Are you considering listing your property as a short-term rental? More and more homeowners are looking into the risks and rewards associated with offering up their properties for rent on a short-term basis. Like any property venture, success lies in doing your homework, asking for advice, and trusting your instincts.
In this blog we list the pros and cons of running a short-term rental, as well as our top tips to make sure your venture is consistently successful.
There are a number of reasons why people have the need for short-term rental properties:
Ask each of your occupants to consider leaving a review of your rental property when they leave. Each positive review goes a long way to establishing your reputation and helping you find good tenants consistently.
As the property owner, be sure to tend to the concerns of your tenants the way you would if they were on a longer lease. Treat your tenants like clients, and make the effort to address all valid concerns punctually.
A short-term rental will require more attention and upkeep than a regular lease, as more occupants will be passing through the property more often. Be sure to arrange post-occupation cleaning, and monitor the state of things like fixtures, plumbing, door hinges, cracks in walls or tiles, appliances, carpets, mould and mildew, etc.
Even though your property is a short-term rental, it often entails more time, effort, and paperwork. A professional property manager will see to all the admin, communications, third party dealings, and day-to-day management on your behalf.
Short-term letting happens to be our speciality! Our experienced property management team would love to partner with you to help you manage your first short-term rental property. Contact us today to set up an introductory meeting.