Vacation homes: Not just for the rich and famous
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Karpinski and Boulanger both get most of their initial rental inquiries by e-mail. However, they never actually rent out a home until they've talked with the person by phone. "I can read people pretty well, even over the phone, so I know who I'll let into my homes," says Boulanger. He also has been fortunate to develop a group of renters who occupy his properties every year, without fail, and who have almost become personal friends.

Getting the green
Boulanger and Karpinski both eliminate potential payment conflicts by requiring renters to send them at least half of the total rental fee to hold a reservation (especially during peak season) and requiring the balance of the fee two to three weeks before the renters arrive.

Both owners require security deposits to ensure against damage. They also have detailed lists of rental requirements regarding smoking, pets, cleaning arrangements, etc.

9 tips for successfully renting your own vacation properties:

• Do your homework. If you're buying a vacation home that has been a rental in the past, your real estate agent should be able to provide details on how often the home was rented and at what price. Research your destination town thoroughly for details such as average household income, crime rates and more. • Be proactive about maintenance. Smart owners are even more vigilant about taking care of their rentals than their primary residences, since so many different people are using the homes. Also, even small, unexpected problems can eat into their income streams. Try to find a local handyman to check the property periodically. • Develop a home-cleaning plan. There's no single way to do it. You can make renters responsible for cleaning or even for bringing their own linens. Or, you can hire local cleaning services or independent agents. Housekeepers also can help by letting in service people to do repairs and by occasionally delivering extra keys to renters who misplace theirs. • Know your local resources. Keep a copy of the phone book from your vacation town with you at all times. That way, you can easily call a plumber if your rental home's septic system fails or reach an electrician if the house blows a fuse. It's also smart to check out qualified local repair people in advance so you can call them at a moment's notice. • Stay abreast of required taxes. Even if your state or locale doesn't have a sales tax, it may have a lodging or "bed" tax. Karpinski warns that tax departments proactively look for new owners who are not paying taxes and can send you a big bill if you're not paying attention. • Small children and pets? Whether you allow them is up to you, but be aware of the revenue you'll lose if you don't. Karpinski finds that families with young children are actually her best renters; she rarely finds a crayon-scribbled wall or broken window, and the families rarely stay up all night partying! Whether to allow pets is a complex question, since some people have serious allergies. It's common to charge a slightly higher fee if you do accept furry friends, since you may need to clean the carpet or repair upholstery. Whatever you decide, be upfront in your rental listing. • A picture is worth a thousand words. Provide as many photos of the property as you can -- inside, outside and room-by-room. Photos eliminate a lot of guesswork and repetitive questions, such as "Do you have a TV/coffeemaker/fireplace?" Jeff Smith of CyberRentals says properties with good photos seem to rent much more quickly. • Respond quickly to potential renters. Smith says renters often complain that owners don't return their phone calls or e-mails quickly enough. "Remember that a new renter may have narrowed their vacation home choice down to three or four properties they like. If you're the first owner to return their call or e-mail, you're going to be way ahead of the game," he says. • Consider helpful tools like lockboxes and call blockers. While Boulanger simply mails keys to each renter, Karpinski prefers to maintain lockboxes at each home. Renters get the secret code to the boxes when they've paid their fees in full. And if you're concerned about chatty renters who might call family and friends in Outer Timbuktu, talk to your phone company about blocking long-distance calls on your rental home's phone line. Many renters have cell phones or bring long-distance calling cards anyway.

"I tell people all the time: You really can have a vacation home, even if you think you can't," says Karpinski. "It's definitely not an impossible dream."

Teri Cettina is a freelance writer in Portland, Ore..