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Long-term or short-term rental?

Posted in Investment on Nov 02, 2019

Long-term or short-term rental?

Which is worth more, and why? What are the advantages and disadvantages?
What should be reported to NAV? In the long run, what is the more secure revenue source? Which forms of expenditure have a greater profit?
These things may seem confusing first, right? 

Let's see, then the main differences! First of all, the concept of short- and long-term expenditure needs to be clarified

Long-term rental

This means that you would like to rent the property in the long run for a period of more than 90 days, the property may be furnished or unfurnished, but no other service is included such as cleaning, etc. In the case of a release in such form, a lease is required between the landlord and the tenant, which includes the tenant's rights, Obligations. In addition, the rental fee is usually fixed in a monthly fixed amount, plus the overhead cost that must be paid in addition to the rental fee. In addition, the landlord may ask for two monthly installments, which if the apartment has not been damaged, etc., the tenant will receive it when he/she moves out.

Short-term rental

In this case, the owner gives out his apartment for a couple of days or weeks, primarily for tourists, as well as other services such as cleaning, bedding and basic things like soap, etc. must be provided for guests. The price of the guest night is clearly included in the cost of the rent and obviously  it can be only an furnished property.

* As a short-term release takes place so through an intermediary sites, payment is happening online, so the owner  receive the money always on time.

** The real estate property does not deteriorate in the case of a short-term rental, since after each guest it is visible what state it was left there and, if there is a loss or improper obligation to pay the amount awarded by the owner. While in long-term rental, we usually encounter unpleasant surprises only at the time of the tentant moving out, and it is possible that the 2-month deposit will not be enough to correct all.

After that, if you choose short-term rental, but do not want to look after cleaning, welcoming guests, paperwork etc... then you can ask for help. And your monthly income will still be much higher compared to long-term spending. In addition, we guarantee the preservation of your property! Before the release, it is worth to think about renovating as well!

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