By: Mike Kennedy mkennedy@railey.com 301-616-6106 January 25th, 2012 Category: Garrett County News, News

The Deep Creek Lake area and Garrett County, Maryland will be featured in an upcoming reality TV series called “Getting Away Together” now beginning to air on PBS member stations nationwide. The Deep Creek Lake area and Garrett County, Maryland episode will begin airing as early as February on different PBS stations across the country. Check local listings for air times/dates. The series focuses on large groups vacationing together and the Garrett County episode will follow a military family Mike & Alexis Piet from Arlington, VA, their parents and family friends as they visit some of Garrett County’s most well-known attractions, and include Mike’s training for the SavageMan Triathlon. We will keep you posted as we become aware of airing dates for the Garrett County episode and watch your email for more news on “Getting Away Together”.

The episode filmed in Garrett County is made possible in part by Railey Mountain Lake Vacations, Bill’s Marine Service, Bill’s Outdoor Center, Honi-Honi Bar, Uno Chicago Grill Deep Creek Lake, Arrowhead Market, and Garrett 8 Cinemas.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 August 24th, 2010 Category: Deep Creek Lake Buyer Info, Vacation Rentals

Vacation rental homeowners in the Deep Creek Lake area often inquire about the tradeoffs between professional property management and self-management like those found on VRBO, HomeAway, and other ‘Vacation Rental By Owner’ websites. Professional property managers cost money but the benefits usually outweigh the costs. Prop­erty owners who rent on their own and self manage often times don’t “save” money - they “earn” it spending much of their own time, energy, and additional money dealing with their property. Not only is the self man­aged “for-rent-by-owner” challenged to find paying guests, they must also take care of all repairs, cleaning, and dealing with guest complaints.

A professional property manage­ment company like Railey Mountain Lake Vacations will eliminate the stress and reduce the liability of your vacation rental by taking care of such things as:

• Promptly responding to emails and inquiries from impatient visitors who are shopping around
• Answering 10 inquiries for every booking
• Negotiating rent with guests who bargain shop
• Dealing with all guest requests including complaints
• Being able to access an alternative cleaner when the regular cleaner isn’t available
• Dealing with lost keys during after hours
• Coordinating plowing, mowing, and landscaping vendors
• Getting prompt responses by an a/c repairman in the middle of summer
• Accepting credit cards on your behalf which is necessary to get reservations in today’s consumer credit society
• Collecting all accommodation taxes
• Utilizing an in-house professional laundry to eliminate health related pathogens in linens and towels
• Using bonded workers covered by worker’s comp for repairs

Simply put, professional prop­erty managers are experts who know what problems arise in putting a non- resident guest into a home owned by another non-resident.

When it comes to reservations and bookings the ‘for rent by owner’ web sites often attract bargain shop­pers who often send dozens of email requests asking for discounts. Railey Mountain Lake Vacations has the area’s largest inventory of rental homes in the Deep Creek Lake area that over the years has created the area’s largest database of guests and visitors who are less interested in bargains and more interested in the quality of the home and rental experience.

Self management can work for an owner who is both motivated and willing to do A LOT of work - how­ever, a professional property manager like Railey Mountain Lake Vacations does ALL the work and more importantly is equipped to do the job right to reduce the homeowner’s liability. If you are interested in property management for your vacation rental please contact Leigh Miller at Railey Mountain Lake Vacations at (800)846-7368 or leigha@deep­creek.com.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 17th, 2008 Category: Deep Creek Lake Buyer Info, Vacation Rentals

If you currently own a vacation rental home at Deep Creek Lake or considering purchasing one - there are a few interesting trends and insights that continue to evolve in our resort real estate market.

RENTAL BOOKINGS UP

Railey Mountain Lake Vacations reports that rental bookings are up about 7% this year compared to last year - even with the price of gas reaching record highs. Most local business owners have said that the Deep Creek Lake area actually benefits when the price of gas goes up - the reason being is that vacationers from Baltimore/DC and Pittsburgh actually choose to drive the shorter distance to Deep Creek for their summer vacation as opposed to the Outer Banks, Myrtle Beach, the Grand Canyon, or Disney World in Florida.

Larger Rental Homes Still Doing Well

Another trend reported is that the larger homes (8 or 9 bedrooms), with amenities such as an indoor pool, are still doing extremely well - and most continue to see annual owner gross rents increase. In fact one of the larger “pool houses” with an incredible lake view will probably generate gross rents in excess of $200,000 in 2008 - which would be the first time a rental home has broken that barrier. This proves that you don’t really have to be lakefront to be one of the better rental homes - an incredible lake view is something most renters desire.  Since most of these larger rental homes get rented on the weekends during the non-summer months - Railey Mountain Lake Vacations is now pushing mid-week corporate retreats that will probably increase the gross rents even higher in these homes.

The “WOW” Factors

If you are considering purchasing a vacation home at Deep Creek Lake and want to maximize rental revenue below are the “wow” factors that make a good vacation rental home;

• Updated and Above Average Decor - this may be the most important thing to have in your home. Renters want a certain standard of furnishings in a home they rent. This can make a tremendous difference in the amount of rental income you can generate.
• Lake Front or Lake Access Setting.
• Log Cabin - people really like that warm, cozy feeling of a cabin in the woods.
• Big Views of the Lake or Mountains - people want to be blown away by a view they can’t get back at home.
• Private Indoor Pool.
• Home Theatre.

Some factors that detract renters - or the “Un-Wow” factors (if that is such a word);

• The setting is “too” residential.
• Duplex/Townhouse/or Condo - most renters want privacy on their vacation.
• The Interior and Decor are below minimal standards.
• No Access to Deep Creek Lake.

Real Estate Opportunities

Railey Mountain Lake Vacations reports their is still great rental demand for larger rental homes at Deep Creek Lake - 8 bedrooms or more. Our inventory of larger rental homes has not grown much at all since 2003 when more restrictive zoning measures were enacted. Their are still opportunities in this current real estate market to take advantage of this trend. You could (1) buy an existing rental home for sale that already has good rents, (2) buy a really good lot and build, or (3) buy an existing home for sale and modify it so it can be a good rental. Finding an existing rental home with a high rental history is sometimes difficult - the good ones usually get snapped up right way. The more likely path to owning a good rental home would be to either build a new house or renovate an existing one. New construction obviously has a time element involved - but there are currently some really good lake view lots for sale at price points that could make sense building a new house - even if you have the added cost of a sprinkler system and other fire code measures that are required today.

Modifying or renovating an existing house is certainly another option to consider. One of our clients purchased a lake access home with a decent view of the lake a year or so ago - then added an indoor pool and now has annual gross rents exceeding $90,000. 

We hope these vacation rental trends continue. No one would have ever predicted the houses with indoor pools would have annual gross rents between $150,000-$200,000 - but it is happening. What’s the next big thing for these rental homes? Who knows - maybe an indoor bowling lane?