A Real Estate Agents Tip on
How to Double you’re Profits with Short Term Rentals
Real estate property investors are always looking for ways to increase their rental revenues, new real estate property investors are looking for ways to get into the real estate property rental market and entrepreneurs are looking for self-employed jobs in order to leave their current jobs that they are unhappy with.
The real estate market with furnished rentals is for everyone!
If you are looking to slowly get into the real estate market or even to make some extra money, you can do that without even owning a property. As long as you have your landlord's permission, you may rent out that spare bedroom, your parking space if you are not using it, rent out your condo for one or two weeks if you are going away for that time or even rent your couch to a student for a few days. With the extra money, you could be living rent free or saving up for that down payment to purchase your first rental property yourself and get into the real estate property investment market.
For real estate property investors and real estate rental property owners, why not take that extra space, furnish it and then charge double the rent? Although you may not get double the rent for a one year lease, when breaking it up to smaller rental periods, such as one week at a time, the rental income will be about double compared to a unfurnished one year lease.
If you are you looking to change careers or work part time? Renting out furnished accommodations is a great way to slowly get into a new job. You can start by renting out your own home/apartment to see if you enjoy taking reservations, preparing the suite for your guests, tending to your guest's need and making new friends along the way. Should this be something that you are passionate about, you can increase the rentals from one suite to several suites by helping out others with their real estate rentals.
For all of the above methods, you will always want to ensure that you have a real estate agent on hand as a partner till you get a lot of experience, once you have that you can do it all on your own. They will be able to assist you with finding the appropriate vacant real estate properties that allow rentals and help you to understand rental laws that are specific to each building. Many real estate agents work directly with real estate property investors and therefore will be a great source when those real estate property investors need someone to help them with their real estate investment properties. At the same time, when you or a real estate property investor is ready to sell that property, they will be able to sell it to another real estate property investor and the furnished rental agreement can continue on.
If you don’t want to involve a real estate agent or real estate agency to help you along the way then you should really go to college and do the real estate diploma course to understand all of the requirements and laws that are required to be followed in this field of real estate property investment. It really is worth it in the long run.