Nowadays, more and more people are considering the possibility of renting out their homes on a short-term basis.
Is it a profitable investment? What are the benefits of short-term rental? What are its advantages and disadvantages? Can it be more advantageous than long-term rental? How to run a short-term rental without setting up a business? How can a professional rental management company help?
In this article, we will try to answer these questions and provide a comprehensive view on the subject of short-term residential rental.
Is short-term rental worthwhile?
Short-term rentals can be very profitable, especially in tourist cities or popular business locations.
With platforms such as Booking or Airbnb, owners can easily find customers for short stays. The income from such rentals can be much higher than for long-term rentals.
What are the benefits of short-term rentals?
Short-term rentals allow for flexible housing management, making it possible to rent for short periods without long-term commitments.
In addition, it can be much more profitable than a long-term rental, especially during the tourist season or when there is a high demand for short-term rentals.
Short-term rental - advantages and disadvantages
However, short-term rentals can have some disadvantages, such as the need for frequent cleaning and guest services, the risk of damage to the property or problems with neighbours.
However, if the landlord takes the right precautions and invests in professional management, these problems can be minimised. Using a rental management service, on the other hand, minimises the time spent organising the rental and looking after the flat.
Can short-term rentals be more profitable than long-term rentals?
Depending on the location and the specifics of the market, short-term rentals can be more profitable than long-term rentals.
Particularly in tourist cities or popular business locations, prices for accommodation can be up to several times higher, which translates into higher income for the owner.
Short-term rentals - tax obligations
When using platforms such as Airbnb or Booking.com, renting short-term in Poland is considered to be the provision of accommodation services. This may involve the need for a business entity. A more detailed guide on how to account for short-term rentals can be found by clicking here.
However, it is worth bearing in mind the tax obligations and regulations for short-term rentals in your location.
To what extent can a professional rental management company help me?
A professional rental management company can help with many aspects of short-term rentals, from marketing and promoting the property, handling bookings and communicating with guests, to managing cleaning and maintaining the property.
By using the services of such a company, the owner can be sure that his or her flat is in good hands.
In summary, short-term rentals can be a very profitable investment, especially in tourist cities and popular business locations.
However, it is worth considering your options carefully and considering using professional management to maximise the potential of this form of investment while saving your time. Contact us to find out more about how we can help you with short-term rentals.
