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In our experience, we have transitioned from long-term rentals to Airbnb’s, and today, we will go through the pros and cons of short-term and long-term rentals to give you an overview of each type of real estate investment. We will discuss the profits and expenses of each type of real estate investment, and which one will be more suitable for you.
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We will break down the five major differences between short-term and long-term rentals.
Risk:
Long-term rentals are less risky than short-term rentals as it is almost guaranteed monthly pay.
Passiveness:
Passiveness means the amount of work that you need to do to manage the property.
In long-term rentals, the tenants usually take care of the property, and the effort needed is minimal.
On the other hand, in short-term rentals, you will be managing a business, and you need to dedicate a time of your day to manage each property.
Cost:
The cost of each type depends on the property, but as the short-term rental requires less down-payment, it could cost you less.
Predictability:
As the tenant has already signed a lease with a specific amount of money, so you will expect that amount every month. In Airbnb rental, you will not expect the exact amount you will make as the number of guests and the rate varies every day.
Income:
You will see that short-term rental is a significantly more profitable business model than long-term rentals. And we will compare the exact numbers for you at the end of the video...
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