A common question we get at North County Property Group is what type of rental should I have for my investment property, long-term rental or short-term rental? Long-term rentals involve annual leasing on a home that is normally unfurnished. Short-term rentals, sometimes called vacation rentals, are homes that are furnished with all utilities and amenities provided by the owner, rented to incoming guests while on vacation. In this FMF episode, Bob offers two differing profiles of success factors pertaining to both long-term and short-term rentals. He also suggests that if you take time to calculate the overall finances of both approaches, it is very likely to come out in the wash as a 50/50 proposition.
For more information on this topic, see Bob Preston's blog post, and the property owner profile table he offers and refers to in this episode: https://www.ncpropertygroup.com/blog/long-term-or-short-term-rental.
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