Presented by Christine Brennan on Peak Radio “Talk of the Town.”
Are you considering renting your home or condo for ski season or summer or are you looking for a seasonal rental? Then this Q & A is for you. Christine Brennan of Engel & Völkers Collingwood-Muskoka goes in depth on the Collingwood – Blue Mountain seasonal rental market.
Seasonal Rental Market – The search starts now! Q & A
Are there things to consider if I want to list my home for rent seasonally?
- If you head south for the winter, renting to a ski family can be a great way to cover a portion of your home’s carrying costs.
- Specialized insurance coverage is available.
A seasonal lease must be different than an annual lease. Where should someone start?
- As a brokerage, we take care of everything that goes into the lease agreement and clearly spell out what the tenant is responsible for vs. the landlord.
What do I do with all of my personal belongings?
- Create a secured owners area for valuables and personal belongings such as clothes.
- Be sure to leave closet, drawers and cupboards open for renters and enough room to store their gear.
When is the best time to look for a seasonal rental?
- For winter season start the search in August through September.
- For summer season start the search in March through April.
What do you need to consider when selecting a rental?
- Consider lifestyle and the amount of space you need.
- Do you want to be in a condo community with amenities such as a recreation centre with pool, hot tub and gym?
- Would prefer a single family home or chalet at the base of the slopes and access to snowshoe and walking trails for a winter rental?
- Would prefer a single family home or cottage on the water with beach access for a summer rental?
Is it more difficult to find a rental if you have a dog?
- Yes, it can be. Be prepared for an extra damage deposit and deep clean or carpet cleaning at the end of the term.
- As a landlord, being pet friendly can be an advantage.
How much are seasonal rentals?
- Seasonal rates vary depending on location, number of bedrooms and age of the community.
- Average cost for a 3 bedroom unit is $9000-$15,000 plus utilities for a full season and a 4-5 bedroom around the base of the private clubs can be more expensive – average $15,000 to $25,000
Are seasonal rentals paid on monthly basis?
- The big difference between and annual rental and a seasonal rental is that you should expect to pre-pay up front for the full rental term.
- Terms are normally a deposit on signing the lease up to as much as 50% accompanied by post-dated cheques for the balance of the rent and a damage deposit.
What’s the benefit of renting vs buying?
- Great opportunity to come up and experience the area.
- Allows you to determine which area you want to be in long term before you make a purchase.
- It can also help you determine what size you really need and how much you want to spend.
Don’t miss out on this season’s rental opportunities! If you have a home to rent or are looking for a place this season call Christine Brennan today at 444-9527!