Home | How to make up to $3000 per week or more from Summer Vacation Home Rentals in PEI

How to make up to $3000 per week or more from Summer Rentals in PEI

PEI is a vacation paradise. Beautiful beaches, warm water, friendly people and many activities. You can attend a ceildh, a maritime concert or variety show, go deep-sea fishing, swim, sunbathe, catch a play, partake of lobster at a lobster super, walk along the boardwalks, cycle the Confederation Trail, the bed of the old rail line that goes clear across the island and the list is endless. There are excursions of every interest and you need never be bored.

Many people come to PEI for the summer. From a short holiday to all summer residents, these visitors swell the population of PEI from 140,000 full-time residents to a population in the summer of over a million. All these visitors must stay somewhere while enjoying PEI and you could be one of those providing that accommodation with an investment in a PEI luxury home for summer rental to vacationers.

While you could certainly purchase an existing Bed & Breakfast or buy a large home to convert for the purpose, this might be a little bit too much work for the casual investor and we have another suggestion.
Michael Poczynek speaks on purchasing a luxury PEI summer home for vacation rentals and a home located in Sunbury Cove Estates that he recommends, 3 Stacy Lane.

You can purchase a luxury PEI summer home and rent this one unit to vacationers from the cities of Canada and the US at prices up to a possible $4000 per week. You would be looking for a home with water frontage and the best returns would be garnered from a larger home with luxury features as your potential guests will be used to the best in their everyday lives and this is not a "roughing-it" experience for them. Basically they want accommodations as good as their home in a place like PEI, free from the hurried dynamic of their homes and lives.

You could look for a home to purchase in a waterfront estate such as Granville on the Water or Sunbury Cove Estates but wherever you purchase you will require a larger home, full featured chef kitchen or similar, all household necessities must be included (or purchased) from knives, plates to towels, tablecloths, you get it everything for gracious living as well as special attention should be placed on the bathrooms. They must meet the highest expectations including Jacuzzi tubs and possibly sauna. Outdoors you want shore frontage, perhaps a small dock, a swimming pool is an excellent feature, and certainly a children's' play area with jungle gym etc.

Call Michael Poczynek regarding Prince Edward Island Real Estate

Call Ron Barrett regarding PEI Real Estate opportunities

Call Matthew Mackay regarding PEI Waterfront Real Estate

PEI properties of this type may run as high as $500,000, however it is possible to buy a suitable PEI home for luxury summer rental as low as $300,000. Generally, as this is not your primary home, you will require 25% down which is between $75,000 and $125,000 depending on your price range. This means that you will be mortgaging from $225,000 to $375,000. In round figures your monthly payment will be from $1000 to $1700 per month based on best rate of 2.65%. Add property taxes, insurance etc and you are looking at a monthly cost of approx $2000 to $2500.

As there are 12 prime weeks to rent in the PEI summer home rental season and there are 12 monthly mortgage payments to be made this means that the cost of one week's rental is equivalent to one months debt service and costs. So if you can rent the two example properties, the $500,000 property at $4000 per week and the $300,000 property at $3000 per week you have cleared $1500 and $1000 per week respectively. This does not of course take into consideration that you can rent these PEI homes the other 9 months of the year, at a lower monthly rent of course, nor does it take into consideration equity potential gains as these PEI properties appreciate in value.

You may think that $4000 per week is a lot of money and would anyone pay that for a PEI rental home and holiday. Just divide this amount by 7 days. $571 per night for a PEI vacation home that is in all ways luxurious, that has facilities that allow the user to create their own meals if they wish, and that would accommodate 2 families easily, is not a lot when compared with the cost of hotels in larger centers which may be the alternative holiday that your guests would plan. You are providing an amazing get-away and a complete change of lifestyle for the harried executive from Toronto or Boston. PEI is a safe haven that they can bring their families to and not worry about what their children are up to.

So think about becoming a summer home investor in PEI. Remember that you do not have to be here during the summer, although obviously you would want to take your own holidays here and can even offset some of your profit for a long vacation stay on the island. The management of your property can be safely and confidently assigned to one of the PEI property management firms and we can help you engage such a service. Some of these companies even undertake to rent your property for you. They will keep your property safe in the winter and provide cleaning, gardening and maintenance service throughout the season.

Give us a call today and we can discuss your next big adventure!

