from a company that allows you to easily order a single replacement cushion, new fabric pieces or new wood pieces, than you can inexpensively and conveniently have your sofa looking as good as new. This kind of renewability is an important part of getting the best value when furnishing rental properties.

Other Things to Consider When Shopping for Sofas

In addition to these must-have qualities, the sofas you choose for your rental properties can also serve additional functions, if the right sofa is chosen. For example, choosing a storage sofa that offers storage space under each cushion is a great way to make room for extra bedding, pillows and towels without having to purchase a cabinet or cluttering up shelves with these necessities.

If your rental caters to larger groups, you might want to also consider purchasing a sectional sofa that has multiple pieces that can be grouped together or separated to provide a variety of seating options. This will appeal to guests with varying needs, such as companies holding retreats, and is a great way to fit abundant seating into a small space.

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Myrtle Beach Vacation Homes

Myrtle Beach is truly a great place to get away and enjoy a vacation. There are 60 miles of sandy beaches, and more than 100 golf courses to enjoy. Known as the Grand Strand, Myrtle Beach area is truly a fantasy for couples and families alike.

Many families rent Myrtle Beach vacation homes rentals from owners in the beach area. These vacation homes are villas, apartments, cabins, lodges and condos. They are also oceanfront homes and golf course condo rentals and most reservations can be made online.

A Myrtle Beach vacation home is the perfect beach vacation spot for your family with its sandy beaches, blue seas, and golf courses nightlife and retail outlets all around you. A Myrtle Beach vacation home offers a holiday by the sea that is fun and relaxing for you and your family. There is so much to do. . If you decide to rent a condo, you’ll be treated to other amenities like a health club and swimming pool. Many condos sit right on the oceanfront and have spectacular panoramic views.

Just make sure when you look into rental a home in Myrtle Beach you check on policies about children and animals. Check to see if there are any additional costs involved other than booking and rental fees. Some owners require a deposit. Always make sure to check condo contents against an inventory list, to make sure that you are not charged for something that was never there. And of course, make sure that the vacation home is the one that you saw in the picture.

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Should You Purchase A Vacation Home?

Summer has arrived, and for many families, that means getting away for a few weeks. While enjoying beautiful surroundings, warm sun or cultural enrichment, it's easy to imagine how nice it would be to own a home that would let you do so whenever you wanted.

But don't let your imagination run away with you. Before you snap up a beach house or a mountain cabin, give the same thought to the purchase as you would to buying your primary home.

The first question is whether you can afford a vacation home. Have you covered educational expenses for your children? Is your retirement secure? Is your emergency fund solid? Don't rob yourself of essentials to cover a second home, no matter how great its potential as an asset. Even if you buy the property outright, you may not be able to access the equity for some time.

A second home entails more expense than you might imagine. Beyond the purchase price, you will need to consider maintenance, security or a caretaker, utilities, property taxes, furnishings, travel costs and other items. You may also need to pay association or assessment fees. And if you intend to rent your property, you will most likely need to pay for advertising, and possibly for a property manager.

Further, insurance can be a major expense. Property insurance for a second home often costs more than for a primary residence, and may be more difficult to obtain. The more the house will be vacant, the higher you can generally expect premiums to be. Insurers may also want you to pay more if you plan to rent the property. In areas where floods or hurricanes are possible, flood insurance generally must be added separately.

When considering how you will finance the home, remember that second mortgages are usually more expensive than primary mortgages, as banks tend to believe that they are assuming more risk. Lenders may look at an applicant's income, rather than general assets, which can make approval harder for retirees or those approaching retirement. Some buyers consider taking home equity loans on their primary residences to fund second homes, but this puts your primary home at risk.

When deciding whether a vacation home is a practical purchase, estimate all these expenses to get an idea of ​​the carrying costs for the property. If you plan to maintain the property mainly for your personal use, divide the costs by the number of days you plan to visit, so you can see whether renting a home or staying in a hotel might be sounder financially.

Some people do consider a vacation home a moneymaking vehicle, or choose to use it for both personal pleasure and to generate income. However, counting on rental income to net a profit after expenses may not always be realistic. In a high-demand locale, such as a ski resort or a desirable beach, your chances are slightly better, especially if your property is within a three-hour drive or so of a major metropolitan center. But the fact remains that, while 25 percent of vacation homeowners say they intend to rent their second homes, only 15 percent do so. Those who do so profitably form an even smaller group.

