What is an STR?
STR's or Short Term Rentals are growing and all kinds of people are getting in on the action. Short term rentals can return 2 to 3 times the revenue of a long term rental but they do require more care a feeding. If you have thought about getting into the short term and vacation rental business, now is a great time to do it! Just make sure you check your local restrictions and licensing requirements before you invest any time or money.
The short term and vacation rental business is a fast growing business so there is ample opportunity for you to jump in and start making money. Travelers and vacationers are looking for more than a hotel room with a pool and exercise facilities. They are looking for an experience and unique place to stay weather they are on business or pleasure. I'm sure you can relate. Would you prefer to stay in a multistory square box with a bunch of other strangers or would you like your own unique place to stretch out a relax? I have stayed in a number of short term rentals and each one has been an enjoyable experience. Some better than others, but each one was unique and let me learn something new about the area and people.
If you have thought about getting into the short term and vacation rental business don't wait. It's a great time to get started. And with the way the stock market has been lately it wouldn't hurt to diversify and put a little money into real estate. If you're not sure what to do and are looking for some help on how to get started, feel free to contact us and we will be happy to help you out.