Real Estate Investment: The Advantages of Short Term Rentals
Investing in property is an option we have all considered some point.
There are those who have chosen to take advantage of greatly reduced property prices and have moved to invest in a small city centre apartment.
Similarly there are existing property owners who, due to the burst in the property bubble, are reluctant to sell and prefer the option of renting out their property.
By responding directly to the market with the publication of online advertisements promoting your apartment, on a low cost website that targets high numbers of potential tenants quickly and at a low cost is seemingly the simplest solution.
However, the advantages do not outweigh the disadvantages of this approach.
Advertising on the web is ill-advised if you do not know how to manage a commercial property and if you are not fluent in the regulations that govern rental contracts.
To find oneself the victim of fraudulent activities is unfortunately a daily occurrence.
Furthermore, to secure what appears to be a higher rental income by avoiding rental income tax, you might decide to adopt the 'under the table' formula but should damage be done to your property or should the rent be withheld for whatever reason, you will have no legal rights.
Today there exists an alternative and effective option: it is sufficient to hand over your property for management by a company experienced in short term property rentals.
What are the advantages of this solution? Firstly, the publication of your property on industry specific websites tells the searcher that your property is reliable, while at the same time increasing its rental potential.
A property specialist has in-depth knowledge of the keywords used by online searchers to help them find the perfect apartment for holidays, weekends, or business trips.
The second advantage relates to the management of the property and its tenants.
Property management companies, specialised in the area of short term rentals, have systems in place that allow them to meet the needs of would-be tenants.
Professionals are equipped to deal with every eventuality and are in a position to respond immediately should maintenance work be required.
Additionally, a property management company has a team of industry professionals that range to from a customer service team that welcomes and assists guests to cleaners and chamber maids.
To be relieved of the responsibilities of property maintenance and tenant management is advantageous to the property owner, especially if you happen to live in another city or country.
From the point of view of administration, which is often the thorn in the property owner's side, this can be managed completely by commercial property professionals and this service includes: archiving of all registration records of tenants, legal protection of the property owner if a tenant defaults on payment or if a tenant chooses to seek asylum status while occupying your property.
The bottom line is that it is always the management company specialised in short term rentals that rents out the property, and collects rent from the tenant, increasing the property owner's security.
To engage the services of professionals with experience in short term rental contracts is the preferred choice for anyone who wishes to earn an income from their investment property while they wait for a good offer from a buyer.
There are those who have chosen to take advantage of greatly reduced property prices and have moved to invest in a small city centre apartment.
Similarly there are existing property owners who, due to the burst in the property bubble, are reluctant to sell and prefer the option of renting out their property.
By responding directly to the market with the publication of online advertisements promoting your apartment, on a low cost website that targets high numbers of potential tenants quickly and at a low cost is seemingly the simplest solution.
However, the advantages do not outweigh the disadvantages of this approach.
Advertising on the web is ill-advised if you do not know how to manage a commercial property and if you are not fluent in the regulations that govern rental contracts.
To find oneself the victim of fraudulent activities is unfortunately a daily occurrence.
Furthermore, to secure what appears to be a higher rental income by avoiding rental income tax, you might decide to adopt the 'under the table' formula but should damage be done to your property or should the rent be withheld for whatever reason, you will have no legal rights.
Today there exists an alternative and effective option: it is sufficient to hand over your property for management by a company experienced in short term property rentals.
What are the advantages of this solution? Firstly, the publication of your property on industry specific websites tells the searcher that your property is reliable, while at the same time increasing its rental potential.
A property specialist has in-depth knowledge of the keywords used by online searchers to help them find the perfect apartment for holidays, weekends, or business trips.
The second advantage relates to the management of the property and its tenants.
Property management companies, specialised in the area of short term rentals, have systems in place that allow them to meet the needs of would-be tenants.
Professionals are equipped to deal with every eventuality and are in a position to respond immediately should maintenance work be required.
Additionally, a property management company has a team of industry professionals that range to from a customer service team that welcomes and assists guests to cleaners and chamber maids.
To be relieved of the responsibilities of property maintenance and tenant management is advantageous to the property owner, especially if you happen to live in another city or country.
From the point of view of administration, which is often the thorn in the property owner's side, this can be managed completely by commercial property professionals and this service includes: archiving of all registration records of tenants, legal protection of the property owner if a tenant defaults on payment or if a tenant chooses to seek asylum status while occupying your property.
The bottom line is that it is always the management company specialised in short term rentals that rents out the property, and collects rent from the tenant, increasing the property owner's security.
To engage the services of professionals with experience in short term rental contracts is the preferred choice for anyone who wishes to earn an income from their investment property while they wait for a good offer from a buyer.