Perhaps the most important financial consideration is the tax implications of a second home. The primary factor affecting your personal tax situation for a vacation home is the property's anticipated use. Will your second home be used only by you, your friends and your family? Is it practical to rent it to others seeking a vacation site? Specific tax rules for renting out your vacation home may help guide this decision.

You must first determine whether your vacation home is considered a residence or a rental property. The Internal Revenue Service considers your second home a residence if you personally use it for either 14 days a year or more than 10 percent of the number of days the home is rented out, whichever is more. Your use, a relative's use or use by an unrelated party renting at less than fair price all count as "personal use" in determining the nature of the property.

If your vacation home is considered a residence, certain deductible rental expenses may be limited. Renting a property that the IRS considers a residence does not qualify as a "passive activity" for the purpose of income taxes. This matters because a loss incurred from one passive activity can be used to offset the income gained by another. Since renting a second residence is not a passive activity, you cannot use any rental expenses in excess of your rental income to offset income from other sources.

If the IRS considers your vacation home a residence and you rent the home out at least 15 days in a given year, you must characterize the division between rental use and private use. You must report all rental income in your gross income in addition to accurately dividing your expenses between personal use and rental use. Certain expenses, such as mortgage interest and property taxes, are usually fully deductible no matter how they are characterized, but are reported in different ways – to offset rental income if they are rental expenses or as itemized deductions if they are personal.

Other expenses, including maintenance fees, insurance, depreciation and other costs involved with renting out your vacation home are only used to offset rental income when they can be classified as rental expenses. (A complete list of deductible expenses can be found in IRS Publication 527, "Residential Rental Property.") The allocation to rental use determines the amount of your expenses used to offset rental income. If you rent the home for half of the year, then half of your expenses may be deducted against your rental income. Given the complications of this division, it is probably wise to involve a tax professional if you intend to use your property for both personal and substantial rental activity.

If you do not want the burdens of allocating expenses and continually seeking renters, consider taking advantage of the preferential tax treatment the IRS offers for short-term rentals. The IRS permits you to rent your vacation home for fewer than 15 days annually without reporting any rental income in your total income, thus tax-free. Understandably, you may not deduct any expenses related to renting the home, as there is no reported rental income to offset. In this scenario, you would itemize all of your mortgage interest and property tax deductions on Schedule A.

If your second home will be primarily for personal use, be aware of residency rules in the states where both of your homes are located if they are not the same. Reestablishing your residency can be useful, but is sometimes challenging. New York, for example, is notorious for finding ways to keep its former residents on the tax rolls. A former New Yorker may want to take advantage of Florida's preferable tax climate, but it isn't simply a matter of deciding it's a good idea.

While a timeshare may seem like a better idea on paper than buying a vacation home, the reality makes it unappealing for most people. In a timeshare, you pay a lump sum up front and maintenance fees thereafter. Atraditional timeshare then guarantees you the use of a specific unit at the same time every year (typically for a week, though it varies). Some newer timeshares operate on a points system, which gives users more flexibility in when and where they vacation, but also leads to competition for the best units at the most desirable times.

Though a timeshare is cheaper at the outset than buying a vacation home, it does not offer the same equity or appreciation potential. In effect, you are simply paying for years of vacations in advance, not investing. Additionally, maintenance fees can increase, and most timeshares don't have a built-in expiration date. Because timeshare property is notoriously hard to sell, this can leave you (and potentially your heirs) indefinitely paying fees on a property you no longer wish to use. You would likely do better to earmark a portion of your portfolio for an annual vacation rather than to purchase a timeshare. This would allow your assets to appreciate, and would avoid the risk of locking yourself into an agreement with no simple exit.

If you decide to purchase a vacation home, several considerations remain. Location is crucial. Choose a region where you will want to be often – once a year or more – and possibly to the exclusion of other travel, depending on your time and resources. Rural areas can sometimes increase expenses; for example, insurance may be more costly if you are far from the nearest fire station. In addition, many desirable vacation properties are at increased risk for floods or earthquakes, further driving potential insurance costs up. If your desired property is abroad, review that country's ownership laws and its history of honoring ownership claims from noncitizens.

