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10 Reasons To Short-term Lease Your Apartment Whilst You Travel

10.2022
10 Reasons To Short-term Lease Your Apartment Whilst You Travel

Keep the money coming in even you are away

 

 

Planning on taking a trip? Why not have your apartment generate an income for you whilst you’re away. We have listed our top 10 reasons as to why you should consider renting out your apartment whilst you are away.

 

  1. Boost your income

The biggest perk when listing your apartment for rent when you travel is that it provides you with a passive source of income. The extra income can be used to pay off your mortgage or bills or put towards your trip. It requires minimal effort from your side and ensures a source of income whilst you’re away.

 

  1. Date Flexibility

By renting your property to short term clients, you have the flexibility to choose when guests stay. You can schedule time for yourself or your family to stay there by simply blocking out dates on your rental calendar and you can ensure there is always a tenant there when you take a trip yourself.

 

  1. Less consistent wear and tear on your property

Compared to having tenants staying full time, using your fittings and furniture, guests will be staying for shorter periods of time. It is also more likely that your guests will be out exploring the new city they have arrived in and not residing at home like a long-term tenant would. Putting your home up for short-term leasing when you travel means you don’t have to commit to anyone staying there for long periods of time and it is always available when you return home.

 

  1. Tenant flexibility

I’m sure every landlord has had a tenant at some point they would like to forget about for a myriad of reasons. When you rent your apartment out in the short term whilst you take a trip, you can ensure you never approve anyone that you would rather not stay there. Screen guests, set your own rules and ensue you are always comfortable with who is staying there when you’re away.

 

  1. Property Maintenance  

The flexibility of your rental calendar means you can set aside time to review your property as well as complete any maintenance tasks that are required. Gaps between tenants means the property can be deep cleaned and maintained as needed for when you return back from your own trips.

 

  1. House-sitting service

If you have ever traveled and come back to a musty apartment or mold spurs from moisture build-up, this will be important to you. By having someone else stay in your apartment whilst you’re away, fresh air will be flowing and you will immediately be made aware of anything that requires maintenance whilst you’re not there.

 

  1. Revenue optimization at peak times

When you rent your property out in the short term market, you are able to set your prices to take advantage of any increases in demand for key holiday periods and large events. Any large influx of visitors coming to Dubai means accommodation prices will increase accordingly.  During peak seasons, your potential income increases dramatically. You can plan your trips around key city events to increase your earning potential and ensure you are receiving the maximum benefit from your listing.

 

  1. Furnished apartments attract higher rental fees

Following our previous point regarding the time of year, furnished apartments are also able to command a higher rental fee. Unlike long term apartments, short term properties are always rented out fully furnished. The number of additions you provide and the quality level of the amenities within the apartment will reflect your earning capacity.  A property with practical amenities and quality, stylish furnishings will allow for the largest earning potential.

 

  1. Property Management companies can take care of everything

Often a reason people do not want to rent out their properties whilst they’re away is because of the extra hassle when you already have a jam packed to-do list before and during your trip. Property management companies – Such as us a Frank Porter can take care of everything. You set the rules and we will implement them and take care of all guest relations whilst you’re away. You can have your property earning money without lifting a finger.

 

10. Your property will not be empty

By using a professional service and screening your guests, you can feel more comfortable knowing your property is occupied whilst you travel. Sadly, empty properties can become a target for robberies and damage. By renting your apartment out to trusted tenants you will be reassured that someone is taking care of your apartment whilst you’re not there.

 

 

If you’re considering renting out your apartment in the short-term whilst you travel but don’t know where to start, Frank Porter can help. We provide a free home evaluation, including running a pricing algorithm to show you your potential rental income. Please visit Frank Porter for more information.

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