Recent Comments
    Categories

    Archive for the ‘Short-Term Rental’ Category

    The low-cost of short-term rentals have people flocking to them when they visit various countries on vacation. They’re affordable, convenient, and comfortable. This booming industry is also intriguing for investors looking to earn some extra income by providing short-term rental services. So, is it worth it for you to invest in one of these potentially lucrative properties?

    Factor In Operational Work

    Unfortunately, short-term rentals aren’t as easy as putting out an ad and watching the money roll in. There are a variety of needs that you’re going to have to take care of, as well as administration duties that need to be performed on a daily basis. Before you start thinking that this will replace your 9-5 job, factor in everything that needs to be done so you don’t end up losing out on your investment.

    Being a Host

    Rather than being a traditional landlord, you’re now going to have to play the role of a host for your tenants. This means that you’re going to have to respond to your tenants’ inquiries as well as to emergency needs – which could come in the late hours of the night. Additionally, you’re going to have to become more of a people person as there tends to be much interaction in short-term rentals due to the limited space in these properties. Don’t forget cleaning up for your guests as well – unless you hire someone that takes care of this on a daily basis. Guests will treat your rental property like a hotel room, meaning you’ll have to pick up the towels, clean the toilets, and ensure that everything looks like they’re in tip-top shape.

    Summary: Short-term rentals are becoming more and more popular. But do you have what it takes to run one?

    Bio: Kuba Jewgieniew is the CEO of Realty ONE Group, a real estate brokerage firm with offices in California, Nevada, and Arizona.