The real estate industry has been all a buzz about short term rentals lately. However, a lot of people don’t understand what exactly they are and how they can benefit a community and travelers. Generally speaking, a short-term rental is at most about 7days. However, this can vary depending on where the property is located. Most people are probably more familiar with sites like Airbnb or VRBO where people rent out their spaces for a short period of time. These sites have become very popular amongst travelers and there is a good reason for it. They tend to be on the cheaper side, can get you right where you want to be and most places come with a full kitchen, which means you don’t have to eat out three times a day while on vacation.
Buying a property for a short-term rental is also a great investment. It gives you the freedom to have a place of your own to get away to your favorite vacation spot, you can make money off of it and one day if it’s in a place you want to move to you can do that too! There are usually taxes and permits associated with having a short term rental, but these go to the communities that your property is located in and can have big impacts on the economy!