Perhaps you have a second home that you haven’t gotten to use as often as you planned, or maybe you’ve found that you could use a little extra money to cover some expenses. No matter what your motivation may be, renting your second home to vacationers is a great way to share your home with others and make a little bit of extra income.

Share Your Home

When you first bought your vacation home, you probably had visions of spending every weekend there or hosting family reunions every summer. If you’ve been able to stick with this plan, you are among the lucky few. Many vacation homeowners simply find that they are not able to spend quite as much time using their home as they originally planned. And, rather than having your home sitting empty, why not share a place you love with others that will likely love it too?

"I love sharing our home and introducing people to West Michigan. I love making vacations special for others." -Doris, Grand Haven, MI (HomeAway #178510 & 322166)

Meet Interesting People

Renting your vacation home to short-term guests is a great way to meet interesting people that can build their own memories at your vacation home. Plus, travelers are different than your typical long-term renters; since many are homeowners themselves, they will likely treat your home better than someone who has never owned their own home.

"My wife and I have met gads of real neat people from all over the USA and the world. Many have become friends that we have into dinner and or drinks. They send their relatives and friends who are just as neat." -Frank and Sandy, Venice Beach, CA (HomeAway #157275, VRBO #59196)

Fix Up Your Home

If you’ve felt that fixing up your vacation home just seems frivolous given the little time you’re able to spend there, here’s your excuse! You might be able to boost the value of your home while preparing it for guests, and you’ll be able to enjoy those great updates yourself too. Plus, many of the expenses associated with your vacation rental could translate into tax deductions. An added bonus: if you have guests staying at your home throughout the year and a housekeeper visiting regularly, you may be more likely to discover potential maintenance issues before they turn into serious and costly problems.

“I enjoy personally maintaining my home and having it in absolute pristine condition on the guest’s arrival. It makes all my hard work go away when they walk in front foyer and say, "WOW". I love to over deliver and see my guests overwhelmed with the property.” Jan, Las Vegas, NV (HomeAway #125345)

Cover Expenses

Perhaps the most obvious benefit of renting your second home is the extra income it can provide. According to a survey conducted by HomeAway.com, the average vacation rental brings in more than $33,000 a year in rental revenue. Whether you’re looking to cover a portion of your expenses like insurance, maintenance & HOA fees or break even on your mortgage, renting your home to travelers is a great way to make additional money on your investment.

"We enjoy the fact that we can make our yearly mortgage from renting out the house, and we get to vacation there for free!" - Karen, Poconos, PA & Ventnor, NJ (HomeAway #147286 & 223758, VRBO #45286 & 62416, VacationRentals.com #47713 &3893 )

Earn Income

It’s perfectly fine to set goals for covering your expenses, but if you’d like to earn more, set your sights a bit higher. Many vacation rental owners turn a profit each year, and a fairly significant one at that, especially if you purchased your vacation home a long time ago or it’s already paid off. Plus, one of the perks of short-term rentals is that you can charge more during peak weeks, thus resulting in more income than if you were to rent to one guest or family all year long.

“In comparison to the full-time rentals I had for 10 yrs, the vacation rental industry affords higher quality guests and brings in more money in just 2 days than 1 of my full-time rentals did in a month.” – Tammy, Asheville, NC (HomeAway #305828, VRBO #20261)

Invest in Your Retirement

Many of the owners that list their properties on HomeAway, VRBO or VacationRentals.com hope to retire in their vacation homes one day. If you know that retirement is a few years down the road or you’re hoping to bide some time, it just makes sense to earn some income from your property when you’re not using it yourself.

“We knew that in order for us to keep the vacation home until we are ready to use it in retirement, we would have to rent it out. It was a bit scary at first, but it has worked out great!” – Robert and Linda, Fernandina Beach, FL (HomeAway #183575, VRBO #70011, VacationRentals.com #21934)

Use Your Home Yourself

And the best part: you can still use your home yourself. Renting your vacation home doesn’t mean you have to sacrifice the time you may be able to spend there. You can reserve dates for your own family just like you would with any other guest, but the difference is you get first choice.

“I think vacation renting is perfect as you can enjoy the home yourself!” – Lesli, Singer Island, FL (VRBO #195869, VacationRentals.com #17394 )

Why did you decide to turn your second home into a vacation rental?

How to Start a Vacation Rental Business Questions to ask yourself when making the decision to start renting your vacation home and running a vacation rental business.   13 Keys to Successfully Renting Your Cottage, Condo, or Cabin A few guidelines for making sure that your vacation rental business runs smoothly and effectively.   Running a Vacation Rental Business FAQs Commonly asked questions about renting by owner including screening, insurance, and more.   Second Homes vs. Investment Properties How to tell if you're buying a "second home" or an "investment property."

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