House Hacking: Short-Term Rentals for High Returns
So far, we've been talking all about house hacking, for long term rentals (12 months or longer) But there's another super profitable way to house hack: turning your properties into short-term rentals, like Airbnb. Now, Short-term rentals often have much higher rental income potential, compared to long-term rentals. But - they also require more attention and management, and carry a little more risk as well. Today we'll explore the benefits and challenges of short-term rentals, and what this could look like if you decided to use your house hacks for short-term rentals So some advantages: Probably the biggest benefits, and often the reason people do short-term rentals or Airbnb's in the first place, is the potential for much higher rental income. Unlike long-term rentals, with leases of 12 months or longer, short-term rentals can generate more rental income, because you are charging by the day, the week, or the month. There is such a thing as mid-term rentals, which are ty...
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