Renting your Red River New Mexico Vacation Home

Renting your Red River Vacation Home   Owning a family vacation home in Red River can be a wonderful opportunity.  Not only can you spend quality family time in a wonderful and absolutely beautiful community, but you can also, over time, realize home appreciation and investment income.  Renting your Red River vacation home can be a great way to produce an income from your Red River property.      The town of Red River does not allow nightly rentals in several neighborhoods so it is important to find out if the property you own or are considering buying is in an area zoned for nightly rentals.  These Red River zoning laws are highly beneficial to owners of homes in nightly rental areas. A lower supply of vacation rentals available allows for higher rental incomes and occupancy rates on your property.  This is one reason Red River is more appealing than Angel Fire and other resort communities for investment income on vacation homes.  You can contact me for more information on area's zoned for nightly rentals.   Many tourists have four wheelers and snowmobiles and love to stay in the Upper Valley for a true "mountain getaway" vacation.  Properties outside the Red River town limits can all be used for vacation rentals.  They tend to have rental incomes as high, and in some cases higher, than many homes in town.  However, access issues can be a problem for some of these homes in the winter months.    Another thing to consider when deciding to rent your Red River home is... most rental income is produced during the time when you probably want to enjoy the home yourself.  Rates and occupancies are the highest during Memorial Weekend, Summer, Christmas and Spring Break.  If your vacation schedule allows, you will see a higher income if you visit during the "non peak" times.     In the past Red River had "completely dead" off seasons.  Everything was closed! Mid-August to Thanksgiving and the end of March through Memorial Day.  Over the past five years I have seen the off seasons get shorter and shorter.  Thanks to Red River Economic Development, The Red River Chamber of Commerce and several Red River business owners we have seen an increase in visitors during the fall and spring.  Red River now has great events through September and October including Aspencade, Octoberfest and Days of 1895.  In addition, businesses are beginning to remain open during the off seasons thus increasing tourism and making Red River a fabulous and peaceful place to visit and enjoy, even in the spring and fall.     It is possible for you to rent your home yourself but I would not recommend this to anyone unless they are close.  Most owners use one of the property management companies in town.  They all charge 40% of the income received and differ slightly in their pricing and services.  The management fee pays for their office, website, advertising, maids etc...  You don't have to do anything but cash the checks.   Contact me for more information on local property management companies.     You can visit our interactive website to search all Red River properties listed in the mls, get notified of all new listings and price changes and get local market information.  Resort Realty is able to provide the rental history on most property listed in Red River.  If you want to know the potential income of a property not previously rented we can provide you with the rental incomes of other similar properties.  Contact me for rental histories or potential income.     With low interest rates and 1031 tax advantages it is a great time to invest in a Red River vacation home.  Please contact me if you are interested in making your dream of owning a Red River vacation home a reality.   Diane Maloney Co-Owner/Associate Broker Resort Realty 575-754-2927  Office 575-770-0918  Mobile www.BuyRedRiver.com