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Updated about 1 year ago,
Short term rentals(Airbnb) vs Long term
I have inherited my stepfathers house as he just recently passed, and am working towards making this a rental/Airbnb...I am knowledgeable about all the pros and cons regarding each scenario (Airbnb vs LTR) ... however I would like to hear some personal stories about why you prefer one over the other....
My current situation in the house still has quite a bit of things in it. I have put the word out that a rental will be available in my area soon...I figure if I can't find anyone to rent to that I feel comfortable with, I will then choose to list as an Airbnb.
As I said I have extensively researched the pros and cons of each but this is what tops my list
Airbnb - house is more "accessible" to me, tenants will be gone quickly, can adjust prices/ I will be responsible for paying electric, etc etc, possible constant turnover with cleaning, worrying about keeping the 5 stars etc, possibly not consistent
LTR- more out of the picture, not as much frequent work needed with turnovers, guest can cover utilities, consistent $ / House not as accessible, chance of tenant not being the greatest, going through eviction process, getting everything that's currently in house out of the house(more of a rushed feeling)
I realize there can be more however this is what is currently on my mind. Would like to hear some personal experiences about why you like one over the other.