Do you know all the downsides to renting to long-term guests for stays over 30 days? If you haven’t really thought it through before - there are quite a few. Everything from the legalities and taxes you will owe to the way you manage your property change. Long-term stays are NOT well suited for all short-term rentals and markets. But on the flip side, there are a lot of benefits!So before we decide if we want to attract long-term stays, we need to truly understand if having long-term stays will be to our advantage…So this week, we will dive into this discussion and talk about:
- Pros of accepting long-term guests
- The downsides
- The legalities (it is different)
- Management Changes
- Are you leaving money on the table?
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