There are two types of people- those who possess a spare space like a golf course cottage or a mountain ski lodge, that they themselves don't use too often and there are others who look out for such secondary homes to spend their vacations. To which category do you belong? Certain important points are to be kept in mind in both the cases.

There are certain reasons because of which you don't wish to let a property go off your hands even if its not being used by you. Attachment to the older generations of your family may be one such reason. So why not rent out the place? This way you will not only own your property but will also make a profit out of it.

Some points to keep in mind while renting out a vacation home:

• Don't charge a rate as high as the market standards. Initially the best way will be to use your monthly mortgage payment as a weekly rental fee.
• Advertising is very important for all landlords. Make use of all the avenues to put up attractive advertisements for renting your vacation home. You can put up one on the Internet as well. But sometimes-local classified ads and real estate agents prove to be very helpful.
• You may be subjected to the state and local laws that govern such renting. So make sure you check the regulations with the state attorney general.
• List down all the rules for the prospective tenants in the rental agreement.
• Pay proper attention to all the basic amenities.
• Provide your tenants with important numbers for police, fire and medical services. Also leave an emergency contact number in case of your absence.
• Safety of your personal belongings is your responsibility. So, make sure you lock up all your valuable stuff in either a separate storage locker or a secure basement.

• First choose the kind of place that you are interested in, country life or city life, a place near mountains or oceans etc.
• Is your vacation home at a comfortable distance from a vacation resort and if it’s very far, is there a highway leading towards it? Is the area equipped with adequate taxi facilities?
• If the resorts are too far then is there an airport nearby?
• Are there any good restaurants near by your vacation home?
• Also make sure that the restaurants are not too near to irritate you by constant food aromas. Otherwise your windows will remain locked up and the outside view will be out of your sight.
• Does the vacation home provide you with proper parking facility for your personal vehicles? If not secure underground facilities, then only an assigned parking spot? Otherwise you will have to rent somebody to take care of your car while you enjoy the new places.
• What all-basic amenities is your second home willing to offer you?
• What about a pool or a gym within or somewhere nearby the place?
• Are there enough good playgrounds for your little kids to play around?
• What kind of day care and transportation facilities are available in the area?