Understanding the different types of rental properties can be very important whether you're an investor or someone looking for a short-term space to stay. One of the choices you may need to make in either of those situations is whether to pick a furnished rental or an Airbnb. Here's what you need to know about their differences, so you can decide on the one that's right for your needs and goals.
Furnished Rentals
Most furnished rentals are very much like standard furnished apartments, only they're designed for short-term stays. That provides renters with something that feels more like home and lets them travel or work in different areas without having to stay in hotels. Furnished rentals are no less than 1 month and typically rent between 1-4 months. The great thing about them is that tenants have privacy and everything they need.
Most of the time companies own these, but sometimes they're owned by private landlords. It's vital to have a contract for any kind of furnished property rental and make sure it covers everything the property manager and renter are supposed to do, to reduce liability and increase legal protections.
Airbnb Options
An Airbnb isn't quite the same. It's frequently a room in someone's home or a different space on their property such as a tiny home or mother-in-law suite. Of course, that's not always the case and some people have apartments or homes they rent out through the company. Airbnb has very specific rules and requirements for those on both sides of the rental arrangement, along with a process for leaving ratings and reviews. That can help protect renters and property owners.
The Bottom Line
The most important thing to remember about furnished rentals and Airbnb options is that they both have their place in the rental world. Depending on the specific goals you have and whether you have more than one property, one or both of them could be right for you. Finding the best option is the goal, so you can stay on track with the plans you have for the future.
We are proud to offer all-inclusive property management specifically for furnished monthly rentals. Includes listing it, renting it, guest services & turnovers, coordinating repairs, and move in/out inspections between guests. Learn more about our services here!
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