Homeowners who want extra income may consider using their homes as short-term rental properties. However, there are responsibilities and challenges that come with this. Short-term rental platforms have specific requirements that hosts must meet, and it takes a lot of effort to meet those standards. You’ll also have to screen tenants, field issues, and handle repairs, among other responsibilities. There are also risks involved, including renting to rude guests, having your property damaged or stolen, and facing regulatory violations. Location is another key factor that affects rental income. If your neighborhood isn’t a popular travel destination, you may not receive many requests from potential renters. Ultimately, deciding whether to rent out your home or sell it depends on your individual circumstances. Talk to a local real estate advisor to make an informed decision.
Home for the Holidays: How To Stretch Your Budget in a Season of Inflation
Save money this holiday season without sacrificing style or comfort.
