A Vacation Home Can Be A
Great Investment!
Lasting Legacy
Management plans to
offer resort management
services to cabin
owners. The terms and
conditions of these
services are yet to be
determined but may
include cooperative
advertising
opportunities, toll-free
reservations, meet and
greet of owner
designated renters,
stocking of supplies,
and arranged cleaning
services.
Cost of Management
Services would be split
between “Owner” and
Lasting Legacy
Management at a
negotiated rate. Common
practice is 40% of
rental fees to the
resort management
service and 60% to the
cabin owner.
Lasting Legacy Covenants
will restrict the number
of guests per cabin and
will insure the safety
and peaceful atmosphere
for all cabin owners.
Management would require
that all guests maintain
the high standards
agreed to by all
Homeowners at Lasting
Legacy.
A Market Analysis
indicates that similar
cabin rentals in Wyoming
range from $1200 to
$3000+ a week (6
nights). Pricing would
be at the discretion of
individual cabin owners.
Enjoy Your Cabin at your
convenience. When you
are busy – let your
cabin earn money for
you!
IRS Publication 527 –
Residential Rental
Property (Including
Rental of Vacation
Homes) defines the tax
deductions available to
Vacation Home Owners. If
you rent your vacation
home 15 or more days per
year deductions may
include advertising,
cleaning, maintenance,
insurance, management
fees, mortgage interest,
repairs, supplies,
taxes, utilities, and
other items per your
accountant’s
instructions.
*Informational only,
this is not legal or
financial advice! Please
consult your own
attorney and/or
accountant. |
