When you get clear on what a short-term rental is, you’ll see opportunity and potential, and know how to act on it!
Furnished Living Spaces Available to Rent for Short Periods of Time
In short, (no pun intended, LOL!) short-term rentals are furnished living spaces available to rent for short periods of time. You can own the properties, but you don’t have to. If you don’t own the property, you lease it through a corporate lease from the owner and then sublease it out to guests. These can be single units or multiple units. They can be apartments, houses, condos, cabins, a loft above a garage – you get the idea – lots of possibilities!
Reasons for Needing a Short-Term Rental
They can be leased for several days, weeks, or even months at a time. Your tenants can be one individual all the way up to big groups. You can cater to those who are traveling alone for a couple of days at a time (professionals or individuals needing to tend to personal matters in a different town), families seeking vacations or reunions, or corporations looking to do corporate events or retreats.
Good For All Parties
Short-term rentals are good for the property owner because their property is leased, good for you because you don’t have to outright buy the property, and good for guests because they get their need for a living space. Finding the right short-term rental will take some research. You’ll want it in a good neighborhood, good condition, and make sure it fits the needs of who you are targeting.
Not a Get Rich Quick Scheme
What short-term rentals aren’t is a completely risk-free get-rich-quick scheme. It will take some effort to find the right properties and some effort to make them attractive to potential renters. You will need to pay a long-term lease to the owner. You’ll also need to do your homework to make sure what you charge your tenants will cover your lease, any other expenses, and leave you with a profit.
Not a Personal Venture
This also doesn’t need to be treated as a personal venture. Real-time and money will be invested and you want to protect your personal assets. You will want to set up an LLC or a corporation.
Significant Results Fast
Short-term rentals are not an investment that you will have to sit on for years before you see a return. They are properties that with a little time and effort can be rented out QUICKLY! There will be the tasks of listing your properties and managing the bookings, but I walk you through this process step by step in my e-book, Short-Term Rentals.
With my help, you can see results fast! If you are ready to take that next step and all the secrets of short-term rentals, then download my e-book here.