Hello. My name is Erik Martin and I am a reporter for a nationally syndicated real estate section published weekly in newspapers across the country (see current examples at gmnews.com/?s=%22by+erik+j.+martin%22). I’m looking to interview realtors/agents, mortgage/lending professionals, landlords, and other housing experts for the following article: HOW TO RENT OUT YOUR SECOND HOME AND PROFIT OFF OTHERS' VACATIONS. Many Americans own a 2nd/vacation home that is not often used. But they could be capitalizing on that real estate as a shrewd investment if they rent it out to available vacationers. This article would explore how to go about doing so without getting burned, including tips from experts on how to maximize profits, reduce taxes, ensure adequate insurance coverage, partner with services like Airbnb, and more.Below is a list of questions I’m seeking answers to. I can either conduct a phone or email interview (with the latter, please email me back full-sentence written responses that I can use as quotes). My deadline is noon central, Tuesday, July 26.
QUESTIONS:1. (FOR LANDLORDS/THOSE WHO RENT OUT THEIR SECOND HOMES): How long have you been renting out your 2nd home and why did you choose to do this? Who rents your 2nd home—vacationers primarily? Where is it located (city/state), what is the style/size/age of the home? How much do you charge to rent the home, and over what terms/durations? Any tips for prospective landlords who want to do the same? Your name, city/state?2. (THE NEXT QUESTIONS ARE FOR INDUSTRY EXPERTS) Why should those who own a second/vacation home consider renting out that property to others?3. What are the pros/cons of this decision? How much money can potentially be made in rent (provide one or more hypothetical scenarios here please, with details)? Or, can this be too financially risky (e.g., the money earned from renting the property may be less than the costs for things like upkeep, insurance, permits, etc.)?4. Are any special licenses/permits required (e.g., from the municipality/county) to be able to legally rent out your home? What is required/involved to ensure you are compliant with the law?5. What special homeowners insurance coverage is required for these owners/landlords to protect against renter liability and other issues? How expensive is this?6. What are the best ways to market, offer, and collect money for your second home for rental? (e.g., Airbnb, VRBO, Craigslist, newspaper/web advertising, etc.) What are the pros/cons of each of these choices?7. How can someone best determine what to charge in rent that’s fair to both parties? Should an expert be consulted? Who?8. What else should be considered carefully before choosing to rent out your second home?9. Any other thoughts, tips or suggestions on this topic?10. What is your full name, title, company, city/state location, and email address?
Keywords
realtors/agents, mortgage/lending professionals, landlords, housing experts
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