Short-Term Rentals vs Hotels: A Look at the Advantages for Travelers
As the owner of an apartment complex or group of rental properties, you may have always chosen to rent only to long-term tenants. However, there could be another way for you to use your rental property to make an attractive profit. By operating your properties as short-term rentals to travelers, you are providing a valuable place for them to stay that can be far more attractive than a hotel. Take a look at why a short-term rental or Airbnb property can be more attractive to travelers than the average hotel stay.
Without question, one of the top advantages for travelers staying in short-term rentals is the fact that they are more affordable. You can spend several hundred dollars per night on a hotel room, and this cost can quickly add up to a massive bill if you plan to stay for anything longer than a few days or need multiple rooms. A short-term rental is usually a more financially logical decision because guests can have access to a full kitchen to cook in or multiple rooms for the family to stay in.
A traditional rental offers a traveler a lot of attractive features that they just can’t get at most hotels, such as:
- A fully outfitted kitchen for cooking or reheating food from restaurants
- A laundry area so less luggage is needed for the trip
- Private bedrooms
- More than one bathroom
When a traveler is staying away from home for longer than a few days, all of these accommodations can be super important and cost-effective. For example, they can cook full meals in a fully functional kitchen instead of relying on just a microwave and a coffee pot. Having a washer and dryer in-unit is also a way for families and corporate travelers to travel with ease because extra clothes will not be needed to last for their entire stay. If families are traveling together, having multiple bedrooms is crucial so they can have privacy and everyone can stay comfortably.
When staying in a hotel for several days or a few weeks as a traveler, you can be immersed right in the most tourist-saturated areas of the city. On the contrary, short-term vacation rentals are located in safer neighborhoods that provide more security and are better suited for families. Hotels are often crowded and have many common areas that draw large groups of people. Vacation homes allow travelers private time with their friends or family which is why most decide to take a vacation in the first place!
Find Out More About Rental Property Management in Phoenix, AZ
Transitioning your property from a long-term rental to a short-term vacation rental can sound overwhelming. However, with the help of a good rental property management company, the transition and management do not have to be a challenge. Our team manages all aspects of the process to take the burden off of the property owner and ensure that full attention is given to the guests.
If you would like your property evaluated for its short-term rental or Airbnb potential, reach out to us at Sojourn Properties LLC and we can provide you with a free report.
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