Finally, think ahead to the possibility of selling your vacation home one day. As soon as your use of the property declines, it is probably better to sell it to eliminate the carrying costs and free the capital for other purposes. You may use the house less than you expected, or you may have used it a great deal when your children were younger but less now that they have become adults. Regardless, getting the process under way as soon as you know you want to sell is important. The housing market is still relatively weak, so it may take longer to sell the property than you expect.

If you rent your vacation home enough for it to be characterized as a rental property, you will want to recover the cost of the home through depreciation. Recovery of the cost for residential rental property under the General Depreciation System (GDS) spans 27.5 years. This capitalized expense can be used to offset rental income, thus lowering your tax bill. Deducting depreciation may cause a net loss on your rental property; However, since your second home qualifies as rental property and not as a residence, you can reduce other income from passive activities with the loss. Remember, if you visit the home on vacation, you may only deduct depreciation allocated to rental days.

When the time comes to sell your vacation home, note that the IRS will treat the sale differently from that of your primary home. Your vacation home does not benefit from the $ 250,000 capital gains exclusion ($ 500,000 if married filing jointly) that your primary residence does. If you have owned the property at least 12 months, any profit from the sale will be taxed at the long-term capital gains rate.

In addition, if you claimed depreciation on the home due to rental use, you will need to refigure your cost basis to determine the gain. Even if you did not claim the depreciation deduction, you must still reduce the cost basis of the home by the amount of depreciation you could have taken. The portion of gain on the sale due to depreciation lowering your basis is considered depreciation recapture and will be taxed at 25 percent.

A lose-lose scenario arises when selling a vacation home; you do not receive any of the capital gains exclusion mentioned above, nor do you receive any tax benefit if you realize a loss on the sale. For this reason, consider converting your vacation home to a primary residence before selling. If you make your second home your primary residence for two of the five years prior to selling, you will qualify for the maximum capital gains exclusion.

If you want to keep the vacation home in the family rather than selling, it can cause some estate-planning complications. No matter how well your children get along, co-owning a property can lead to disagreements and hurt feelings, as can give one child the home and another child an asset with less sentimental value. Even if your children share without issue, they may leave it to their children, resulting in a property split between eight or 12 cousins ​​who may or may not know or like one another very well. Those who wish to keep the property may not be able to buy out those who wish to sell. All in all, it can create drama you may not foresee.

In the case where selling the home is too painful or impractical during your lifetime, you can direct your estate to sell it and divide the proceeds among your heirs. Alternately, you can set up a trust for the property's operating expenses, then grant your heirs use of it under certain circumstances. Whatever you do, make your desires explicit, both in your will and by discussing them with your children or heirs. Ideally, involve a financial planner or an estate-planning attorney. Put everything in writing.

A vacation home can be a wonderful luxury, providing a place to get away from your day-to-day life and to build treasured memories with friends and family. As long as you think of it as a purchase rather than as an investment, you can make an informed decision about what's right for you. Then, if you do buy a vacation home, you can approach it with realistic expectations and a good chance of enjoying it for years to come.

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Some Good Reasons to Opt For a Beach Vacation Home Rental

There are many good reasons why a person should choose to live in a beach vacation home rental. For one, it will give you a chance to enjoy living in secluded homes, and to also enjoy the romantic feel of living in complete privacy with nothing to disturb you other than the excellent ocean views and the brilliant moon above. There are also different types of beach vacation home rentals to choose from including cottages as well as resort condominium properties as too bed and breakfast inns by the ocean.

Special Feeling

Living in beach vacation home rentals will allow you to enjoy the special feeling of watching the sun rise as well as set over vast expanses of beaches. In addition, you can fall asleep at night to the sounds of the surf striking the shore and enjoy the cool and soothing winds as well as listen to palm trees rustle in the wind. What really makes it worthwhile to live in a beach vacation home rental is the complete relaxation that you will get to enjoy.

Living in a beach vacation home rental by the ocean will also provide you with special kind of intimacy with pristine blue colored waters of the ocean and many of the rentals are in fact strategically located by the ocean that will ensure that you are able to get away from the hustle and bustle of cities.

You can also choose from different beach vacation home rentals including cabins with their own unique cozy atmosphere; bungalows as well as scenically located cottages that will make your beach vacation truly unique. In addition, you can choose to live in the more luxury accommodations which are sure to be well maintained thereby ensuring that you lack for nothing while spending time exploring the beaches and nearby areas.

