The short-term rental market isn’t always as simple as it might seem, and if you’ve recently begun your real estate journey then you might have found this fact out the hard way. While short-term rental has many advantages over long-term rental, it nonetheless comes with a handful of its own unique complexities and problems. Today, we’ll be taking a closer look at the difficulties with running a short-term rental property and why a short-term rental management company is the best way to live your landlord's dreams while staying stress-free.
Keeping On Top Of The Market
While the real estate market as a whole is always in flux, if you want to see a microcosm of that flux then look no further than the short-term rental properties market. The cost of short-term renting can change drastically from week to week as the value is tied both to the economy and to seasonal trends.
The solution to this problem is short-term rental management. A short-term rental management company takes responsibility for tracking the market and keeping your prices at the best possible balance between competitive and profitable.
New Guests Every Week
For many people, one of the real downsides to running a holiday home/airbnb is the need to constantly meet and interact with unfamiliar people. While some outgoing landlords enjoy this aspect of the business, for many it quickly becomes an unnerving guessing game as you try to eye up your latest guests and hope that they won’t cause any trouble.
The reality is that guests will vary a lot and that if you want to feel a sense of stability in your everyday life then letting a short-term rental management company handle things will save you a lot of stress in the long run.
Let Your Properties Run Themselves!
Ultimately, the real benefits of short-term rental management come from the plain and simple fact that your properties will now be running themselves. Not only will this save you time but it will likely also save you money.
The best short-term rental management companies are experts at getting the best value and maximising your profits to such an extent that the new income often exceeds what they cost. Put simply, while someone else is now taking a slice of the pie, the pie has grown an order of magnitude bigger.
And if you’re really looking to take your investments to the next level, the added time will allow you to explore more real estate investment options in order to expand your portfolio and improve your business. There really is no downside to hiring short-term rental management!