May we respectfully suggest that you look at the following PEI Properties 64 CARROL ST , ALBERTON C0B 1B0 Here is a beautiful 4 bedroom Ocean Front home that is located in the town but with the feel of the country. Very private treed property with 250 ft on the water. Exterior of home is brick and Cape Cod siding. The home`s style is Traditional English. Ample oak kitchen cabinets with island and water view from dining room table. 2 full baths, large living room with propane fireplace and garden doors out to side deck. Attached 2 car garage. Additional features incl Central Vac and Air exchanger. This is a very relaxing and private setting. Property will be surveyed at time of sale. (all sizes and measurements approx). $499,000.00 More 5262 BIRCH HILL RTE# 12 , BIRCH HILL C0B 1B0 WATERFRONT!! Completely renovated from top to bottom and professionally decorated with 65.4 acres of waterfront!! Need I say more? Could this possibly be the best investment property in PEI? If you are looking for a large country home that is clean as a whistle, this is it. Potential for farming and development is a possibility. Waterfront is high quality and 1400` waterfrontage. Every detail is perfect in this home and all rooms have been redone. $349,877.00 More 80 STACY LANE , ST NICHOLAS C0B 1T0 SUNBURY COVE ESTATES Possibly the BEST location in PEI! New Home to be completed – ready by the spring! OCEANFRONT W/PRIVACY, VIEW OF CONFEDERATION BRIDGE & 2 Lighthouses! Water view from every window. 15m from Summerside, 10m from Golf Course, 20m to Mill River Golf, and 20m to bridge. Located in PEIs hottest location Sunbury Cove Estates. Underground services, English style lamp posts, gorgeous landscaping, walking trails, high speed Internet, protective covenants, year-round management/snow removal/security/maintenance. Access only by 3Km private road surrounded by 100`s of acres of natural undeveloped land. $599,877.00 More 18 MCKENNA LANE , ST NICHOLAS C0B 1T0 SUNBURY COVE ESTATES Possibly the BEST location in PEI! New Home to be completed – ready by the spring! OCEANFRONT W/PRIVACY, VIEW OF CONFEDERATION BRIDGE & 2 Lighthouses! Water view from every window. 15m from Summerside, 10m from Golf Course, 20m to Mill River Golf, and 20m to bridge. Located in PEIs hottest location Sunbury Cove Estates. Underground services, English style lamp posts, gorgeous landscaping, walking trails, high speed Internet, protective covenants, year-round management/snow removal/security/maintenance. Access only by 3Km private road surrounded by 100`s of acres of natural undeveloped land. $449,877.00 More 87 MORRISON LANE , NEW LONDON C0B 1M0 Inspired by the Island`s period homes, this unique 4 bedroom property successfully blends old-world charm with modern style and convenience. Its features range from classically-inspired, hand-crafted woodwork and window seats to modern in-floor heating. The home also offers a large, ensuite master bedroom with a walk-in closet, his and her sinks and a 2 person jacuzzi. Enjoy spectacular views from the property`s wrap-around deck overlooking the Southwest River, New London Bay, and surrounding countryside. Property was featured in an article in the New York Times for best views and decks in North America. $449,900.00 More 132 CAMPBELLTON RD , STANLEY BRIDGE C0B 1M0 Absolutely stunning waterfront home which sits on 11 acres of gorgeous land. This home has a breathaking kitchen with ceramic floors, stainless steel appliances, marble countertop and wonderful woodwork. This spacious home also offers a double sided propabe fireplace, french doos, beautiful pine floors and more. This home offers large spacious bedrooms with an ensuite off the master bedroom. Sit out and enjoy your solitude on the lovely large deck facing the water. THis home also features crown moulding, a beautiful landscaped yard, a new foundation, and a large 2 car garage with an above loft. This home rents for $2500 a week in the summer. Close to beaches and golf courses. Worth a look. $599,900.00 More 20490 SEACOW POND , SEACOW POND C0B 2B0 Amazing private waterfront retreat! 4 bedrooms, 460` waterfrontage, open concept, amazing master bedroom complete with cedar lined custom closet. Marble tiles in ensuite. A nature lovers paradise. $499,000.00 More LOT 5 LAIRN, NEW GLASGOW C0A 1N0 `Glasgow Hills Estates` executive golf course living at it`s best! Here is your opportunity to live and play at one of Canada`s best golf courses in style. This new home features approximately 2000 sq ft with 3 bedrooms, 2 car garage, finished with classy trims, engineered flooring, ceramic tile, 9 ft ceilings and the list goes on with extras galore. Now for the best part - your home is backing onto the 9th hole plus you receive 2 lifetime golf memberships to the Glasgow Hills Golf Course which also features a club house with bar and restaurant. Did we also mention the amazing countryside views and distance waterviews. This is definitely a rare find property on PEI. Taxes are part of a larger parcel. $389,000.00 More 629 Water St East, Summerside PEI C1N4H8 Phone: 902-436-2265 *All information in this article is believed to be accurate at time of writing. Readers should not depend on this information exclusively. Before acting on any information contained here you should seek independant legal and investment advise