What is best for my investment property- a traditional long-term tenant or setting it up as a short-term rental?

Would you consider Albury Wodonga Apartments to manage your investment property?

If you have an empty home then you may be wondering how to capitalise on it. Letting out your property on a short-term or mid-term basis can be very profitable when done right.

The main differences between short, mid and long term rentals or lets are below:

• Long-term lets (long lets): the traditional letting arrangement, with contracts from six months to two years. A real estate agent will assist with this and you have set income each week and don’t have to pay for utility bills and wifi.

• Mid-term lets (mid lets): a growing segment of lettings, from one to six months, typically for professionals, renovators or students. You’ll need to set the house up with all the furniture and other items that guests need.

• Short-term lets (short lets): the fastest growing segment, from one to 30 days, which originated in vacation rentals and is popularised by platforms such as Airbnb, HomeAway, TripAdvisor or Booking.com and traditionally earn property owners the most. You’ll need to set the house up with all the furniture and other items that guests need.

Albury Wodonga Apartments specialises in mid-term and short-term rentals- high risk but high reward! You can make double or triple what you’d make with a longer-term tenant but there is no guarantee of income each week. We’re happy to provide references so you can speak to our property owners that have already come on board and are reaping the benefits of mid-term and short-term guests. For more information click here. And watch us here- Albury Wodonga Apartments - YouTube