outh Padre Island is one
of the few coastal 1. Multiple bedrooms. The
communities in the U.S. in difference between a hotel and a
which rental revenue can still good rental condo is number of
come even close to cash-flowing a bedrooms. Families and groups who
rental property. In most areas vacation together save money and
the property values have risen enjoy a group vacation in 3 or
far above what the rental more bedroom properties. They
prospects can sustain. Most smart also enjoy multiple condos rented
investors know that the real together or a multi-family
reward is in the appreciation of building.
the property rather than the
seasonal income it may produce. 2. Beach over bay. The bayside
However, the rewards of rental has a specific market group but
can certainly offset the costs of in general, lucrative summer
owning a vacation property. Some renters want to be as close to
properties are superior the beach as possible.
performers and return an average
of 10% of the purchase price. 3. Beach houses. A classic beach
While others are geared to a more house is still a good rental.
specific renter and don’t do as People who have been visiting
well. Every buyer must choose a Padre for years still envision
property that they will enjoy the perfect island vacation in a
owning and using sometimes. But, beach house with a big balcony
there are some similar and a grill outback. They also
characteristics among the best enjoy the idea of a private
rentals. I have spent some time island oasis without the hassle
examining what works and have of secured parking and front
come up with these best bet desks.
models.
4. Amenities. Complexes like days of “good enough for rental”
Saida perform well because of all are done. Remodeled bathrooms,
their resort quality amenities. updated kitchens and units in
Families enjoy the spacious pools good repair get the repeat
and grounds. It gives all members business.
of the group an activity.
These concepts may be basic
5. Beach Décor. Most properties aspects of rental marketing but,
are now marketed online. Your its easy to lose sight of the
property has to look outstanding ultimate rental goal. Consider
in 300 pixels or less. Beach your target market group when
Décor in bright island colors looking to purchase a rental
wins every time. property or when preparing your
own rental property for success.
6. Quality. The rental market is
becoming more competitive. The
About the Author:
Wendy Hauschildt is a Licensed Realtor® with Coastal Properties GMAC Real Estate, a weekly columnist with the Island Breeze Newspaper, and director of real estate Marketing. She lives and works on South Padre Island at the tropical tip of Texas. Visit http://www.SPIproperty.com for more info.
Read more articles by:
Wendy Hauschildt
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