Yes, you can make a lot of money with short term rentals.
But what type of Airbnb should you set up?
Should you offer a traditional Airbnb / vacation rental (which are considered Short Term Rentals) or an Extended Stay option (also know as Long Short Term Rentals or Long Shorts)?
What’s the Difference
If you want to make a lot of money serving people looking for a few overnight stays, then a traditional Airbnb or vacation rental is for you.
If you want to make easy money serving business travelers on long term assignments and people looking for temporary housing, then you’ll want to set up an extended stay rental .
Why Extended Stay Rentals are Better
#1 No Extra Insurance is Required for Extended Stay Rentals
#2 No Extra Licenses or Extra Taxes Are Required for Extended Stay Rentals
#3 There’s Less Competition for Extended Stay Rentals so You Can Charge Better Rates
#4 Stays Longer that 30 Days are Typically Always Allowed Even When Airbnb is Frowned Upon
#5 – Less Churn and Stress with Extended Stay Rentals. You won’t catch “Host Fatigue”.
#6 – Monthly Rentals are Less Taxing on Your Neighbor’s Nerves. They make the neighborhood more prosperous.
#7 – Better Income Tax Treatment by Filing a Schedule E (and not a Schedule C).
#8 – A Near 100% Guarantee that Your Place Won’t Be Used for a Wild Party.
Extended Stay Rentals are the Future
Have you traveled through Europe? Did you notice that furnished rentals are the norm? That trend is taking hold in the United States as well.
That’s a fact.
The only question is… “will you be the first or last person to start?”
I’d love to help you get a jump start.
And let the games begin!