What Are Renters Looking For?
We often get asked by people looking to rent their vacation home, or who are looking to purchase a Maine vacation home to rent, "what are renters looking for in a vacation property?"
There are many answers to this question because there are specific areas of the vacation home rental market in Maine that appeal to different renters. However, there is one broad answer to this question that will guarantee you will rent your home over and over again.
For a lake property in Maine - this is ideally what most renters are looking for......
An ideal Maine lake rental property with a beach and a dock.
Ideally, they want a place for their kids to be able to play on the beach, a dock to swim and boat from, and great views of the lake.
For a ocean property in Maine - this is ideally what most renters are looking for......
 
An ideal Maine ocean rental property - a beautiful old Maine cape on the beach with great water access and views
Reality,
is that properties for rent like these in Maine are rare and far between. Most of the great sandy beaches north of Portland are all public owned and small. Most of the rest of the properties that meet this criteria are so spectacular that their owners never rent them. Not many lake properties have a sandy beach, and those that do, don't have a dock or a view.
So, you probably aren't going to own the "perfect" Maine rental property that everyone will want, but you can still have a property that will be attractive for renting, especially if you can meet at least one of the three criteria our renters want -
- Beach access or nearby within a short walk - doesn't have to be sandy, but not too rocky.
- Private. No one likes an owner or neighbor overlooking their vacation.
- A clean house with modern appliances and near activities that are expected in Maine
Most of the renters today that come to Maine rent properties in other parts of the country, such as Florida, Colorado, North Carolina, and Hawaii. They have expectations of what a rental property should have and how it should be equipped. The most important things to a renter is the cleanliness of the home or cottage, the comfort of the beds, and the bathrooms. Renters don't want to travel 8 hours or more to get to Maine and find a bathroom that is worse than the ones at all the travel rest stops they hit on the drive north. They browse through Pottery Barn, LL Bean, and Restoration Hardware catalogs and know that those types of decorations and older style furnishings are what is behind the dreams and expectations they have of a Maine vacation rental. Those that are okay with knotty pine baths with shower stalls that are covered with hard water stains and rust will typically not be looking to pay more than $1000 a week for a rental.
What Can I Expect For Income By Renting My Property?
Many people rent their homes in Maine for different reasons. Some rent to pay the taxes, while others rent to pay for upkeep and repairs. Another reason people rent is to (pre-)pay for their dream home. Because they can't quite yet afford their dream home, but already own it, they rent it out to help pay the mortgage. If you are looking to rent your Maine vacation home for income, you will go broke quickly unless you own it out-right. A $300,000 Maine waterfront home that sleeps six will probably rent in the $1600 a week range. The mortgage will beat that out and leave you having to pick-up a couple months as well as all the utilities and upkeep to the property. But, $1600 is the high average of a Maine vacation rental.
As you look through our website, you will see that we don't have any PERFECT rental properties, but we have a lot that have most of what vacationers are looking for. Some renters want an in-town property, while others don't mind sharing the view with a neighbor. However, if you are wondering what it takes to have the BEST, that will book out all summer long, hopefully we answered your questions here.
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