Gudie To Buying A Short Term Rental
When purchasing a short term rental especially for your first time there is some things you definitely want to know before you buy! Whether you're looking to buy a disney vacation home for you and your family to use part time or a property that will be used strictly as investment make sure you know all of the information below before you buy!
- Absolutely make sure the property you want to buy can be a short term rental- Believe it or not we have people contact us often about a property that they were going to put on Airbnb until they figured out that the city/HOA/ something else prevents them from doing it.
- Ask about financials and past performance- If the property was already a STR (short term rental) they may have clients already booked for after you purchase the home and that can be a great or not so great thing depending on your personal plans for the home.
- Have a plan on advertising- Are you planing to put the home on VRBO or Airbnb or is there a property manager on site that runs all the units/homes in the neighborhood.
- Who will be cleaning the property - You definitely want to have a good cleaner in place. You also want to make sure they can handle the dates / times you will need them.
- property management - In general who is going to be taking care of the financials and Tennant relations? If you're not doing this yourself then you want to absolutely make sure that if one of your guests/tenants has a problem in the middle of the night that someone can handle that issue.
- Location- Where you buy matters and sometimes its not always the closest property that rents the best. You definitely want to know what's close by so your guests feel safe and comfortable as well as yourself.
We have tons of experience with short term rentals and if you have any questions or would like to purchase one yourself give us a call anytime at (407) 907-0065