Rich by renting your chalet

Don't expect to become rich by renting your cottage. However, you can take advantage of the benefits of renting to amortize the costs of your investment. Tips and mistakes to avoid ensuring the profitability of your cottage. The demand for chalet and the number of online rental platforms has exploded in the last five years. Families with young children, baby boomers, and even millennials are very fond of them. But beware: it's not enough to simply own the most charming cottage to have tenants flock to it.

Rental remains the key factor in a popular cottage. Think waterfront cottage. Whether it's the ocean, the sea, the river, or a lake, the proximity of the cottage to a watercourse is the most sought-after rental criterion for tenants," says Martin Provencher, author, and real estate speaker. And these cottages are all the more popular if they are located less than two hours' drive from major centres," he says.

There are therefore very pronounced differences, particularly in the North Okanagan and Kelowna areas of British Columbia and Haliburton, Ontario. Sectors such as Lanaudière and Entrelacs, Quebec, are an exception, however, because the proximity of the trails is worth the price of gold. The rustic chalet is good. The modern, fully-equipped chalet (television, Internet, spa, etc.) is even better. "To increase your chances of renting, you have to offer a trendy product. People now want the same comfort in a chalet as in a hotel," warns Martin Provencher. Before renting out your cottage, check with your municipality to find out what the rules are. Some municipalities prohibit cottage rentals for short stays (overnight, weekend or week).

And if you're looking to get a four or five-star rating within this classification, have an inspector come in before doing any renovation work," advises Jean-François Demers, owner and founder of Chaletsalouer.com, a platform that offers more than 3,100 cottages for rent in Quebec and the Maritimes. He cites as an example the case of a modern, LEED Platinum-certified cottage located in the middle of the forest, whose owner was hoping to obtain the highest rating. The chalet was awarded three stars. The inspector did not like the concrete floor throughout, the plasterboard walls and the lack of curtains in the windows.

There are no written rules on the price a cottage owner can charge for the rental," said Martin Provencher. It's all a question of where the cottage is located. "You have to do your own market research. You have to compare yourself with other cottages in the area and set your price based on what you have to offer, the quality, services, and amenities," he says. And it's a good idea to ask your clients for a refundable security deposit when they leave," Provencher insists. How much should you ask for? It's up to you. "The higher the deposit, the more you reduce the risk of ending up with clients who are not very concerned about the furniture and other equipment in your cottage," says this real estate expert.

To promote rentals, the chalet must be seen on several rental platforms. An exercise that can easily cost $500 a year. Before you sign up for one or more of these platforms, test it on Google. Find out which platforms come out first by entering the keywords that relate to your cottage. Whether it is Airbnb, HomeAway, Cottages-Canada, take the time to analyze if your cottage will attract the customers who consult them. "Unless your cottage is located in a tourist area that is very popular with out-of-province customers, there is no need to invest in national and international platforms. The key is to be on a platform that reaches your main local market," Jean-François Demers recommends.

Unless you live close to your cottage, you will need someone you can trust to manage the rental, including maintenance, cleaning, grass cutting, handing over the keys when customers arrive and leave. The dishes, sheets, shower, toilet, spa, everything must be clean before the next guests arrive," insists Jean-François Demers. Otherwise, the landlord risks seeing negative comments about his cottage on Facebook, Instagram, etc. »

It goes without saying that all owners must declare their cottage rental income," says David Truong, advisor at the Centre d'Expertise Banque Nationale Gestion privée 1859. "He must also charge provincial and federal taxes to his clients, if applicable, according to the rules of the province where the cottage is located," he adds. Expenses incurred by the rental, such as advertisements on the various rental platforms, are deductible. Maintenance and cleaning costs are also deductible. Mortgage interest, utilities, telecommunications costs, insurance, insurance, and renovations are also deductible on a prorated basis according to the number of days rented," he says.

In this regard, your insurer must be informed of the purpose of renting your cottage. You must have public liability insurance. In Quebec, this insurance must be $2 million. Finally, the owner must take into account the change in the use of the property. A personal-use property becomes a rental property when the property is used primarily for the purpose of earning income. "When you change the use of a personal-use property to income-producing property, there is a fictitious self-sale, but the tax consequences can be deferred to the actual sale by making an election on the tax return," Truong says. "The opposite is also true. Whatever the case, you'll need to clear it up with your accountant to avoid problems with the taxman. "Homes and cottages for rent is the perfect complement to your dream vacation! Treat yourself to an unforgettable getaway in the heart of nature and completely unwind in one of our comfortable, welcoming, and spacious cottages, located in enchanting, bucolic spots in Quebec. We carefully select the properties that we offer for rent to our clients, so that everything is in place for a relaxing stay in the country or by the lake.

1Chalet is the perfect companion for your dream vacation! Treat yourself to an unforgettable getaway in the heart of nature and completely unwind in one of our comfortable, welcoming and spacious cottages, located in enchanting bucolic spots in Quebec. We carefully select the properties that we offer for rent to our clients, so that everything is in place for a relaxing stay in the country or by the lake. Rent a comfortable cottage in a splendid natural setting Our cottages for rent or vacation rentals are located in the most beautiful regions of the province, from the Eastern Townships, Chaudière-Appalaches or Gaspésie to Lanaudière.

Houses and cottages for rent at cottages for all tastes and budgets. A team of attentive, experienced consultants specializing in tourist accommodations will accompany you every step of the way in renting your cottage and will be available to answer your questions and provide you with information as needed. By doing business with a chalet, you are assured of receiving customer service that meets your expectations. Our team will guide you to find the ideal cottage in Quebec, which will welcome you as a family, a couple, or with friends, for a relaxing and memorable stay in the heart of one of our beautiful regions. Browse through our selection of cottages for rent/vacation rentals and do not hesitate to contact us if you need more information! Need to find a waterfront or mountainside cottage with pool, a private spa that accepts pets in Quebec? You will find on the site a wide range of information on cottages, houses, and vacation condos available for short and long term rentals.

Cottage vacations are an excellent opportunity to enjoy a relaxing atmosphere and get closer to nature. Simply browse through the rental listings now to discover the havens of peace available to you for an active, pleasant and comfortable vacation. Moreover, 1Chalet has an efficient and very easy to use a search engine to fine-tune your search for holiday rentals and offers a unique browsing experience with quality images and detailed descriptions. You'll find the perfect little chalet for a romantic getaway or with the kids. You will also find the large chalet that can gather your family and friends. There are cottages close to the activities for those who like to move around, and other cottages completely isolated in the woods for a moment of great tranquility. A stay that reflects your image awaits you!

A quick check by phone allowed us to find availability at Trudeau Outfitter, at Chalets Lanaudière, in Entrelacs. Feel free to consult the Tourism Laurentides website, but it is also possible to call to have an agent do a check for you. Their return call confirmed a few availabilities, among others, at Chalets Lac à la Truite and Chalets Royal Laurentien. Chalets and condos are grouped under the same heading on the Eastern Townships Tourism website. Several establishments offer online reservations, allowing you to check availability. Since there are several luxury tourist residences on the Tourism Charlevoix site, the average rental price is much higher.

Pascal Grenier has been a wedding photographer since 2004 and is also passionate about writing on various subjects such as photography, real estate, investments and SEO.