Engineer · Monmouth Beach, NJ · Member since 2016 · 132 posts · 25 votes
I want to rent my condo on the shore. Does anybody have experience doing this? where should I list besides airbnb and craigslist? What are some of your experiences ?
Rental Property Investor · Cherry Hill, NJ · Member since 2017 · 119 posts · 60 votes
8y
I would love to buy a home on LBI that pays itself off with rentals. But I believe in science and have a huge fear that the entire island will be underwater within 50 years.
Investor · National · Member since 2017 · 123 posts · 101 votes
8y
Patrick, the shore has a long history with short term rentals. Platforms like Airbnb are always an option as well as Jersey Shore specific sites by local vacation rental managers if you aren’t looking to manage the bookings yourself. This market books pretty quick and also has repeat business year after year. Are you an ocean view listing? If you need any assistance feel free to reach out.
Real Estate Professional · Park Ridge, NJ · Member since 2014 · 42 posts · 6 votes
8y
We've used VRBO and Homeaway when we've looked for places to stay on the shore; but they've adjusted their business model and make both the owner and renter pay a fee. Depending on where your condo is, you may have a local website that you could use; but may not get as much exposure.
Lansdale, PA · Member since 2017 · 174 posts · 77 votes
8y
If you plan to list with a property manager with rentals, call around and get rates. They are far more than the more talked about 10% property management fee that long term rentals encounter.
Another thing to consider is if looking into condos, make sure you can rent them. There is always some condos where they only let Owner Occupied and no rentals, Though this is probably more common in Florida where its more long term.
Rental Property Investor · Cherry Hill, NJ · Member since 2017 · 119 posts · 60 votes
8y
I would love to buy a home on LBI that pays itself off with rentals. But I believe in science and have a huge fear that the entire island will be underwater within 50 years.
I would love to buy a home on LBI that pays itself off with rentals. But I believe in science and have a huge fear that the entire island will be underwater within 50 years.
Investor · NJ · Member since 2018 · 39 posts · 33 votes
7y
I have a condo in LBI that I rent out for a good chunk of the summer, but do use it personally as well, so we’re not looking to completely book up.
We started using VRBO and transitioned into VRLBI, which lets me directly communicate with the renter. VRBO has a bunch of restrictions on communication.
I believe VRLBI has started to set something similar in wildwood, but is not available for the whole jersey shore.
Investor · Manasquan, NJ · Member since 2019 · 70 posts · 38 votes
7y
@Patrick Martone
Another thing you need to be aware of that so many aren’t is that the governer passed a short term rent tax last October, but I’ve heard he’s considering rewriting it. However it is still on the books and it requests that all homeowners that are renting their homes for 90 days or less to register with the state. The law also states there is a 10% tax on the rental if you don’t use a realtor.
If you use Airbnb they are required to take care of this tax for you. If you use craigslist (which most for rent by owners do) you are required to pay it yourself.
As a realtor on the Jersey Shore who is also an owner in our rental market here. If you have any more questions I’d love to help. My commission is negotiable for rentals because I believe home owners have the right to rent their property and shouldn’t be taxed for it but Gov Murphy feels differently.
Morristown, NJ · Member since 2016 · 30 posts · 14 votes
7y
@Joe Crupi
They are 100% revamping Seaside and branding it as family friendly. I own a rental there and have had 100% occupancy both last and this summer using Airbnb and HomeAway. Happy to answer any questions!
Rental Property Investor · Member since 2019 · 103 posts · 17 votes
7y
@Jena Richards
Actually. Last comment was kind of dumb bc theyd all be west of the boardwalk lol. But wjat streets/blocks do you like? Would heavily avoid and why? Thanks!
Morristown, NJ · Member since 2016 · 30 posts · 14 votes
7y
@Joe Crupi
Thanks for the laugh!!! Feel free to shoot me a PM with property specific questions in the area. There are so many nuances block by block and property by property. I’m looking at one now for example that would work as a long term rental and not as a vacation rental. I know where most section 8 renters are located in town and also have connections to the code enforcement office if you need any specific questions answered.
For my own piece of mind, I start my search at BFE and higher to make sure my flood insurance won’t be eating too high into profits