Real Estate Investment
When it comes to purchasing a real estate investment, everyone knows there are a lot of variables to consider. When you add the additional variables in finding the right rental property, or better yet, short-term rental property, it is important to find the right realtor with the proper experience to help. We will admit that we aren’t experts when it comes to everything, but we are experts when it comes to finding and investing in rental properties.
Dynamic pricing structure to maximize your revenue
Best staging photos in the valley to make your place stand out
Control over booking calendar to come and go as you please
It’s much easier finding a long-term rental versus a short-term rental (STR), but short-term rentals come with a few major added benefits. The first is that you can still use your STR. When you put a long-term tenant into your unit, you are locked out of the unit, unless you have permission, and you, therefore, have no idea what kind of condition the tenant is keeping it in. This leads us to the second major benefit. As a STR, your property is constantly maintained and kept in “for sale” condition. If something breaks, it gets fixed and the unit is professionally cleaned before and after every guest, rather than accumulating dust and a stack of maintenance issues. Last but not least, is that the cash flow, cap rate, and ROI are much higher with a short-term rental versus a long-term rental. You’ll recoup your investment faster and your bottom line will grow as the industry grows.
A few of the additional items to consider when looking into a short-term rental property are what are the local laws regarding rentals in this area, what is the neighbor situation like, what are typical occupancy rates, nightly rates, seasons, photography potential, amenity potential, etc.