We met dozens of vacation rental owners at the recent Cottage Life Show in Toronto. The questions they raised are relevant to owners the world over. Here's a couple of the hottest topics from our Show files:

"What about damage? What happens if the renters trash my place?"
It was interesting how many people asked this question and it seemed to be the overriding concern of owners considering rental for the first time. Most cited stories they had heard of overcrowding, wild parties and general disrespect for property, and said how worried they were that they would experience something similar.

Of course there is risk in this business and all rental owners need to be prepared for occasional damage, but mostly this is of an accidental nature. Minor breakage, screen door replacements, and wall scuffs are likely over the course of a rental season, but major or catastrophic damage is very rare.

There are a lot of things owners can do to reduce the risk, including screening guests thoroughly, advertising wisely and generally trusting your gut feeling about a potential group. If you accept every booking regardless of the nature of the group there is a higher likelihood of damage than if you apply due diligence to checking them out. Party groups can be creative when applying for rental so make sure you ask plenty of questions to verify the group demographics.

"Can I charge extra for accepting pets?"
One of the reasons for vacation rentals becoming so popular is that the whole family can get together -- and that includes the family pet. Most families have at least one dog and of course they vary from purse sized models to 150lb + but regardless of the size they are much loved and their owners want them to be welcomed as much as they are.

I've accepted dogs in my place ever since I started to rent and estimate over the years, and all the places I've owned, have rented to over 1000 families. In that time we have never made a claim on a deposit for pet damage. Nor have we ever felt the need to charge extra for welcoming our guests furry family. This is a difficult call and one that every owner has to make -- firstly to accept pets or not, and then to decide whether to make an additional charge. Whatever you decide, it's important that the guests who are bringing their pet are not made to feel uncomfortable in any way.

Members can click here for more ways to reduce the risk and protect your property.

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