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How to Accept Payment for Vacation Rental Property?

Discussion in 'Business & Tax Advice' started by Jonny Quick, Aug 8, 2011.

  1. Jonny Quick

    Jonny Quick BANNED BANNED

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    We're getting ready to start renting out a cabin during the ski season just outside Ruidoso, N.M. I've never done anything like this before. Several people have suggested hiring a Management Company, but I don't know how much they would charge. A percentage?

    If it's too high, we might try to manage it ourselves. If we do self-manage, what's a good way to accept payment? I'd like to avoid using PayPal if possible. Any help appreciated & thanks in advance.
     
  2. jonnyquest

    jonnyquest Regular Member

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    Think they usually take 10% ... as far as payment take checks and hold
    until the monies clear.

    The nice thing about the management company is they take care of all the small stuff ... stopped up toilets, lost keys, broken stuff etc ... I would do it if the rental was over $1000 per week

    JQ

    check out this thread it might help- http://www.blackhatworld.com/blackhat-seo/business-tax-advice/297374-best-way-accept-credit-cards-online.html
     
  3. Jonny Quick

    Jonny Quick BANNED BANNED

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    Thanks. I've heard it was 20%. I really really want to stay away from PayPal. $1K a week is about the limit I think. I'm hoping for half that, at least to start.