Benefits of Owning a Resort Rental Home or Condo
Many people prefer to buy a resort rental home or condo as a furnished second home on Hilton Head Island. In such cases, the owners and their family members and friends can occupy the second home for personal vacations, while for the most part, rent out the place to short-term visitors.
The key benefit of purchasing a rental home or condo is that a family can have a permanent place to stay on Hilton Head Island while supplementing the cost of ownership with the rental income from the short term vacationers. Professional management companies are usually available to handle the process of renting out the property. They also offer rent management and housekeeping services.
Outstanding condo complexes on Hilton Head offer a variety of amenities for a perfect vacation. Facilities for golf, tennis, swimming, spa, and exercise and fitness are commonly available at such complexes. Restaurants and shopping are typically located nearby to ensure the comfort of residents and visitors.
A second advantage of owning a resort rental property is the tax write offs that are available to the owner. Each buyer should confirm with his CPA the tax benefits for their situation.
The third key advantage with owning a resort home or condo is that like any other prime real estate property, the unit at a superb location always has a future potential of price appreciation. Therefore, while the owner can enjoy the stay and tenancy income, the capital appreciation continues to build up over the initial investment.