TIPS FOR SEARCHING FOR A DOOR COUNTY
RENTAL INVESTMENT PROPERTY
When the stock market gets uncertain, we usually see an upsurge in interest in commercial properties, and especially vacation rental investment properties in Door County.
Door County rental investments allow you to use your property when you want to in most cases (some hotel condominiums have stringent "owner stay" rules, so follow your due diligence); this allows you to own a property in Door County but to also enjoy income to offset your investment.
Every town and village, and the City of Sturgeon Bay, have different short term rental requirements for permitting and compliance. The best place to find out information on any specific municipality is the Door County Tourism Zone Commission, which is also in charge of collecting room taxes from each municipality. You can learn more at their website and by using their guides, which will help with everything from getting established (licensed and permitted) to learning about collecting room taxes. You can search by municipality on that site, and the staff is also very helpful in answering specific questions. Remember--don't try renting without the proper permits and licenses. Some municipalities also charge a Premier Resort Tax (learn more at the DCTZC site)
The burden of some of these regulations is why some investors gravitate to hotel condominiums for rental investment---an established resort with staff and a front desk will take care of all rental and permitting, but there are fees involved with same. In some ways, this can be more stress-free, as you are not doing your own booking or worrying about cleaning. However, management companies are also available should you want to be hands-off for a "stand alone" property. Some of these companies are strict about the properties they take on (a certain number of bedrooms/baths, certain locations (downtown, waterfront, water view, etc.), so do your due diligence regarding same. These properties are generally booked via Airbnb or VRBO, or directly through the rental management company.
The Yacht Club at Sister Bay is a hotel condominium
Successful vacation rental properties generally have a few things in common: great location and good condition. When renting a home, a vacationer wants all of the amenities of home, so look for one that is well-stocked and has good reviews. Some rental management companies ask you to bring your own towels, so be sure to check on what amenities are included. Also research your proximity to the areas you want to visit when you are in Door County. Hotel condominium units are popular and generally don't stay on market for long, especially from May-early November, holidays and times like "spring breaks", because of onsite or nearby restaurants and indoor and in-ground pools.
If you are renting a home, remember that if you are in a residential neighborhood, you will have year-round residents and should be respectful of same. Your host will be sure to provide the rules and regulations established for each specific property.
Dwell regularly has prime rental investment properties on the market at any given time. As of the time of this writing, we have several properties that are prime opportunities for rental investment:
1. 12462 Timberline Road, Ellison Bay, Wisconsin 54210. This is a well-established, single family home in the country that has served as a short-term rental for some time that offers privacy, serenity, and several amenities, including acreage to hike and picnic on, as well as a hot tub and fireplace. It offers 4 bedrooms, 2 baths and is minutes from Newport State Park and Europe Bay Beach. Learn more about our listing at 12462 Timberline Road here.
2. 10722 N. Bay Shore Drive Unit 104, Sister Bay, Wisconsin 54234. Marina View Condominium is one of the most popular rental destinations in Sister Bay, and an easy choice as a rental investment property because of its location and stellar water views. This 3 bedroom, 2 bath condominium with a marina view and short walk (half a block) to the downtown Sister Bay beach also offers an easy walk to over a dozen downtown dining establishments and it's a quick walk to several more in "uptown" Sister Bay. You can also walk to shopping, concerts, the public library and much more. Boat parking is across a side street, and the Sister Bay public boat launch is across the street. Sunsets are a must here on the outdoor patio with a cool drink, and on most nights you'll hear distant music from several outdoor music venues. It's a rare opportunity to enjoy the best of Sister Bay, contact MaryKay Shumway for more details on 10722 N. Bay Shore Drive, Unit 104, Sister Bay WI 54234 today.
Truly a "Marina View" Condominium Rental Investment:
Offered Furnished and Appointed
3. 107 N. 1st Avenue Unit 213/215 Stone Harbor Resort, Sturgeon Bay, WI 54235. This 2 bedroom, 3 bath unit at Sturgeon Bay's popular Stone Harbor Resort is a hotel condominium, and offers on-site dining and libations, plus a prime location on the water in downtown Sister Bay, surrounded by dining, shopping and many activities, including The Miller Art Museum, the Door County Maritime Museum and so much more, including theater and music. The Saturday Morning Farmer's Market is a must, as are the prime amenities, including walking the nearby Steel Bridge and the on-site, indoor pool. Learn more about our listing at Stone Harbor in Sturgeon Bay here.
Other popular units we often represent include Shore View Condominiums, Luna View Condominiums, Yacht Club at Sister Bay, The Landmark Resort, Eagle Harbor Inn and many other hotel condominium and/or residential opportunities that would make optimal short-term rental opportunities to discuss.
Are you searching for tips to purchase a Door County rental investment property, or are you ready to tour? Contact me today to learn more about these opportunities and others in beautiful Door County, Wisconsin. Remember, Dwell Door County is a real estate brokerage, not a rental management company---if you want information on STAYING at these properties, check out the hotel condominium websites or search AirBnB or VRBO today.
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