December 6, 2019

SECOND-HOME AND VACATION RENTALS REMAIN STRONG

 

Despite the economic recession, owners of second homes and vacation homes are getting strong returns by renting out their properties according to a report by HomeAway, an online vacation marketplace.  Nearly two-thirds of second-homeowners (63%) are able to cover at least half of their mortgage by renting out the home to travelers and 38% generate enough rental income to cover 75-100% of the property’s mortgage.  Vacation rental bookings are about the same or higher than last summer, averaging 20 weeks per year, the report finds. 

 

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