Southampton New York Vacation Rental Managers
Income Estimates And Tips To Run a Successful Short Term Rental in Southampton, Updated November 2022
When more people than ever are renting their homes out as a vacation rental, it is no surprise that there are advantages to doing so. For one, short-term rentals provide people with an extra source of income. They also give owners a chance to enjoy the benefits of vacationing without having to worry about the upkeep or maintenance of the property. And if you have an investment property, short-term rentals can be a way for you to generate some extra cash without having to sell your home. There are, however, some risks associated with short-term rentals as well. Because they’re not typically covered by insurance, they open owners up to liability issues if something goes wrong. And because they’re not technically considered “rentals” under federal tax laws, owners may be required to pay significant capital gains taxes when they sell the property. If you’re interested in short-term rental opportunities, it’s important to keep these risks in mind and make sure that you fully understand the process before moving forward. Once you do, you’ll be well on your way to becoming a successful short-term rental owner!
When partnering with RedAwning for your property management needs, we can make sure your Southampton rental is set up correctly and ready to generate the most amount of revenue possible per stay.
This gorgeous 5 bedroom home is the perfect getaway for your Summer in the Hamptons!
It's located in a quiet neighborhood on a large plot of land, surrounded by trees and woodland so it's peaceful and private, yet not far from all that Southampton has to offer. Within a short drive you can reach the many beaches with plenty of activities to keep you busy - sailing, sport fishing, kayaking or even just lounging on the pristine white sand. The home is also not far from Sag Harbor, as... Read More
This Southampton vacation home is presented on every travel website, where travelers are looking to book accommodations (Airbnb, VRBO, Expedia, Google Travel, and hundreds more). And, with RedAwning's dynamic pricing, daily rates are adjusted based on seasonality and demand in Southampton.
There are a lot of reasons why you might want to consider renting out your Southampton home as a short-term rental. Perhaps you need the extra income, or perhaps you just prefer having more time off than you do at work. Whatever the reason, there are a few things that you should keep in mind when considering whether or not to rent out your Southampton home as a short-term rental. First and foremost, be sure to check with the local authorities before renting out your Southampton home as a short-term rental. Many communities have rules about how far people can stay from their homes if they’re not actually living there. If you’re not sure about the rules in your community, talk to the local authorities or contact Airbnb and see if they have any recommendations for how to address this issue.
There are many reasons why you may be considering renting out your Southampton home as a short-term vacation rental. Perhaps you’re planning a family vacation, or a business trip. Or maybe it’s just time to take a well-deserved vacation. Whatever the reason, there are several things you should keep in mind when you decide to rent out your Southampton home as a short-term rental. First, it can be very taxing on your available time if you’re not used to it. If you have kids, this is even more of an issue since they will want lots of attention while they are away. So plan ahead and make sure that you have plenty of time to spend with your family before they travel away. Second, try to limit how many people stay at your Southampton home during peak times. This will help keep your property in good shape so that it can last for years to come. And finally, think about how much value you get from renting out your Southampton home as a short-term vacation rental vs paying for housing and feeding an entire family for the same amount of time. If the answer is “a lot more” then renting out your Southampton house as a short-term vacation rental may be worth it for you!
RedAwning takes the guess-work out of Southampton property management, and we work with you to ensure your Southampton short-term rental is set up perfectly to attract guests and maximize your rental revenue, from day-one.
Note: These averages are based on a 4 bedroom home in Southampton. If you'd like to find out how much revenue your home could make by providing the number of bedrooms and specifics about your vacation rental, please try our free vacation rental calculator and/or speak with one of our vacation rental experts about your vacation home, condo or unique vacation rental experience.
If you are a speculative home buyer or have another home in New York, check out our other New York Vacation Rental Management reports in Albany, Beacon, Buffalo, Cooperstown, Hyde Park, Jamestown, Lake George, New York, Niagara Falls, Poughkeepsie, Saratoga Springs, Utica, Chautauqua, Ellicottville, Manhattan, Far Rockaway, Mayville, Queens, Great Valley, Ashville, Dewittville, Hammond, Little Valley, Napanoch, Bemus Point, Ellery, Maple Springs, Brooklyn, Tampa, and Jersey City, New York or view all of our vacation rental market reports