LTR vs STR in Lehi, Utah

[Chase Kunz]

Does anyone have experience with short-term and long-term rentals near Lehi, UT?

Newbie here! My wife and I just bought a place and are planning to live in the basement (2 bed, 1 bath) while renting out the main floor (3 bed, 2 bath.) We are trying to decide if it would be worth the effort/risk to try a short-term rental such as AirBnB or stick with a regular long-term rental. Our house should accommodate either with plenty of off-street parking, a separate basement entrance, and is an owner-occupied residence for the city STR compliance.

I think Lehi has decent potential for short-term rental returns since it is at the center of the growing "silicon slopes" tech sector and within an hour of many ski resorts. It is also between Salt Lake City and the college towns of Orem and Provo.

We are ready for the extra management that comes with hosting a short-term rental as well as the extra cost for furnishing it, so long as the added income can justify it. I'd love to hear any advice/numbers from those that have switched between STR and LTR, especially if they are in a nearby market.

Thank you!