Are you thinking about buying a second home in The Ledges of St George community to use as a vacation rental home? There are several things to consider.
The first thing you should keep in mind is that vacation rental income often only supplements the carrying cost of a property - it doesn’t always translate to a profit once other expenses are paid.
For example, if your Ledges vacation rental is rented 30% of the time (optimistic), and you are getting $250/night, your rental would be bringing in about $3,750/month. Sounds good, huh? But not so fast. Property management fees can be as high as 50% of the gross rental income for nightly rentals (i.e. the Ledges of St George). From this example, you would net $1,875 after management fees.