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Updated almost 5 years ago on . Most recent reply
Hybrid Rentals- Experience, Advice, or Thoughts
I'm curious to hear from people who have experience with what I'm calling a hybrid rental (part traditional long term/ part STR). I'm thinking like a duplex where half is a long term rental and half is an STR. Or perhaps a rental home with an existing ADU kept as an STR. I stayed at an Airbnb duplex in Salt Lake where half was also a long term rental.
I am fortunate to have a good amount of time off, and lately I've been intrigued by the possibility of having a rental in an area I like that my wife and I could also use occasionally (hence portion as STR) on vacations.
If anyone has experience with rental setups like this, I'd like to hear how it went. What considerations are there? What worked or didn't about the setup? Etc.
Most Popular Reply
Thanks for the input @Nathan Gesner I know that I had done some cursory research about initial setup and maintenance costs for things like you mention such as furnishings, utilities, etc. for the STR. As I was kind of saying in my reply to Dan, I liked the idea of a duplex or rental with an ADU to attempt to avoid in part what you're describing which is that the rental isn't really function fully as an LTR or STR. Like with a duplex, I was thinking the LTR half would be rented unfurnished and would provide stable income with less involvement, and then the STR would be furnished and would see much more variation in income with more hands-on work, but would allow my wife and I to use occasionally.
This idea for me is only in the initial brainstorming stage, and I appreciate the input.