Cottage rentals have always been an ideal exchange for cottage owners and vacationers, creating passive income for owners, and a unique cottage experience for vacationers. But creating a successful rental experience in the current market has changed.
Jay Katzeff, President of Cottage Vacations, says there is a science behind crafting the best rental experience. “The market has become competitive, making the small details more important than ever before.”
Cottage Vacations has been connecting cottage renters and owners since 1999 – long before the dawn of online travel agencies like AirBnB and Vrbo. By working with cottage owners, they build a five-star rental experience that works for owners and renters.
Consultation is key
Like a matchmaker, Jay says a large part of his company’s success has been found in preparing owners for what it takes to be successful in the marketplace.
“Before you rent your cottage, it’s important to set your expectations,” he says. This can be difficult to do on your own, which is why partnering with a rental property specialist is crucial.
Jay and his team meet with owners in person to walk their property, understand their goals and expectations, and guide them through any changes that will need to be made to get the property “rent-ready.”
They’ll also explain how to price a rental and what to expect as a return on investment. To determine the ideal rate, Jay says you need to ask yourself how often you’d like to rent your cottage, and how much you’re willing to invest in preparing it for renters.
Creating an ideal rental
One big misconception is that the rate or success of your rental is determined by its size. At Cottage Vacations, there’s no ideal. ”We work with all owners regardless of lake or property size, as long as it’s a positive and safe cottage experience for our renters.”
The key to creating a good experience is in the coaching and preparation.
During each consultation, Jay advises cottagers on the little (or sometimes big) changes they need to make for the sake of their visitors. With hundreds of rentals across cottage country, Cottage Vacations is here to set you up for success.
During the consultation, Jay and his team also look for ways to set each cottage apart and create unique income opportunities. “With a little creativity, we can uncover the unique opportunities at every property and market them to our renters.”
Some property locations make them ideal for off-season rentals. Others have features that are great for multi-family gatherings or quiet retreats.
“By understanding your goals, we can cater to your unique needs, to create your ideal rental experience.”
TEXT SHELANNE AUGUSTINE
PHOTOS SCOTT TURNBULL