As an investment opportunity, which one do you think is better – a short-term or long-term property rental option? While they both have their own benefits, choosing between the two depends on your needs and financial situation. Long term rentals are a great opportunity to bring in a steady monthly income, while a short-term rental may produce greater returns, especially if you have a property in an area that is sought after.
Gumtrees gives you the benefits of short and long-term rental options below:
Short-term rental:
Gumtrees gives you the benefits of short and long-term rental options below:
Short-term rental:
- This option allows you to rent out your property for anything upwards from a month to 8 months, offering you a high level of flexibility.
- Also known as holiday rent, you can rent out your property almost year around, bringing in great revenue whenever you need it.
- With renters going in and out of the property, you are more committed to repair wear and tear before they become bigger.
- Frequent renters may transform from acquaintances into lifelong friends.
- A long-term rental usually requires less work than a short-term rental property as you do not have to continually promote your property to find new guests.
- Long-term rentals ensure you do not have to worry about logistics such as key collections, finding new tenants, check-ins etc. very often.
- If you decide to give your property out on a long-term lease, chances are that the new tenants will bring in their furniture. Thus, you can earn a quick buck without the need to furnish or bring in appliances.
