One or two year lease or Airbnb

[Tom Thomson]

just purchased an updated three bedroom two bath ranch with two car garage nice back patio with hot tub and although not on Morris reservoir it is only three lots over from a deeded boat dock that the tenants or Airbnb customers would have access to.  On a long-term rental basis it would probably rent for $1800 per month but there is a very similar home just five houses away that somebody has listed as Airbnb and rinse out for $275 per night. Trying to decide which would be best to do. Obviously on a long-term rental the tenant would be responsible for all the utilities lawn care and would be much less management intensive as I would have one person in there for the entire one or two years.  Due to the nightly rental potential Airbnb sounds like it could produce quite a bit more income but obviously I would have to pay for all the utilities lawn care cable and Internet as well as having it cleaned each time a customer left. In addition as a one time expense I would have to furnish the entire house.  Due to the unique offering of the lake access in proximity to Rudolph Music Center, Grand park and the fact it has access to Morris reservoir I’m interested to get peoples opinion on What do you think would be the better play.