Your Ultimate Guide to Investing in Short-Term Rentals and Airbnb Properties in Lake Geneva

Check out our investing guide for short-term rental properties in Lake Geneva, where we talk about location, budgeting, legalities, and more for maximum returns.

Are you considering investing in a short-term rental or Airbnb property in the Lake Geneva, WI area?

Location is key, and Lake Geneva has much to offer. This popular vacation destination boasts a stunning lake and a charming downtown area with excellent shopping, dining, and cultural activities. Additionally, the area offers a range of outdoor recreation opportunities, including golfing, boating, hiking, and skiing.

When looking for a property, be sure to consider its proximity to these attractions.

  • Yerkes Observator
  • Lake Geneva Safari
  • Lake Geneva Ziplines
  • Dungeons & Dragons birthplace
  • Geneva National Golf Club
  • Downtown
  • Riviera Beach

Properties near the lake or downtown will command higher rental rates and occupancy rates than those further out. It's important to remember that the rental season in Lake Geneva runs from Memorial Day through Labor Day, so keep this in mind when planning your rental strategy.

Local Laws & Taxes for Short Term Rentals in Lake Geneva

Crunching the numbers is crucial before making any investment. Property taxes in Wisconsin can be high, so it's important to factor that into your budget along with mortgage payments, insurance, repairs, and property management fees. However, a well-managed vacation rental property in Lake Geneva can yield significant returns, especially during peak season.

If you're new to real estate investing, a turnkey property may be the best option. Many fully renovated properties are available in the Lake Geneva area that is ready for immediate occupancy. This can be a smart choice for investors who want to avoid the headaches of renovations, repairs, and maintenance.

Before purchasing any property, it's essential to familiarize yourself with the local rental laws. Wisconsin has specific regulations for short-term rentals, which vary by city and county. It's crucial to research and abide by these laws to avoid legal trouble and fines that can eat into your profits.

We recommend checking out the City of Lake Geneva guide to renting out your property, which breaks down everything in great detail.

Self Managed vs Full Service Property Management

Finally, unless you have experience managing a vacation rental property, it's best to hire a property management company like ourselves.

Grand Welcome of Lake Geneva is a family-run business focused solely on your vacation rental's success. We offer the opportunity to achieve more revenue than self-management, are more proactive in optimizing rates than our competitors, and provide a more complete, resort-level guest experience than either. We can also help you handle maintenance requests, and ensure that your property complies with local laws.

In conclusion, investing in a vacation rental property in Lake Geneva, WI can be a lucrative opportunity. Remember to choose a property in a desirable location, crunch the numbers carefully, invest in a turnkey property if you're a new investor, understand local rental laws, and hire a competent property management company. With careful research, planning, and execution, your investment could yield significant returns.