Quote:
Originally Posted by TiltonBB
That may be true in some situations but many people have different circumstances.
In some cases as people get older and retire their income is no longer what it was when they were working. They have a family home on the lake that has been enjoyed for generations but with the reality of rising maintenance costs and property taxes it has become difficult to stay ahead financially.
Maybe a health situation for them or a family member has drained them financially but they want to try to keep that home they have long planned to retire in and pass it on to the next generation.
I would not be that quick to tell people to sell their homes. I find that the longer people have been on the lake the more respect they have for it. Families that have been on the lake for decades train the next generation about boating rules and etiquette.
If a little rental income helps them maintain possession of their home I think that is a good thing. There are laws in place regarding noise, parking Etc. I would have no problem calling the police if a neighboring property became a nuisance.
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So pass it to the next generation and stop dubbing around.
When my grandmother was done, she went to a retirement home and my mother took over the cottage. Now my mother is done, moved to Florida, and her granddaughter and great grandson live there.
But if they are concerned with steady income... a long term rental is the key.