Are you thinking about a plan to purchase a property, list it on VRBO or AirBNB, and watch the money roll in. They say short-term rentals, often called vacation rentals, will be a breeze. While short-term rentals do ear owners 30% more than long-term rentals, there is still a lot you need to know. Here are three myts about short-term rentals:
- Myth #1 – All Properties Can Become Short-term RentalsThe ability to rent a property short-term is based on zoning and municipal building codes. Buyers must understand local regulations.
- Myth #2 – Preparing Properties for Renting Short-term is SimpleShort-term rentals, even turnkey properties, need to include all necessities. From purchasing durable furniture to kitchen supplies, preparing these properties for renters can be time consuming and expensive.
- Myth #3 – Common Knowledge is Enough to Operate Short-term Rentals SafelySafety measures need to be taken into consideration when renting short-term. This includes changing door lock codes after each guest, making sure smoke and fire detectors are in place, and more.
For more information, contact Penny at (206) 618-5123 or email me at Penny@TheOriginalPenny.com.
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