The best part about choosing beach vacation home rentals is that you will get much space to live in and you won’t feel claustrophobic as would be the case when confined to hotel rooms. Also, beach vacation home rentals allow for an entire family to enjoy their vacation in each other’s company and there are also excellent kitchen facilities that will ensure that you don’t need to worry about having to dine out.

When seeking an ideal beach vacation home rental it makes sense to also check out vacation home rental websites, especially if you are interested in finding a rental in a foreign country. The Internet will throw up far more options and you should also be able to get better rates as well.

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Find The Best Rental Vacation Home To Make Your Trip Affordable

Cost of accommodations eats up a major portion of your vacation budget. Won't you love to find a place to stay that does not strain the wallet as much as staying in a hotel does and, at the same time, offers the same amount of comfort and luxury? Rental vacation homes are the ideal option if you want to have an enjoyable as well as easily affordable holiday tour.

Their cost considerably less than hotel rooms, even as they give you a lot more space and freedom to do your own thing. They are an especially desirable option when you are holidaying with your family or a group of friends. With this kind of home, you feel just as if you have brought your home along with you; the kids don't feel restricted and have the space to play around and you can even cook your own food, which helps save on the expensive restaurant meals.

If you are planning a holiday, you must plan it well to make sure that you book the best value rental vacation home. Here are certain pointers in this regard:

  • The golden rule for planning anything is to start the job well in time so that you don't have to take hasty decisions. This is even more essential when you are planning a vacation. You won't like to see that the homes you prefer are already booked. So, get online, log on to a business directory and start searching for the available vacation rental options in the destination you are planning to visit.
  • Make extensive research and comparisons before settling for a particular vacation home.
  • To get the best deals, it is important to time your vacation right. If you visit a place during the off-season, you will be able to avail attractive discounts. You are also likely to get better rates during the weekdays than on the weekends.
  • Be clear of all the details before making any payment. Confirm the exact lodging arrangements, number of beds, baths and other facilities that are being offered. Ensure that the appliances offered at the vacation home are in fine working order. See to it that the place is sufficient for accommodating your travel group and if you are bringing your pet along, make sure that the place is pet-friendly.
  • Take care that the vacation home is located at a convenient distance from the popular tourist destinations of the place.
  • Inquire about extended stay discounts and also the refund offered if you leave before schedule.
  • Read every detail of the contract carefully before signing it.

When you are aware of the things that should be considered, you can easily find the most comfortable and affordable rental vacation home.

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A Guide to Vacation Rental Home Options

You might just be planning a short holiday – in which case you'll likely be weighing up the pros and cons of staying in a hotel room versus renting private accommodation. The decision you make here is dependent on a number of factors, namely how long you're going to be away for.

If your stay spans only two or three nights, a hotel room may be worth consideration – especially if you're going to be out and about during the day. Hotels can provide a great solution for individuals or couples, as long as you're prepared to eat out at restaurants or order room service.

If you're traveling in a larger group or as a family, however, hotel rooms can be very limiting in terms of space. The same applies if you're planning on being away for more than a couple of days, as a hotel stay can feel very restrictive.

The one major plus side of staying in a hotel is the access to a range of services – such as cleaning, laundry and having your meals cooked by a professional chef. Having these things taken care of can make the holiday feel more like a luxury break and frees you up to enjoy quality time.

What many people don't know is that there are many private rental options that offer these same services. For example, you and your family could stay in a fully managed condo, where full maid, bar, chef and even butler services could be at hand.

By choosing a managed rental home, you will take the day-to-day stresses out of your holiday, whilst enjoying more space and privacy. These domestic services may be available in a whole range of rental homes – apartments, villas and houses for instance – so it's worth looking into if you don't want to stay in a hotel.

Villas are often the ultimate go-to accommodation for luxury retreats. This is often because they are vast and roomy, as well as being found in secluded locations. Many will have gardens or grounds, as well as an outdoor pool.

Villas are available from 1 or 2 bedrooms up to 8 or 10, so can provide an ideal solution for any number of guests. How large your villa is and its unique features will obviously depend on what you need for your holiday. It's a good idea to talk this over with an experienced travel adviser.

Apartments are often smaller, but can be ideal if you're traveling individually or with a partner. Many people would rather not to stay in hotel rooms when they are traveling alone, preferring the peace, tranquility and solitude of a private rental home.

