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Q:
I'm thinking of purchasing a second home in the Pagosa Springs area.
What are my options for investment income from the home? A:
There can be many different reasons for purchasing an investment
property in the Pagosa Springs area. Southwest Colorado and Pagosa
Springs in particular has a mild and beautiful local environment
with many outdoor sports activities available, from skiing at the
local ski area, to fishing or rafting in the San Juan river, to
enjoying a soak in the hot springs. With the relatively
economical real estate market, its can be easy to find a way to
own property in this beautiful vacation resort community. One of
the most common reasons we see is to purchase a home for retirement
purposes and offer it as a vacation or long term rental to help
defray the initial costs. You can offer the home for Short Term
(Vacation Rental) or Long Term rental. Q:
What is a Short Term rental property? A:
Short Term rental properties are fully furnished and stocked units,
made available for a 3 day up to 1 month stay, mainly for the vacation
market. We use a formula for discounting weekly, 2 weekly, 3 weekly
and monthly stays. There are seasonal discounts available as well.
We supply you with all the information and inventory lists needed
to setup your home for the vacation rental market. Q:
What is a Long Term rental property? A:
Long Term rental properties fill the need for economical as well
as higher end local housing. The units can be furnished or unfurnished
and are made available typically on a 1 year lease basis. Rent may
or may not include utilities. If your home is furnished, you can
make it available to both Long and Short term markets. Q:
What is included in your property management services? A:
We offer a wide range of property management options to meet all
your needs, including basic web advertising to a fully comprehensive
package. See details at our "Property
Management Services" page. Q:
I'm thinking of buying a hot tub for my home. How will this or any
other special features affect my rental income? A: As in all industries, the tourist market has a number of different
segments. We see a pretty equal split between the value conscious
, the midrange, and the "elite" traveler. The combination
of added features and competitive pricing only makes your property
more desirable to a wider range of the the vacation market segments.
We will advise you on what optional features you should look at
and help you set a competitive rate for your home based on its features,
location and the current market conditions.