Over the past few months when meeting with new vacation home owners, I’m often asked what would bring them the most return on their investment: renting their house to a long term tenant or renting the house to guest on vacation. In this article I would like to address the pros and cons of both long [...]
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Long Term Vacation rentals have surged in popularity in recent years for many reasons, especially because they often offer more privacy and space for a lesser cost than hotels. With long-term rentals, the owner of the property rents out their accommodation on a long-term basis, receiving rent payments monthly typically. Another big plus for long-term Vacation Rentals is that the monthly utility costs can be charged to the occupant. With long-term renting, the owner often has less flexibility.
ReplyDeleteShort-term Vacation Rentals are rented to those looking to stay for a small period of time and leave. Holiday getaways, family vacations, and honeymoons are all instances where a tenant may lease your vacation property for a few weeks at a time. On the other hand, a long-term vacation rental is a more permanent living situation. Long-term vacation rentals are normally for those escaping seasonal weather for 4-6 months at a time.
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