Publisher's Synopsis
I bought my dream cottage, or what I hope it will become someday, but for now it is an investment and a place for me to enjoy getting away from the city. When I was younger, we would go up to my aunt's house that felt like a cottage. I loved it there and remember saying to my aunt that one day I would like to own a house or cottage and voila...my dream came true. After 2 years of searching, I bought my cottage. My intention was to use the cottage with family and friends, but also rent it out to pay for some upgrades and pay for the monthly expenses. Have you thought about by a cottage and renting it out to strangers, but weren't sure how to go about it? Well, you're not alone. There are over 390,000 search results in Google on the keywords "cottage for rent Ontario." How are you going to get to people to see your add? Well, that's where I can help. When I purchased my cottage, I was so excited and thought it would be easy to rent. WRONG! There are rules in different municipalities that may prevent you from renting. You may be part of a community associations that may have something to say. Where do you advertise to get the best results? Do I have to pay taxes if I rent it? Will my cottage insurance cover me for my rental? Yes, you have to pay taxes when you rent out your property. If you think your cottage insurance will cover you if someone damages your property think again! How do I know this, because I was in your shoes. I rented out my property and found people to rent it, but when damages occurred, guess who had to pay. ME! When Revenue Canada finds out you rent out your property, be sure they are going to ask you for back pay. Have you ever tried to find information, only to be searching everywhere and not finding what you need? Or maybe you found someone to give you some information only to be transferred to another person who eventually transferred you back to the original person? Well, that was me. I was that person who wanted to rent out her cottage as a business, but had to look everywhere for information and it was frustrating. It took me months to find information on what I needed to do to get my cottage ready to rent. I wrote this book because I made quite a few mistakes that cost me both emotionally and financially. I thought, if I was struggling with this, maybe there are other owners feeling the same frustration. I don't want others to go through what I did and if I can help one person, then my struggles were worth it. Maybe you have the same dream of buying a cottage or having an investment property. Whatever the reason, there are things you need to know about before you plan to rent out your cottage. I put together all the issues I experienced and the ways I made income and packaged it all into this quick read book....TURN YOUR COTTAGE INTO MONEY. In the book you will find The best places to advertise your cottage and some that are free Information from insurance company about what you need to do to protect you and your property Ways to generate additional income How to create your own website in less than 1 hour And so much more I wish I would have had this information before I started. I would have avoided many mistakes. Hopefully the information will be helpful to you or someone you know. Good luck and have fun. Tina Lalonde"
