As a landlord, you can elect to rent your properties for any length of time. While some landlords thrive on multi-year rentals to loyal tenants, others experience great success in offering month-to-month leases. When you rent your properties, should you choose long-term or short-term leases?
Long-term rentals, like those that use an annual or multi-year lease, are a great way to rent your properties because you will have consistent income and less turnover between tenants. You won’t need to worry about slow seasons or busy seasons if your properties are all filled throughout the year. This can also make it easier to budget your business, as you will already know approximately how much rental income you will have over the course of the year. Long-term rentals are also often easier to manage. You won’t need to advertise as frequently or deal with frequent tenant turnover.
Short-term rentals that are month-to-month or even week-to-week are appealing to many landlords because of their revenue potential. In a popular vacation area, high turnover on a monthly basis could mean setting higher rental prices and reaping the rewards. Short-term rentals can also be easier to maintain, as you will be able to perform preventative maintenance at the property more frequently when the property changes tenants. You can adjust pricing in between tenants to also benefit from peak pricing. However, short-term rentals have more turnover, which means that you need to always find another tenant to replace the current one. A property management company can help to make sure that you can easily rent your properties.
How Should You Rent Your Properties?
When you work with an experienced property management company like All County Denver South, you can benefit from our guidance when determining whether short-term renting or long-term renting is best for your property. We can consult with you and use our expertise to help you make the right decision on how to rent your properties.
All County Denver South Property Management Can Make Renting Easy
All County Denver South Property Management is here to help property owners get the best return on their investment through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, call us today at (720) 664-4550.