Turning a Beach Home into a Summer Rental
By Gina Dostler
Jarrod Frey, of Abrams Coastal Properties, helps homeowners rent their Balboa Island and the Newport area homes and keep tenants from all over the world happy and ready to return again and again. He manages more than 50 rentals gives compelling reasons and assurances why renting out a vacation home can be profitable and easy to do.
Q: Why consider renting out your home?
A: Ultimately it depends on location. For vacation rentals, here in Balboa Island there are several generations of people coming down and renting a summer home, same home year after year. It all starts from mid-June to the end of August and homeowners can generate an excellent income stream. Rent for one week in the summer is equivocal to one month in the off-season. So for example if a house normally would rent for $4,000 a month in the off-season, during the summer months, that same homeowner can get $4,000 a week, certainly enough to pay for their own summer vacation abroad. We do have several yearly rentals in Newport Beach, but most of our Balboa rentals are short term during the summer season.
Q: What about other times of the year?
A: There are snowbirds that come down to sunny Balboa to escape the cold. Several come back year after year to the same houses during the same time. These people are now familiar with the homes and have gotten to know the owners, creating a nice bond and trust amongst everyone. Also many homeowners going through remodels in their home need something to rent for a couple of months, so availability for renting can be a year-round thing.
Q: What are the responsibilities that are involved with renting a home?
A: Our company takes much of the responsibilities, leaving the owners to enjoy their time away or go about their daily lives with confidence all is handled correctly. Typically in the summertime, properties are changing hands every single week, which require a lot of coordination. There are check ins, check outs and cleanup everyday. We have a dedicated staff – an office manager, rental manager and operations manager – that works as a rental team to provide service to both the homeowner and the vacationer, a very streamlined process that leaves everyone happy. This is very important if you are considering your home for rent. Many other property management companies have a single agent that coordinates things, which can become overwhelming for just one person.
Q: Does the homeowner have to worry about maintenance?
A: Actually we take care of it all. Typically here on the island the plumbing is not great, so if a toilet backs up, a garbage disposal clogs or there’s a leak our plumber is on the spot immediately to fix the problem. Water intrusion on the island is a major concern, so our plumber is highly prized and well paid to be there any time day or night. In fact all our vendors are on call ready any time to keep things well maintained. We’ll refill the propane or trouble shoot the cable box. The owner does not have to worry about a thing. This is a very important aspect because small problems, if not corrected immediately, can escalate to major issues for the homeowner.
Q: Are there any requirements to qualify as a rental?
A: In regards for the type of home, you can have a little old beach cottage all the way up to a custom remodel and everything in-between. Each of these houses needs to have the basics such as a coffee maker, plates, flatware, etc., as well as basic cable and wifi. There is a checklist we provide for our homeowners. Basically the tenants just have to bring their sheets, towels, paper products and trash bags. Patio tables, chairs, barbeques are all in the homes ready for their use. A business license is also required for the short term lodging tax, a simple process for the homeowner to complete.
Q: What about the personal affects of the homeowners?
A: A locked owner’s closet is maintained for personal stuff. It’s encouraged not to put extremely breakable things out or leave valuable stuff around, yet the places are kept fully furnished and nicely decorated. Sometimes stuff is placed in the garage with an addendum to the agreement that it is not for guest usage. If anything does become damaged it is replaced immediately.
CONTACT INFORMATION
Jarrod Frey
Rental Property Manager
Abrams Coastal Properties
315 Marine Avenue
Balboa Island, CA 92662
949-675-4822
Photos:
Examples of Balboa Island rentals.
