Short term rentals have become a popular way for travelers to experience new places, and for property owners to earn extra income. With the rise of platforms like Airbnb and VRBO, short term rentals have become more accessible and easier to manage. However, not all locations are created equal when it comes to short term rentals. In this blog, we will explore the best locations to buy short term rentals.
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Tourist destinations: Tourist destinations are always a good bet for short term rentals. Places like Paris, New York, and Hawaii are popular among tourists, and demand for short term rentals is high. The downside of tourist destinations is that property prices can be expensive, and there may be strict regulations on short term rentals.
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Beach towns: Beach towns are another popular destination for short term rentals. Places like Miami, Myrtle Beach, and Santa Monica are attractive to tourists, and demand for short term rentals is high during the summer months. The downside of beach towns is that property prices can be expensive, and there may be strict regulations on short term rentals.
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College towns: College towns are a great option for short term rentals, especially during the school year. Places like Austin, Boulder, and Ann Arbor are popular among students and parents visiting their children. The upside of college towns is that property prices are typically more affordable than tourist destinations or beach towns.
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Ski resorts: Ski resorts are a great option for short term rentals during the winter months. Places like Aspen, Vail, and Park City are popular among skiers and snowboarders, and demand for short term rentals is high. The downside of ski resorts is that property prices can be expensive, and there may be strict regulations on short term rentals.
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Business districts: Business districts are a good option for short term rentals, especially during the week. Places like New York City, San Francisco, and London are popular among business travelers, and demand for short term rentals is high. The upside of business districts is that property prices are typically more affordable than tourist destinations or beach towns, and there may be less regulation on short term rentals.
When looking to buy a short term rental property, it's important to consider the location and the demand for short term rentals in that area. While tourist destinations and beach towns may have high demand, the property prices may be too high to make a profit. College towns and business districts may offer more affordable prices, but the demand may not be as high. Ski resorts are a great option during the winter months, but may be more seasonal.
In conclusion, the best locations to buy short term rentals are those with high demand and affordable property prices. Tourist destinations, beach towns, college towns, ski resorts, and business districts are all good options to consider. By doing your research and carefully considering the location, you can find a short term rental property that is profitable and in a great location.
If you have questions about your next short term rental investment please reach out to me and schedule a consultation.
Amanda Jacobellis
