Should you use your Door County property for rental purposes in Door County, Wisconsin? We have seen the pros and the cons from both sides in our discussion with our owners, buyers and sellers over the past decade.
With nearly 300 miles of shoreline, ten lighthouses, five state parks and more than a dozen County parks (not to mention town and Village parks), this area was been named one of the top ten vacation destinations by Money Magazine, among others, and continues to be a popular write-up for numerous written periodicals and blogs throughout the world. Right now, incredible interest rates combined with a lot of inventory have combined to create the most affordable shore front opportunities in years.
January, February and March are the best times to purchase for consumers looking to set up rental income for the following season. Our "high season" for Door County tourism is the second week of May through the last week of October, but Fish Creek, Egg Harbor, and Sister Bay see year 'round festivities and business opportunities, including shopping and dining. You'll have some decisions to make. Will you rent by yourself using opportunities like airbnb or VRBO? Will you use a vacation rental management company?
Please don't hesitate to explore our inventory of waterfront homes and waterfront condominiums for sale in Door County, as well as inland properties, at door-county-properties.com Also, hotel condominiums remain a popular option for rental in Door County; however, lenders will rarely lend on hotel condominiums. While our office does NOT manage or suggest specific rental opportunities unless we know they are a good investment, we DO assist in helping you buy a home that can be tailored for your specific needs if you want to rent out your property. Remember, Door County does require permits and does collect a County-wide room tax on each rental room. If you are looking for a specific opportunity, from an inland condominium to a seaside home, I can help you find the Door County property that best suits your specific needs, whether you intend to do rental or not. Make sure to talk you your attorney and accountant; most find that setting up a simple, separate business entity is a prudent thing to do for insurance and liability purposes when renting Door County properties to others.
Waterfront Homes and Condominiums in
Door County Make Popular Vacation Destinations
While some people can't stand the idea of strangers sleeping in their beds (with Door County as a popular year-round vacation destination, you can always choose to rent to friends and relatives), others truly enjoy being rental managers, offsetting the costs of their investments, and I have had several clients purchase multiple properties that they have put into rental (either by themsleves or with rental management) over the years. Should you use your Door County property for rental in Door County, Wisconsin? Contact me today to discuss homes and/or waterfront condominiums for sale that may be beneficial for you if you intend to go into the rental business (and be sure to talk to your accountant and attorney, too). Renting isn't for everyone. Be sure to get educated in the process prior to beginning the journey, but it may ultimately turn out to be very rewarding.
We have helped customers and clients purchase everything
from hotel condominiums to registered lodging businesses.