And to smooth over glitches. Cindi Clayton-Davis, president of Condotel Corp. in Ruidoso, a
13-person agency that oversees the rental of 175 privately owned houses, cabins and condos,
says one renter entered a house recently and discovered that the confused homeowner was also
there. "We always have a back-up," she says, "and moved the client to another unit."
Interest in investing in vacation rentals has grown so much, says Ms. Clayton-Davis, that
house hunters often come into her office with a listing sheet and ask, "How much can I make
from this property?" before they buy it. "I tell them that we rent out the average house for
100 nights, but that certain ones are rented up to 220 nights," she says. "Of course, it
depends on whether homeowners want to come here during prime time themselves and if the house
has wonderful amenities, like hot tubs and cappuccino machines. Our most fabulous property is
a four-bedroom four-bath home with spectacular mountain views and a path that leads to a gazebo
with a fireplace in its own woods."
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Despite the drawbacks, some villa owners will not be able to spare the time to mange their business
and will be forced to use an agency. The challenge then is to find a good one. Ask for recommendations
from other clients and make sure you check them. Scrutinize the rental agreement carefully to ensure
it is clear what the agents are required to do. Also, demand to see copies of the utility bills,
then you can see when the property was occupied and check that information against the periods when
rent is paid to you.
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