Find Short-Term Rental Investment Homes

What are the different types of short-term rental properties?

There are many different types of short-term rentals. Apartments, condos, and houses can be rented out for a few days or weeks as vacation rental properties. There are also hostels and bed and breakfasts that offer short-term rental opportunities for those who want to travel, but don't want to stay at a hotel.

However, the market if moving to accommodate those profiting from ventures such as Airbnb. The renters are more reliable, more affluent, and the market is just taking off.

How do I find a good short-term rental property?

1. A good place to start might be putting some thought into the size of the portfolio you can start with. For us, we can base the loan and amount of properties based on it’s income. So you are not limited with the number of properties you can get a loan for with us but you should consider your budget and resources to manage the properties.

   If you are just starting out, you may need to decide if you want to rent out an entire house, just one room, or even guest houses & cabins. You have a lot of options to narrow down depending on your portfolio size and the amount of time on your hands.

2. The next step in finding a great short-term rental property is to decide on the type of property you want. Are you looking for fully furnished luxury apartments, or would you rather rent out homes that are more budget-friendly?

3. The next thing is knowing the location of where the property is located. Do you want to specialize in beach-front property or do you feel your lifestyle is more suited to desert or mountains? You may be living in one or several of them from time to time or at least visiting them to manage so you should be happy with the landscape.

4. Know the reason people are renting from you. What local attractions are drawing in customers for you? You should know this so it's easier for picking out a home that will meet your renter’s transportation needs, entertainment, local attractions, etc.. You can pick areas that are walkable, bikeable, or near public transportation so that it's easy for you to get around when exploring around town.

5. Consult your mortgage agent, we don’t want you in a property type with a bad income track record. At Rental Home Financing, we will hold your hand through the process to ensure we future-proof your investment.

Best practices for finding quality short-term rental investment properties:

Do your homework! Research the area where you plan to buy and feel confident in your decision. You may also want to get a referral from a friend or family member who has stayed in the area before.

Consider visiting the place for a day or two before making your final decision. It will give you an opportunity to scope out the neighborhood, get a sense of what amenities are available and familiarize yourself with the local attractions. Short term renters are not renting from you because they like your home, they are renting from you because it’s the best home near where they want to be. And finally, contact us, call 888-375-7977 or apply online now today for a free consultation.