Holiday apartments can be great if you're looking for a place to cook meals as well as sleep and use the bathroom facilities. Those looking to rent longer term but still adhere to a limited budget may benefit from an apartment more than a condo or villa.

Condos provide a happy medium between a hotel and a rental home, often offering all the amenities and services of a luxury hotel but with a lower cost per bedroom. This is ideal if you're traveling as a large group of with a family, as there will be much more space available to you.

For more information about your different rental home options, spend some time researching travel agents that specialize in the particular area you're traveling to. These agents will be able to provide a whole host of services – making your holiday one to remember.

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Renting Vacation Homes for Newbies

For a more cozy and warm ambiance while on a vacation, try to rent vacation homes instead of lodging in hotels. Whether you will be travelling with the whole family or travelling alone, whether you will be travelling for pleasure or for business, vacation homes can make you feel more comfortable and at home. If you are a newbie in renting vacation homes, here are some tips that you might want to follow.

Plan as early as possible.

Once you have decided where to go and what to do, jumpstart your search for a vacation home to rent. Avoid last minute reservations since they will cost you more and may strain your budget. If possible, plan and make a reservation as early as six months from your vacation date.

Look around and ask for referrals.

In these days, you can rely on the internet to look for vacation homes to rent. There will be a lot of online postings of homes that you can rent from different places. Aside from this, you will also be able to read feedbacks from previous clients. This will give you an idea about how good (or bad) the accommodation is.

If possible, try to look for a house to rent with a good locale. Although this may cost much, at least you are getting the best from what you paid for. You can also try to ask from your friends or neighbours if they can refer a good vacation house to rent.

Read and understand the contract before signing.

The contract is an agreement between the home owner and you, which would include details like who pays for the bills for the utility, phone and cable. Also, this would include who will be responsible for housekeeping. There are those home owners that have regular cleaners come by to take care of the house, while some would leave this responsibility to the renters.

Take note of the important details as well such as the furniture and basic facilities inside the house such as the heating system or air conditioning system. Get the contact number of the owner so you can contact him immediately for urgent concerns.

Document the area upon arrival.

This may take some effort from you, but it may save you from problems in the future. Upon arrival, take a photograph or video the area, especially in areas where there is damage so you can avoid argument upon checking out. It is always better to be safe than sorry.

Check and recheck before checking out.

Before giving back the place to the home owner, walk around the area with him to ensure that everything is where it is supposed to be. Run through the bills that you have paid to avoid confusion or paying for them twice. Through this, you can assure the home owner that you have taken good care of his property.

Renting vacation homes for starters may be handful, but through careful planning and early booking, problems can be avoided. Nobody wants to be stressed out while on a vacation.

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Lakefront Vacation Rental Homes

When considering lakefront vacation rental homes, statistics suggest that vacationers show a preference for lakefront properties. This can be explained keeping in mind the cool breeze, privacy, proximity to the water body and possibility of engaging in water sports and swimming for a major part of a holiday. Lakefront vacation home rentals tend to be privately owned property. Otherwise, they can be acquired by hoteliers and transformed into well-advertised commercial vacation properties. Depending upon ownership the scope of service and amenities provided are altered. Lakefront vacation rental homes, when owned by individuals, are very similar to service apartments. This is because homeowners tend to hire porters, house cleaners, and chauffeurs to cater to guest requirements. As such, rentals are compared to star-rated service apartments within the area.

Lakefront vacation home rentals tend to be pricey as compared to regular rental properties. This is determined by its uniqueness of location and the view it provides to the tourists. Vacation homes may provide boat rentals, swimming gear and underwater equipment rentals as part of all inclusive holiday packages. Lakefront vacation home rentals are preferred by larger families and families with children. This is because these holidays provide a source of continuous recreational activities along with being an ideal platform to allow family members to bond through fun and games.

Though classified as residential real estate in most cases, these purchases prove to be far more expensive than regular housing properties. Owners rarely use lakefront vacation homes except during vacations and family gatherings. If these properties are large enough, owners can use them even when guests are staying over. As such, they are almost always put up for rent and help bring in favorable returns for owners. In case, owners do not reside within the same city, they may vest rental activity rights and responsibilities to reputed real estate agents who work on their behalf for exchange of a regular service charge.