Posted by Ben in Ohio on April 06, 2000 at 08:00:10:
Barbara–
Wish I could have it. My wife and kida are horse folks and they live and breathe horses. This target market is an easy sale (or rent). My personal feeling is that the “horse industry” is in a growth phase. I base this on the idea of freedom, nature, outdoors, etc. In a continually hi-tech world, nature and outdoors is increasingly in demand. As a parent of three children, each of whom enjoy horses I am thrilled. They have little time for internet, TV, wasting time, etc. It’s a great family endeavor, and not necessarily an expensive one. It’s more fun to be on a trail with the family than hacking away on the golf course, for example.
Anyway, I got carried away. You might try to call some local horse owners, clubs, stables, etc., to get a fell for the area. You might find there is a demand for your property. Check with zoning for the use of a horse facility.
I think the key to remember in any real estate use, wether rental property or vacant land id the “highest and best use” principle. Follow this and you will generally go in the right direction. Keep me posted on the horse thing. If it works and you set up a dude ranch or something let me know. I’ll load up the family and hit the trail with you!
I will like to know if anyone can help me with a rental question?
I have a 4,000 sq. ft. ranch style home in Brookings, Oregon. It sits nicely on 18 acres of land overlooking the ocean. Perfect land for horses. There is a barn and much more for the horses. The population of this town (Brookings) is quite small. I have found it difficult to attract people from this area.
What would be the best method of attracting people to rent this property? Newspapers (local or state), magazines, word-of-mouth? Any other ideas? Should I find renters in-town or out-of-town or out-of-state?
In terms of who I should rent to, what group is most profitable and stable (in terms of renting for a long time)?
There’s the plain old rent out to anyone, rent it to vacationers, have people sign up for the place a couple days or weeks and bring their horses, or have someone use it for a horse business. And suggestions that would be the best thing to do? Also, which is better when renting out to people: a furnished or unfurnished place.
These are all of my questions and concerns. If anyone can help provide me with some good ideas, I would greatly appreciate it.