My wife and I bought a small 1 bedroom cabin about 10 minutes from Lake Sunapee. It's on a smaller lake with water access etc and we were debating renting it out. We are still up in the air on how we wish to rents - long term vs airbnb etc. I have looked at Airbnb and there does not appear to be a ton of activity in the area as it's more rural than other parts of NH. I'm interested to see what folks think about long term vs short term rentals in the area.
Also, if we do decide to rent long term...there also aren't alot of comp's to get an idea of rent per month. What do you most of you do in these rural settings?
I have owned and rented multi-families out of state in a much more populated area so that was easy to figure out monthly rental incomes etc...I'm having difficulty with this small market type of situation.
Thanks in advance!
@Ki Yell really exciting! Have you run the numbers through Airdna for a STR? That is a great site for market research and tells you how much your STR will make along with comps. As far as a LTR, I would reach out to realtors to see if they have additional insight on any comps in your area.
I live in the area, only about 15 minutes away from Lake Sunapee. I can tell you that there is a real shortage of LTR properties in this area, so that might be a good option for you. If you go STR you will probably do well in summer and fall, but I don't know how well something like that would do in winter. Seems like most people that ski at Mt Sunapee are locals or have their own place nearby.
@Claire Rosenberg , that is an excellent reference that I have not used before. I've never been involved with an airbnb in the past so thank you for pointing me in that direction with Airdna!
@Kevin Davis thank you for the inside scoop! I would prefer to go LTR as I believe my neighbors would more accepting of having a one new neighbor rather than a new neighbor every week. Do you happen to be familiar with any realtors in that area that may be able to help me set a price per month? It's a totally different market than what I am familiar with.
You should check out Eastman Premier Rentals in Grantham. They manage rental properties in this region and they’re good people to do business with.