Reducing Expenses for Your Vacation Rental

Most of our Lake of the Ozarks vacation rental management clients are second homeowners who are looking to off-set the costs associated with owning a vacation property. Even though this might not be an “investment” property, they would still like to keep their expenses to a minimum.

Calculating Vacation Rental Expenses

Ideas for Reducing Vacation Rental Expenses Overall

Here are a few ideas to help reduce the overall expenses of owning a vacation home or condo at the Lake of the Ozarks:

1. Smart Thermostats

Having a “smart” thermostat that you can adjust/monitor from your primary residence can help save on heating and cooling costs, as well as give you peace of mind during the winter. While we recommend having a WiFi enabled thermostat, you’ll want to ensure that it’s easy for guests to use. Try to avoid Nest’s or similar thermostats that are not user friendly for your guests. You just need the basics: the ability to monitor the temperature and to adjust it if needed.

2. Water Sensors

Having a “water sensor” for your AC, water heater or utility room can also give you peace of mind. This device senses water and can alert you to a potentially costly leak. Some devices will actually shut down your AC if it is leaking water to prevent further damage to your property or in the case of a condo, someone else’s property.

LED Lighting for Vacation Rentals

3. Noise Detectors

This is one smart device that we DO NOT RECOMMEND. We have over 2,000 rentals each year and we get less than five “noise” related calls per year. The cost of the device, combined with the potential for false alarms, just isn’t worth it in our opinion. Now if we had hundreds of noise-related calls per year, then that might be worth it.

4. LED Lightbulbs

Changing your lightbulbs to LED will save you money in the long run. Since they do not generate heat like traditional bulbs, using 90% less electricity according to the Ameren website, the typical household can save around $225 per year on energy costs. We look for bulbs when they are on sale for extra savings!

Reducing Vacation Rental Expenses During Off-Season

There are some services that you do not need in the off-season. You can change your trash service to once per month or if you close your property down, suspend it all together until the following spring. If you have Spectrum and have a newer Samsung television or Roku enabled television, you do not even need to have a physical cable box anymore. While you will still have to pay for a single box to have service, you can download the Spectrum app on to those compatible televisions and eliminate those extra boxes. If you currently have 3 boxes, eliminating the cost for two of those boxes will save you between $400 and $500 per year!

Lake of the Ozark Vacation Rental Management

If you’re thinking about purchasing a vacation rental property or turning your second home at the Lake of the Ozarks into a vacation rental, be sure to reach out to us. We are happy to provide you with an estimate of rental income based on our 20+ years of statistics and experience. Your Lake Vacation is here to help with all your Lake of the Ozarks property management needs!

Nightly Vacation Rentals at the Lake of the Ozarks: 

Experience the Difference

YourLakeVacation.com

4571 Osage Beach Pkwy
Osage Beach, MO 65065
Phone: 573-365-3367

Like Us on Facebook

Follow Us on Instagram

Leave Us a Review on Google