Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | Email: ncolmer@vandykgroup.com
The Long Beach Island NJ Real Estate Market
The LBI real estate market has noticed a significant increase in buyer activity during the last half of 2011 and early 2012. With more homes selling now than in the past few years, many buyers are taking advantage of the excellent income Renting Your Long Beach Island NJ Property can provide. Renting your property on LBI NJ can help with the expenses of owning a second home while still providing the owner of the property with some fun time at the beach. There is an excellent article written on renting your vacation property and there are 9 key points to consider that are highlighted in this article:
- Get the word out.
- Be visual.
- Make your property appealing for travelers.
- Anticipate your renters’ desires.
- Price it right.
- Describe your property in minute detail.
- Write the right ads.
- Respond to questions immediately.
- Have a handle on the logistics.
Much of what the article suggests is true for both the sale and the rental market. Correct and continual advertising, proper appearance and accurate pricing will ensure that your LBI rental property will be filled up quickly!
The LBI Rental Market
There are a few things to consider if you are looking at buying a rental property on LBI:
- Rental Income is Taxable-This is a point often forgotten but the rental income can make a major impact on your personal taxes
- Location Counts!-Oceanside homes cost more to buy but are more popular rentals so they can represent a safer investment.
- Liability-You, as a landlord, have certain liabilities and responsibilities to provide a clean and safe dwelling for summer tenants. It is for this reason you see many rental homes owner under an “LLC” title.
- Renting is a Business-The rental market is subject to the ups and downs of the economy so you must realize that you may not be able to always rent your property for every week. If you are dependent upon the rental income to pay your mortgage, you may want to consider a less expensive property to help free the rental dependency.
The 2012 rental market on Long Beach Island NJ has been extremely active and the number of tenants is up dramatically in almost every agency on LBI! We have seen such an increase in demand for rentals, some real estate agencies have come together to create a rental website the features all participating companies.
Renting Your Home on LBI NJ
If you are considering the purchase of LBI real estate, contact Nathan Colmer for more information and the specifics of how Renting Your Long Beach Island NJ Property may be right (or wrong) for you. You can also visit our rental.
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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