Team Mortgage Mikes

Michael Bock and Theresa NeSmith

  • Home
  • About
    • About Us
    • Privacy Policy
  • Blog
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
  • Reviews
    • Read Reviews
    • Leave a Review
  • Apply
  • Contact

What To Know About Investing in Short-Term Rental Properties

March 10, 2022 by Team Mortgage Mikes

Investing in Short-Term Rental PropertiesMany people are looking for a way to diversify their investments, and real estate investing is a popular option. Some people might be interested in short-term rental properties. What is a short-term rental property, and what are the responsibilities of property owners? Learn more about short-term rental properties to figure out if this is a solid option. 

An Overview Of A Short-Term Rental Property

A short-term rental property is a rental property that typically has residents and renters for fewer than 12 months at a time. Many people believe that short-term rental properties are vacation homes and Airbnb-type properties; however, just about any property can be a short-term rental. This includes a condo, a townhome, or a single-family home. Typically, the owner of a short-term rental property doesn’t live in it but rents it out to people for a few days, weeks, or months at a time. 

The Responsibilities Of A Short-Term Rental Property Owner

There are many responsibilities that come with owning a short-term rental property. Many of them are similar to the responsibilities of owning a long-term rental property; however, because there is more turnover, these responsibilities tend to arise with greater frequency.

For example, short-term rental property owners need to screen everyone who applies to stay at the property. The property owner is typically responsible for utility bills as well, as the renters do not stay there long enough to develop a relationship with a utility company. Short-term property owners also need to keep a close eye on their records to make sure they keep track of their income and overhead expenses. 

Maximizing Income In A Short-Term Rental Property: Take Care Of It

There are several ways short-term rental property owners can maximize their income. They need to select a property that is in a favorable location with a lot of interest. Then, they need to take care of the property to make guests feel welcome. Purchasing some nice furniture, handling maintenance on time, and advertising the property on social media can drive up demand and interest. These are the best ways to maximize income on a short-term rental property. 

Mortgage Tagged: Airbnb, Investment, Short-Term Rental

Looking for something?

Mortgage Mikes Team

Contact Us


Michael Bock
Mortgage Loan Originator

CALL 727-457-6498

Michael NMLS #1749855 • Theresa NMLS #1996065

APPLY NOW  
GET A RATE QUOTE

Receive My Blog Articles to Your Inbox!

Connect with Us!

How can we help?

  • This field is for validation purposes and should be left unchanged.

Recent Articles

  • Getting A Mortgage When Self-Employed: What You Need To Know
  • Getting A Mortgage When Self-Employed: What You Need To Know
  • On Time, Every Time: How Being Late on Monthly Payments Can Affect Your Mortgage
  • What Is A Loan Contingency: An Overview
Equal Housing Opp

Previous Posts

Categories


1000 N Ashley Dr, Suite 1020
Tampa, FL 33602

Copyright © 2023 Team Mortgage Mikes  ·  All rights reserved   ·   Log In