Are Short-Term Rentals Profitable?

Who doesn’t want to own a weekend getaway spot with the freedom to rent it out when they’re not there? The real question is: Are short-term rentals a profitable strategy? ⁣
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The short answer is: Yes! If you can swing it financially and weather the constant flow of laid-back, sometimes unpredictable vacationers in and out of your personal vacation spot, short-term rentals can turn a substantial profit. However, before signing on for the life of a property manager, you'll want to consult an agent who knows that particular market and can advise on critical business aspects, including location, property maintenance, and upfront costs. ⁣
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Keep in mind that you’ll enjoy some added tax benefits in addition to your boost in cash flow. Because short-term rentals operate as a business, you’ll only pay taxes on the profit and can readily deduct expenses like furniture, streaming subscriptions, utilities, and more. ⁣
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Do you want to take a peek inside some of the hottest rental properties in our market? Contact us today - we'd love to show you around!