How can rental income offset my ownership expenses? When and how does the money come in?

Most guest reserve their vacation rental property months in advance. The good property management companies begin mailing their rental books around the end of the November for the following year. Typically the rental deposits are 50% of the cost and the checks begin arriving in December. For example,in December your home is booked for a July rental with a weekly rate of $3,000. The guest pays $1,500 (50%) you then receive a check for $1,500 less the management fee. The remaining balance is due 30 days prior to the actual rental date. This income stream continues throughout the year.

Most consumers believe that all the income is received in the summer and the owner is forced to carry the home the rest of the year. Not so, the income is spread throughout most of the year.