Vacation Property Walkthrough: Maintaining A Vacation Home
AAA
  1. Vacation Property Walkthrough: Introduction
  2. Vacation Property Walkthrough: Reasons To Purchase Vacation Property
  3. Vacation Property Walkthrough: Considerations When Choosing A Vacation Property
  4. Vacation Property Walkthrough: Timeshares And Fractional Ownership
  5. Vacation Property Walkthrough: Financing A Vacation Property
  6. Vacation Property Walkthrough: International Vacation Properties
  7. Vacation Property Walkthrough: Maintaining A Vacation Home
  8. Vacation Property Walkthrough: Renting Out A Vacation Home
  9. Vacation Property Walkthrough: Selling A Vacation Property
  10. Vacation Property Walkthrough: Conclusion

Vacation Property Walkthrough: Maintaining A Vacation Home

Since the owner will be absent some (or most) of the time, it is important to make plans to take care of the property. If the vacation property is a condominium unit, the maintenance responsibilities for the building, grounds and common areas will already be taken care of by the condominium association. For most types of properties, however, the owner will need to hire someone (or a company) to keep an eye on the interior and exterior of the property and manage the everyday maintenance responsibilities (such as lawn and pool care) as well as unexpected repairs and emergencies (such as a flooded unit or a leaky roof).

A property management firm can provide home watch services that may include:

  • Weekly visits to the home to check the condition of the interior and exterior
  • Running the water and flushing toilets, checking appliances, bringing in mail/newspapers, watering plants
  • Replacing air filters, light bulbs, etc.
  • Looking for and identifying any problems
  • Arranging for and oversight of repair and maintenance services
  • Housecleaning services before and after owner visits
  • Home set up (arrival services) for owner visits, including adjusting the thermostat, turning on the water, turning on the hot water heater, wood in the fireplace, snow removal, etc.
  • Departure services including making sure all doors and windows are locked, adjusting the thermostat, garbage/recycling removal, winterizing, etc.
  • Concierge services, such as dining reservations or concert tickets
  • Acting as local point of contact for alarm systems
Although property management services add to the home's monthly expenses, the costs can be worth it in the long run since the property will be well-cared for, and any problems can be quickly identified and corrected. Water damage that is caught right away, for example, may require small repairs; left for a while, however, that small leak could mean replacing a roof, ceilings, furnishings, floors, as well as costly mold remediation. Vacation Property Walkthrough: Renting Out A Vacation Home

  1. Vacation Property Walkthrough: Introduction
  2. Vacation Property Walkthrough: Reasons To Purchase Vacation Property
  3. Vacation Property Walkthrough: Considerations When Choosing A Vacation Property
  4. Vacation Property Walkthrough: Timeshares And Fractional Ownership
  5. Vacation Property Walkthrough: Financing A Vacation Property
  6. Vacation Property Walkthrough: International Vacation Properties
  7. Vacation Property Walkthrough: Maintaining A Vacation Home
  8. Vacation Property Walkthrough: Renting Out A Vacation Home
  9. Vacation Property Walkthrough: Selling A Vacation Property
  10. Vacation Property Walkthrough: Conclusion
RELATED TERMS
  1. SENTRI

    This U.S. program grants pre-approved travelers access to a faster ...
  2. Boat Owners' Insurance

    An insurance policy that provides coverage for individuals who ...
  3. All-In Coverage

    A type of insurance coverage that applies to communally used ...
  4. Single Entity Coverage

    A type of insurance policy that covers all real property in a ...
  5. Bare Walls Coverage

    A type of insurance coverage that applies to communally used ...
  6. Commercial Real Estate Loan

    definition of a commercial real estate loan
  1. What is the best app to track my residual income?

    Learn about apps that help you manage and track your residual income whether you have complex portfolios with multiple investments ...
  2. What is the most effective way to write a successful budget?

    Learn the best way to create a successful budget. Learn how to cut unneeded expenses without impacting what you need for ...
  3. What is the use of having revolving credit if your credit score suffers for using ...

    Is revolving credit right for you? The benefits greatly outweigh the risk when used responsibly, but it also has the ability ...
  4. How does the Federal Reserve's set discount rate affect my personal finances?

    Discover how the Federal Reserve implements its chosen monetary policy through its discount rates, and how these actions ...

You May Also Like

Related Tutorials
  1. Budgeting

    The Complete Guide To Planning A Yearly Budget

  2. Budgeting

    The Complete Guide To Retirement Planning For 40-Somethings

  3. Taxes

    The Complete Guide To Retirement Planning For 30-Somethings

  4. Home & Auto

    Homebuyers' Walkthrough

  5. Home & Auto

    The Complete Guide To Real Estate Renting

Trading Center