When deciding whether to use your investment home as a short-term or long-term rental home, there are a few things you need to consider: the amount of stays you will use, your revenue expectations, and your tenant expectations. Does this seem daunting? Don’t worry, our knowledgable vacation rental management team is here to help!
If you anticipate using the property as a vacation home for yourself and friends or family, then long-term is likely going to be off the table, as a tenant will be occupying your home. However, if consistent and regular income is your goal, then long-term rentals will be the best route for your expectations. They provide consistent revenue, typically show less wear and tear to the home, and pay utility bills.
If your home is simply an investment and you are looking for the best return on that investment, then short-term rentals will be your best bet. Short-term rentals take advantage of current demand and occupancy, which can lead to higher rental prices.