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Estimated cost of maintaining and renting cabin

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Reference no: EM133145003

A family has owned property with a small lake for many generations.

Recently the family has built three cabins dispersed around the lake to rent out.

They are hoping this will be added revenue.

The family is currently charging $200.00 a night to rent the cabin.

In the table provided is an estimated cost of maintaining and renting each cabin. 

Yearly

Per Rental

Utilities $100

Cleaning/Housekeeping $50.00

Firewood $300.00

Yard maintenance $25.00

Insurance $300.00

 

Maintenance $200

 

With the knowledge that you have of the family's cabin rental business.

  • Family owned and operated
  • Private lake front cabins
  • 3 cabins

The family is thinking about diversifying.

Requirement: - Provide the family with some ideas(3) of:

  • ways they could diversify
  • pros/cons of of each option you have provided

Reference no: EM133145003

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