You’ve found a place in the sun, but you can’t use it all the time. If you were going to rent it out—perhaps to offset maintenance and mortgage costs—what would be the best thing you could do for the place? “Add a hot tub,” said Bill May, whose Sunspots Inns, Resorts & Rentals owns and maintains more than 100 resort and rental properties in Hawaii and the mainland. “It’s a four-season amenity and something people really like to have available even though they might not use it. It would probably pay for itself three times over in less than a year.”

The hot-tub addition has been a favorite since the couple bought a ski condominium a few years ago. May rented out his condo, which has a hot tub, and he was asked to rent an identical condo owned by his neighbor. The neighbor’s unit had the same floor plan, exposure and appointments—except for the hot tub.

“The figures showed the unit with the hot tub earned $14,000 more a year in rent than the condo without the hot tub,” May said. “When I showed the figures to the neighbor, he had a hot tub installed for about $4,000, and he then made close to $14,000 in additional rental income because of it.”

The Mays said hot-tub maintenance horror stories are overestimated and that high-quality tubs with basic features (“heat on, heat off—jets on, jets off”) work best. A maintenance contract from a reliable supplier ensures proper attention for both renters and owners.

Looking for that perfect Sarasota home for sale or condo? Realtor® Annette Smith is ready to help you buy or sell your dream property.

click here for article

search for :