Why Short Term Rentals?
Owning a rental property has many advantages. Short Term Rental, as opposed to traditional long term rental, is a way of maximizing your property to bring in the most return for your dollar. Here are three compelling reasons to check out Why Short Term Rentals are a great option.
Higher Rental Revenue
Renting your home for a short period of time – usually less than 6 months – creates higher average nightly rates than long-term rental. Higher nightly rates equal higher monthly rates. A tenant paying for a summer rental will pay a higher 1 month fee, as compared to a long-term renter. It’s one month! Vacations are special! It’s not for the next 10 years. Read about a great short term rental experiment here.
Why Short Term Rentals Allow More Income with Less Use
Book your home solid for 6 months and make as much as a year of long term renting! Also on the plus side, Short Term Rental is less wear and tear on the home. These renters are out and about more. Additionally, you have the breaks in between renters to clean and check the home, make small repairs, and notice little issues before they become big problems!
You Still Have an Option to Use Your Own Property
Have a condo on the beach? You can schedule yourself in between clients, and squeeze in a week of sun and surf! Maybe you travel for work, and want to have a home base one week out of the month. You can schedule that in as a reservation at your property, keep a locked closet with your things in it, and have the convenience of a home away from home! That’s a great perk!
With the higher rental rates you’ll command, the lesser wear and tear on your home, and the option to benefit by using your property when wanted or needed, the advantages of Short Term Rental are definately worth looking into!