Benefits of Short Term Rentals: What You Need to Know

Benefits of Short Term Rentals: What You Need to Know

It has been two years since the pandemic changed the way we live. After a temporary halt due to travel restrictions, more and more people traveled and went for their long-awaited vacations. For safety and hygiene reasons, guests preferred booking short term rentals, than motels and hotels. Short term apartment rentals have everything they need  - a kitchen, living room and even a washing machine.

If you’re searching for an investor on the lookout for the next “it” investment, you should definitely consider owning a short term housing for rent. Read this article to learn more about short term rentals and how investing in them can benefit you.

What are Short Term Rentals?

Benefits of Short Term Rentals

Wear & Tear

In long term rental, the house has visible signs of wear & tear by the end of the contract due to overuse. With short term rental apartments, high turnover means your property, even furniture is not overused, thus, reducing depletion. This also means that your maintenance costs will be lower, since not much fixing is needed or there’s less work to be done around the house.

In between occupants of your short term rental, you can perform property maintenance. This makes downtime productive and no maintenance work to interrupt your guests during their stay. Even without fixing the property, you can prevent unnecessary damages with a routine check.

Prospective Income

Short term rentals are lucrative sources of income. If you’re a property owner, listing your home for rent will yield high returns. You can set your own rates according to your needs and demands. You also decide the season and time. These reasons alone prove that high flexibility and high earnings come hand in hand with this type of investment.

If you travel a lot for work, having short term apartment rentals is an advantage,  because you can rent your property out for long periods of time as you wish. It is a passive income you can simply do with the help of property management specialists.

Be part of a Community

Apart from the high return potential, you can also be a part of a community or a group as a short term rental host. You can meet other people, usually travelers. Use this opportunity to gain new friends through giving advice on the best destinations in town, or even hacks to make their stay as comfortable as possible. Treating your guests with respect and kindness begets the same. This social benefit is probably the most rewarding of them all.