Whether you currently own or wish to buy a vacation property, you probably recognize the usefulness of diversifying your real estate investments. Of course, there is also the pleasure of frequenting an enjoyable vacation region and being part of another community with local recreation and entertainment opportunities. Beyond personal enjoyment, you might also consider relying on the property for rental income to help pay for ongoing costs, such as a mortgage and maintenance. But, depending on the property’s location, there could be specific municipal bylaws to consider regarding short-term rentals, such as requirements for permits, insurance, and possibly small business registration and taxation.

Thankfully, there are many service organizations that can help make renting a successful venture. They provide tips and information on local regulations, budgeting, property management, marketing and client screening to help ensure a smooth operation.