Make Some Extra Income By Renting Out Your Cottage

By Author: Sue ten Brummeler
Total Articles: 9
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Do you own a cottage in Ontario? If so, you might be sitting on a source of extra income.

People are constantly looking for Ontario cottages for rent for special occasions and summer getaways. If you are like most cottage owners, you do not live full time in your cottage. This means that there are spans of time when you property could be generating extra income.

Lots of owners are enjoying the benefits of having cottages for rent in Ontario. What you waiting for?

There are options for management of the property. Some owners prefer the ease and hands-off approach of contracting a rental agency. Other owners prefer to manage all the details for themselves. There are benefits and disadvantages to each approach.

Contracting a Rental Agency that Specializes in Ontario Cottages for Rent

A rental agency handles all the details including reservations, payments, insurance, and more. Here are some of the benefits and disadvantages of using a rental agency that specializes in cottages for rent in Ontario

Benefits:
* Timesaving – Paperwork, payments, ...
... scheduling, etc. are outsourced, saving you time.
* Marketing – Rental agencies have established customer bases, and strong search engine rankings which means higher occupancy rates.

Disadvantages:
* Cost – Rental agencies cost money. Fee structures vary with each agency from 20% - 50% of the rental fee. Be sure to do your research.
* Disconnection – By outsourcing the rental, owners can become a little disconnected from the property. Be sure to value your emotional attachment to the property when choosing an agency.

Managing a Cottage Rental Yourself

By managing the rental yourself, you stay fully connected to the property and remain in full control of every nook and cranny. Rental cottages can be listed in classified ads, as well as through specialized cottage and vacation home rental websites. Many of these websites offer services that make management easier such as online reservations, contract templates, and more.

Benefits:
* Full Control – because there is no “middleman” you know who is renting, what they are doing, and how long they will be there. You dictate contract terms and prices.
* Scheduling/Flexibility – as the owner and manager, you decide the schedule and availability of the cottage, even on a whim.

Disadvantages:
* Time Drain – depending on how much you rent, it can be rather time-consuming to manage the property.
* Marketing – as an independent owner, it can be difficult to make your property stand out and compete with those marketed by professional agencies. Occupancy rates can be low.

These are just a few things to consider when planning to list your property for rent. Cottages for rent in Ontario are growing in popularity. Tap into the market by listing your Ontario cottage for rent today.

The writer is associated with Online Cottage Rental, the leading platform helping people find the right cottages to rent and allowing property owners to list and attract buyers/renters. They are the leading choice for Ontario cottage for rent in Canada.