Short Term Rental Properties

Short term rental of residential property typically refers to duration of renting of typically 1 day to weeks.  

Short Term Rental potential of the property depends upon the location of the property, the facilities associated with it, HOA fees, how well furnished, how many sleep, proximity to marketplaces and concentration of centers of recreation and entertainment etc.

A Short-Term Rental property has high degree of sensitivities in competing with hotels, motels, hotel condos, and resorts to give best of its potential occupancy and rental performance.  

Sensitivities of Short-Term Rental Properties

• The bookings of the property are done online through vacation rentals services available from Airbnb.com, VRBO.com, AirDNA.com, and FurtureStay.com.   
• If property has pool to add to recreational value.
• Number of bedrooms, baths, and sleeping beds.
• How well the property is furnished to provide comfort of expected vacation level.
• Turn-over of tenants at high expected standard.
• Availability of community parking spaces of the HOA and street parking.
• Proximity to places of recreation and entertainment.
• Hospitality services of Short-Term Rental agent.
• Insurance of property and tenants.
• Security features in the property to protect property and the tenant.
• Zoning boundaries and restrictions of local county government for such properties.
• Bylaws of Homeowners Associations or Condominium Associations which impose restrictions on usage of property.
• Typically, there are common facilities and security features as part of Homeowners Association for vacationers, thus having much higher HOA monthly fees.

Short Term – Rental Properties Management

Typically, the supporting sites for Short Term rentals can give steady flow of tenants. In our view, it is efficient to engage services of a Real Estate Professional Properties Management broker, who manages the properties and engages approved Rental Agents of sites given above for steady supply of tenants. Not only they have incentive to find tenants for you, but will also take on legal issues with tenants. They generally have maintenance crews to attend promptly to properties’ complaints when they come up. Keeping tenants happy in your properties means cash flow. Vacancies and turn overs are generally expensive.