What Is a Long-Term Rental and Is It a Good Fit for You?
Do you know what defines a long-term vacation rental? How is it different from the usual weekly vacation rental? Do you ever wonder if it may be the right choice for you and your family? If you need some clarification on exactly what a long-term rental is and its advantages, then you'll find the answers you need right here.
What is the difference between a short-term and long-term rental?
Long-term rentals make great transition points for those who want to get to know an area better than one would from just vacationing or visiting there. Long-term rentals are also a good option for those who need to relocate for their job, military placement, or are in the process of retiring and aren't ready to commit to home ownership.
What are the benefits of a long-term rental?
Well, the first step in answering that question is knowing if you're coming from an real estate owner or investor's perspective or if you're viewing this from a renter's perspective, as the answers differ.
We've broken it down into two groups, so whichever camp you're in or may be part of in the future, you'll have the answers you need.
- Consistent cash flow: Because a longer-term tenant pays a consistent rental fee on a weekly or monthly basis, landlords can count on more consistent cash flow, when compared to the fluctuations of a short term rental.
- Utility bills paid: If you have tenants occupying your long term vacation rentals for a month or longer, then oftentimes utility bills can be passed on to the guest. This can create a significant cost savings in certain seasons, such as during the summer or winter.
- Less Turnover When the rental term is relatively longer throughout the year compared to short term rentals, this means you have a fewer amount of people coming in and out of your property. This means having to do less paperwork, less cleaning, and less vetting of potential tenants. Overall, this minimizes the need for day-to-day management.
- More Time: More time in a place you love.
- Better Opportunity: Opportunity to experience what a destination is like over time and different seasons.
- More Familiarity: Time to get to know the local neighborhood and surrounding communities better.
- Transition Point: A good middle step between vacationing and owning.
Long-Term Rentals in Emerald Isle, NC
Maybe you've spent some vacation time in Emerald Isle and want to make it a more permanent part of your life. A long-term vacation rental is an ideal option for you until you decide whether or not you're ready to purchase a beach home. The availability is continually changing based on what's on the market and the season, so check back often or contact Sun-Surf Realty for more information.
Do you have family or friends that are looking to spend more than just a week or two once a year in Emerald Isle, North Carolina?
Please share this post with them!