Are you unsure what type of rental property to invest in? There are short-term and long-term rentals, but it can be difficult to determine which type of rental will suit your real estate investing strategy.
Examples of short-term rentals include AirBnBs, traveling nurses, and even college students. Longer-term renting experiences might be year or two-year-long leases that secure a tenant for a longer period of time.
Whichever you decide to choose will depend greatly on your house type, location, and investing strategy. For example, if your rental is located close to a hospital, you might consider furnishing it and renting it out to traveling nurses. College students, too, might be on short-term leases depending on the amount of semesters they stay for school.
For long-term leases, tenants who want to secure their rental for a year (or even two!) can be just about anyone. Tenants living in cities, for example, might want to ensure they have living quarters for a long period of time to avoid moving around a lot.
In this video, real estate investor Dan Kohan, discusses the differences between short-term and long-term rentals.
Difference Between Short-Term and Long-Term Rentals
Listen to The Real Estate Pod
All content is available on YouTube and released as The Real Estate Pod, available on Apple, Stitcher, Spotify, and most places you listen to podcasts! You can also check out our videos on our blog.