Why Short-Term Rentals?
When you rent long-term, the hassle of interacting with new visitors on a regular basis is eliminated. The anxiety of giving up your properties and relinquishing control for as long as a year is non-existent when you opt for the short-term path.
There is a significant difference between long and short-term rentals when it comes to the ultimate variable for every investor– earning potential.
The reality is that buying in bulk is always less expensive, and long-term rentals are essentially the wholesale market. Because vacation rental stays are short-lived, one-time expenditures are justifiable.
How much?
According to The Telegraph, short-term rentals may generate up to 30% more profits than long-term leases. There's a lot more room for growth, though. According to the same reports, a home that brings in $1,000 per month when rented long-term may generate up to $3,000 per month when leased for short periods.
That's right. This is more than twice the income. That's a difference of $24,000 per year!
Yes, short-term property rentals require more attention than long-term renting, but the additional revenue is well worth the effort, especially when Tofino is available to automate your activities and make the ownership experience completely hands-off.
There are great alternatives if you want to invest in Long Term Rentals but Tofino is on mission to: