You now have a wonderful Toronto cottage to get-away to every weekend. But what happens to your natural paradise the rest of the time? During the downtime, you can monetize your cottage and earn extra money. It can help pay off your mortgage sooner, build up your savings or help with the planning of a vacation.
With the rise of Airbnb, making your Toronto cottage a part-time rental has never been easier. Creating the right listing is key to getting people interested in your place. Along with the number of rooms and amenities contained in the cottage, the description should encompass:
Key highlights of the neighbourhood
Any accessories that it contains
Nearby attractions
It is also a good thing to offer extra incentives that will add to the experience of renting your cottage. For Instance, if you live on a lake, have a canoe or paddle boat handy or some inflatables and life jackets. Or you can include a firepit and adirondack chairs for cookouts. Bicycles are also always appreciated and if you live near ski hills, then having skis available is a great idea.
Just remember that if you do decide to monetize your rental, you will have to look into any tax implications that it will have. After enjoying the fruits of your rental – facing the tax man at the end of the year is the last thing you need.
With the rise of Airbnb, making your Toronto cottage a part-time rental has never been easier. Creating the right listing is key to getting people interested in your place. Along with the number of rooms and amenities contained in the cottage, the description should encompass:
Key highlights of the neighbourhood
Any accessories that it contains
Nearby attractions
It is also a good thing to offer extra incentives that will add to the experience of renting your cottage. For Instance, if you live on a lake, have a canoe or paddle boat handy or some inflatables and life jackets. Or you can include a firepit and adirondack chairs for cookouts. Bicycles are also always appreciated and if you live near ski hills, then having skis available is a great idea.
Just remember that if you do decide to monetize your rental, you will have to look into any tax implications that it will have. After enjoying the fruits of your rental – facing the tax man at the end of the year is the last thing you need.
