7 Reasons To Avoid Short-Term Rental On Your Property
Announcement posted by 360PR 19 Dec 2018
7 Reasons To Avoid Short-Term Rental On Your Property
By Bradley Jacobs – Boutique Property Agents
www.boutiquepropertyagents.com
The idea of putting your property on Airbnb sounds great in theory, especially if it’s in a desirable location. But while being a host can make you some quick cash, short-term rental services such as Airbnb might not be worth all the hype – at least not for the property owner.
Now, don’t get me wrong, renting out your property is not a bad idea. In fact, property rental is a smart way to get ahead, but perhaps consider the benefits of long-term rental and how by enlisting the help of a real estate agency or an experienced property manager, you could save yourself time and avoid the hassle of dealing directly with renters.
Here are some reasons why you should consider long-term rental:
About Bradley Jacobs:
Having leased and managed over 500 properties in the Hyde Park and City fringe, Bradley can confidently give you a rundown of the features of each and every residence in the area. Living and working around Hyde Park over the past five years has allowed him to experience first-hand the transformation of the Sydney City area and evolution from a traditional office workers suburb to the residential playground it is today.
He was recently named finalist in the prestigious Real Estate Institute of NSW Awards of Excellence for Property Management in 2018 and is proud to hold a 100% retention rate. With a background in Marketing, Brad brings a unique skill set to lead the Property Management division. His ability to match property and tenant is second to none, providing both landlords and tenants with the best results in the quickest time frame possible.
By Bradley Jacobs – Boutique Property Agents
www.boutiquepropertyagents.com
The idea of putting your property on Airbnb sounds great in theory, especially if it’s in a desirable location. But while being a host can make you some quick cash, short-term rental services such as Airbnb might not be worth all the hype – at least not for the property owner.
Now, don’t get me wrong, renting out your property is not a bad idea. In fact, property rental is a smart way to get ahead, but perhaps consider the benefits of long-term rental and how by enlisting the help of a real estate agency or an experienced property manager, you could save yourself time and avoid the hassle of dealing directly with renters.
Here are some reasons why you should consider long-term rental:
- Know the people staying in your home. While you may not know them personally, chances are property agents will find tenants with a good rental reputation, so you know your property will be looked after. It’s their job to find tenants for you, so you don’t have to worry about doing the work.
- Consistent rental income. Most leases are on average 12 months, so you can rest easy knowing you have steady rental income for that period, which provides both security and stability. On the contrary, short-term rentals don’t always guarantee occupancy which, depending on your situation, could put a strain on your financials.
- Peace of mind. Having an agent manage your property ensures it will be looked after and if any issues were to arise, you wouldn’t be left having to deal with them alone. Consider them a mediator between you and the tenants.
- Expertise. While it may seem obvious, property agents are skilled and experienced in property management. This means they can offer you advice when needed and can guide you in making the right decisions based on your circumstances and situation.
- Minimise legal risks. Airbnb might be against the bylaws of your building. Therefore, it could present the property owner with legal implications.
- Reduce dollars spent on repairs. Short-term rental could cause more wear and tear on items in the property, potentially resulting in more regular maintenance, and possibly costing more in the long run.
- No insurance worries. Many insurers regard short-stay holiday rentals as commercial use of the property. This means owners may not be protected by home and content insurance if something were to happen. Ultimately, this could potentially leave the homeowner financially vulnerable to financial loss.
About Bradley Jacobs:
Having leased and managed over 500 properties in the Hyde Park and City fringe, Bradley can confidently give you a rundown of the features of each and every residence in the area. Living and working around Hyde Park over the past five years has allowed him to experience first-hand the transformation of the Sydney City area and evolution from a traditional office workers suburb to the residential playground it is today.
He was recently named finalist in the prestigious Real Estate Institute of NSW Awards of Excellence for Property Management in 2018 and is proud to hold a 100% retention rate. With a background in Marketing, Brad brings a unique skill set to lead the Property Management division. His ability to match property and tenant is second to none, providing both landlords and tenants with the best results in the quickest time frame possible.