As investors, we have to look at all angles when it comes to short term vs long term rentals. While short term, Airbnb types seem like the way to go for many, we are slowly finding out that it isn’t always rainbows and butterflies. Short term rentals can be great if you are in the right area, where vacationing occurs year-round and there is a large possibility of getting your home rented out for multiple weeks/weekends a month, which ultimately would pay the mortgage and then some. However, if this is not the case, you run the risk of owning a home that is vacant more often than it is rented out.
Long term rentals give investors consistency. It is easier to map out your profit margins with long term rentals. Also, long term rentals require less day-to-day maintenance. With short term rentals, cleanings are required after each visit, and you run a higher risk of damage occurring to your property because so many different people are renting the space.
These are all things to consider when choosing the type of investment property you want to have. Watch the full video for insight from the professionals at Capstone Realty and contact the team today if you have further questions!
© 2024 Capstone Realty Professionals - All rights reserved