Homeowners across the country are worrying about the economy and are looking for efficient ways to cut costs on household expenses. Vacation rental property owners have to worry about two or more properties, not just one, and it is causing some to panic.

“While the prospect of ‘cutting back’ may seem overwhelming, you’ll find that a few small, simple, conscious changes can make a huge difference to your bottom line,” says Christine Karpinski, director of Owner Community for HomeAway.com and author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise your Vacation Rental Investment.

Karpinski recommends that vacation rental property owners should create a vacation home budget and once all of the expenses are written down, they can put their cost-cutting strategy into place.
Some of Karpinski’s other tips include cutting the middle man out and rent by owner, doing the updating and maintenance yourself and think about refinancing. “Refinancing may be stressful for some, but it typically well worth the effort,” says think about refinancing,

For more of tips, you can purchase a copy of Christine Karpinski’s book, How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise your Vacation Rental Investment here 

—Shari Barbanel