Shortly we will begin to hear the many myths of cottage rentals. I’m here to blow some of them away. Here are some popular ones I’ve heard so far this season:
It’s too late to get a good cottage: True or False
FALSE: There are a lot of new cottage owners who have just bought and closed on their purchase and are now listing their properties for the first time. The secret is how to find them. Unless listing agencies have a method for highlighting new listings or last minute availability, you’ll have to go through each listing and check whether the week is open or not. A tiresome process, so you may be better served contacting a few agencies and asking if they have something new coming up. We have just listed about 6 new properties and have an ever growing list of more to add in the coming weeks. Call us at 1-866-323-6698 and ask what’s new. Keep an eye on the blog here for new listings so that you can grab the first available weeks.
Rental Rates are higher through an agency than a private listing: True or False
FALSE: A reputable agency will place a competitive rate on a cottage that will be on par with private listings. You may have to pay a booking fee on top of the rental rate. What you get for that fee is the assurance that the cottage has been inspectied by agency staff, meets their minimum standards and is regularly checked and maintained by the owner or his representative.
Discounts apply for last minute availability: True or False
FALSE: Some owners may discount late availability but don’t expect this to happen. There is a high demand for weekly rentals even at the last minute and we usually have a list of people waiting for a cancellation or late listing. Many owners would prefer to use a vacant week themselves rather than offer a deal. However, it’s always worth asking.
All agencies are created equal: True or False
FALSE: There are a lot of rental agencies operating in Ontario, and thankfully, most are professionally managed and comply with provincial regulations of either the Real Estate Board (RECO) or the Travel Industry Council of Ontario (TICO). However, offering cottages for rent and accepting a commission from an owner for doing the work can seem an easy business to setup, and there are a number of unregulated agencies now listing cottages on websites. To ensure your money is protected, held in a Trust Account, and managed professionally, make sure the agency you use is RECO or TICO registered. The logos and registration numbers should be clearly displayed on their sites and in supporting literature.
Cottage photographed in this post: Sunset Bay