Short-Term Rentals vs. Long-Term Leases: Which is Right for You?
Renting out property offers different approaches, primarily short-term rentals (like vacation homes) and long-term leases.
Short-Term Rentals
- Advantages: Higher nightly rates, flexibility in property use, and the ability to accommodate seasonal demand.
- Challenges: Requires frequent cleaning, marketing, and dealing with multiple tenants.
Long-Term Leases
- Advantages: Stable monthly income and lower turnover costs.
- Challenges: Requires a long-term commitment and stricter tenant agreements.
Choosing between the two depends on your financial goals, property location, and management preferences.
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