The Future of Short-Term Rental Management
https://www.realpage.com/blog/future-short-term-rental-management/
|Jul 16, 2019
Welcome to property management done right.
As a property owner, you are hoping for the perfect tenant who will take care and treasure your property as if it were their own home, especially when someone plans to stay in your place on a long term basis. But considering the time you will need just to thoroughly screen every potential tenant, it can be a very long and tedious process. You might end up spending more time and capital just to find a decent tenant and less on earning a profit. Renting out your property on the short term basis, on the other hand, would relieve your stress on finding the best tenants for your place, is less of hassle and delivers BIGGER profits.
It has been one of the biggest risks with rentals the traditional way and one of the most burdensome and unpleasant tasks to evict a bad tenant. A delinquent tenant hinders your profit potential and places you at a higher risk for lower rental returns. No landlord wants their place to be rented by someone who does not follow the terms and conditions agreed upon. When using a long-term rental plan, you might end up with your place remaining vacant for a long period of time due to the long term neglect of the property and expensive repair issues.
There is a large difference between short-term and long-term rentals when it comes to monitoring the proper care of your property. In a short-term rental, you can regularly check everything in your property upon the occupant's departure - to make sure your property remains in good condition and that all your belongings are in tact. With short-term rentals, you can regularly observe whether or not everything remains in good condition and in proper working order. This vigil in preventative maintenance allows the property owner to save a ton of money in the long run on expensive, neglected repairs. Long term tenants are usually not cooperative concerning frequent property checks, inspection and upkeep.