Why Short Term?
A short term rental is a home, apartment or condo that is rented for as little time as one evening up to one month. Usually, short term rentals are occupied for a few days at a time. Here are some benefits of buying and managing a short-term rental to provide homeowners with extra income, flexibility, and tax deductions.
- Earning Potential: Short term rentals can be extremely lucrative. As the property manager, you are able to raise prices as you see fit depending on the demand. If there a music festival, popular sporting event or convention in town, pricing can easily be doubled or tripled for that time period. Travelers expect to pay premium prices over holidays, special events or high-season, so you can make the bulk of your income during these times.
- Flexibility: Short term rentals offer the homeowner flexibility. If no one is staying at your property, you can use it for an impromptu vacation. You can also block off periods of time in the future when you know you will want to use your property.
- Tax Breaks: As a homeowner, you can deduct expenses like cleaning, maintenance, insurance, and utilities.
The above mentioned are just a few examples of why short term rentals can benefit you as a homeowner. Making use of an agency can even be more beneficial so that you don't have to worry about the paperwork and regular dealings with guests checking in and out. We at Evolve Property Solutions can assist you as a homeowner to make all the above possible. Contact us to find out how.