Planning on investing in holiday rentals? Before you get too carried away, it can be extremely valuable to consider all of your options well in advance, so that you can safely and realistically get the best out of your property investment plans.
Unlike long term rentals, short term rentals have a very different approach. For future investors, this buy to let property model offers many enticing benefits, from a higher return on investment to reduced overheads. That's not to say that the short term market is always reliable however. Your overall success depends on numerous factors – not least your ability to manage and market your property effectively. With that said, taking the time to do some plotting and planning well in advance can make a huge difference in the long run.
Before You Invest in Holiday Rentals…
Some of the things that you should always carefully consider long before you begin to hunt for the right holiday rentals property options include the following:
The good news is that in areas such as Cape Town, holiday rentals are showing outstanding growth as an investment option. As tourism numbers continue to stabilise, and platforms such as Airbnb continue to offer homeowners a way to enjoy the rewards of short term rentals, this means that smart investors will be able to enjoy plenty of returns… provided they stay savvy and do the essential legwork before getting started, of course.
To learn more about transforming your property into a guest-worthy establishment, contact Totalstay today and we will arrange to set up an evaluation on your holiday rentals property.
