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  • Writer's pictureKaci Gebora

Renting or Selling Your House: What's the Best Move?

Instead of selling your home, you may consider renting it out. Short-term rentals (STRs) are an increasingly popular financial option for hotels.

Short-term rentals are appealing, but managing one may be tricky. Renting your property instead of selling it may provide several issues.

Short-Term Rental Responsibilities

It takes time and effort to rent your residence short-term. You'll manage bookings, check-ins, housekeeping, landscaping, and maintenance. Any one of them may be difficult, but all of them are.

New visitors check in and out often in short-term rentals. Due to increased house traffic, you may need to repair or replace your furnishings, fixtures, and appliances more regularly.

If you utilize a platform to publicize your rental property, consider your commitment level. Most have host requirements.

Before turning your residence into a short-term rental, consider several factors. If you don't want to work, sell.

Rental Laws

Regulations have grown with the short-term rental business. Vacation rental numbers are often limited by law. In major towns and tourist areas, overpopulation or housing shortages for permanent inhabitants may be a worry. Short-term rental property restrictions may also apply.

Before renting, many localities require homeowners to get a license or permission.

Bottom Line

Research before turning your house into a short-term rental. Let's talk about selling your residence.

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