Many people dream about buying a cabin in Big Bear and using it as a vacation rental property.  They can rent out their second home in Big Bear (which is vacant most of the time anyways) and still enjoy it themselves when they want.  Who wouldn't want someone to help pay their mortgage with rental income?  There are definitely some things to keep in mind when deciding to buy a Big Bear cabin and put it on a vacation rental program.

First and foremost you want to make sure you are up to date on any Big Bear Lake Rules and Regulations regarding Private Home Rentals. 

Secondly, you need to make sure your Big Bear property is in the right area of Big Bear Valley to make a viable rental property. You will want to stay in the Big Bear Lake, Moonridge, or Fox Farm areas.  Most people visit Big Bear for winter sports or to use the lake (Big Bear Lake, not Baldwin or Erwin Lake).  If you drift too far from the Ski Resorts or Big Bear Lake, you will be limiting the number of people who will want to rent your cabin.    

Also make sure to pick a cabin that someone would want to spend their hard earned money to rent.  Make sure it is "renter friendly." This includes, but is not limited to, large bedrooms, more than one bathroom, a kitchen that is large enough to cook a holiday meal, a nice open living room, plenty of off street parking and hopefully a nice yard.

There are other improvements you can make to the house to make it a better vacation rental too. Decorate the place in a mountain decor, antler light fixtures are real popular. Add a spa if there isn't one already, people love to sit in the spa after a day at the ski resort or on the lake.  A game room with a pool table or at least some kind of activity (shuffleboard, table tennis, foosball, or darts).  If you don't have an extra room, sometimes a garage can suit this purpose.  A decent entertainment system, and nice comfortable furniture.  Don't just leave the 70's couch that came w/ the place and call it good.  In other words, anything you would expect if you were renting your place.

Most successful Big Bear Rentals also have repeat customers.  You want them to request your cabin when they come up.  Like any good business, good product equals good results.  Since you will most likely be using a property management company for your investment, make sure you check into as many of them as you can. 

Many people just worry about how much they will get per night and how many nights per year the cabin will be rented.  There are many other services that the property management companies provide.  Remember they are the ones your customers will be dealing with, pick the company that you believe will best represent your investment.  Consider the companies customer service, appearance of office, marketing, cleaning procedures, and cost of their service. 

Just remember the company that takes the least percent of the rent might not be the best choice.  Make sure to ask questions about fees for snow removal and other  "hidden costs".

Lastly, don't expect to have your Big Bear vacation cabin pay your whole Mortgage, taxes and utilities.  Hopefully you are just trying to supplement your mortgage by renting it out when you are not using it. 

Remember there is a lot of competition out there so don't get into a situation were you are relying on the rental to pay for your second home.  you need to look at your Big Bear Vacation Rental as an investment, and if you aren't willing to invest your own money its not going to work.  Everyone knows nothing in life is free. 

Originally posted on the Big Bear REO Blog.