WHAT IS A SHORT TERM RENTAL?
WHAT KIND OF PROPERTY?
A temporary lease or short-term lease refers to the length of time a furnished place is rented for, ranging from one night to several months, so that the various tenants do not live there for an extended period of time.
WHAT OBLIGATIONS?
The landlord must rent out their place equipped with a minimum of furniture: bedding, a refrigerator, kitchen utensils, and a gas stove. Although this furniture is the only obligation, we advise you to offer more additional services: towels, internet access, television, desk, etc.
WHAT LEGISLATION IS REQUIRED FOR SHORT TERM RENTALS?
Short-term rentals are regulated by each city. For example, for a property in Miami, the rental must be licensed by the state of Florida. You may find great information in this article by 2nd address
WHO IS THE VACANCY RENTAL FOR?
Temporary rentals are mainly intended for professionals on business trips, but also for tourists on vacation or even for people in transition (for example, moving abroad, performing a civic service or returning home).
WHY CHOOSE TO RENT ON AIRBNB?
SUPPLEMENT YOUR INCOME
Short-term rentals are a reliable source of revenue. In 2018, the number of overnight Airbnb stays is predicted to be 187 million. Why not considering putting your accommodation on this platform?
MAKE A PROFITABLE INVESTMENT
Contrary to traditional renting, short term renting allows you to quickly make your real estate investment profitable and to realize a consequent capital gain on each night sold.
AVOID THE ABUSE OF TRADITIONAL RENTALS
Renting on a daily basis to different guests is very different from renting for a long period to a single tenant in terms of the wear and tear of your rental.
MAKE A VACANT HOME PROFITABLE
As a landlord, you probably manage a multitude of rental apartments. The short duration would allow you to continue to make your apartments profitable during off-peak periods.
BENEFIT FROM AN INTERESTING TAX SYSTEM
With short term rentals, you can rent as a private individual or a professional. It’s easy to make money with Airbnb and avoid taxes.
DIFFICULTIES IN MAKING MONEY WITH AIRBNB
Short-term rentals are a discipline in their own right. From the online reservation to the end of your stay, you will have to organize everything to manage your time and money as well as possible.
ACCEPTING THE UNEXPECTED
Many customers over short periods of time require constant and quick responses to their inquiries.
ORGANIZE AND OPTIMIZE YOUR TIME
You need to adapt to the schedules of your traveling guests.
MANAGE DAMAGE RISKS
Security deposits are effective guarantees against incivility.
CALCULATE ITS PROFITABILITY
A short term rental must cover at least 2 times all your expenses.
GET A HIGHER SCORE
4/5 is the minimum score to obtain for your property to make money on Airbnb
MANAGE THE DIFFERENT PLATFORMS
Be present on all OTA websites (Airbnb, Booking, Expedia, etc.)
MANAGE LITIGATION
Some clients will be demanding and excessive. Avoid bad comments.
STAY INFORMED OF REGULATORY DEVLOPMENTS
Taxation for the short term is advantageous but hard to apply.
