Top 5 Reasons to Invest In a Miami Vacation Rental

Thinking about investing in a Miami home? Consider the fantastic benefits of short-term rentals:

Short-term rentals have become an attractive option for tourists, as they offer a sense of home and flexibility that hotels might not. Not only benefitting vacation-seeking travelers, these bring numerous advantages to investors. A booming market, specially in a pandemic-concern filled environment, vacation rentals can be a lucrative and convenient opportunity. For a deeper understanding of the advantages of short-term rentals, here are five benefits that will make you jump at the opportunity of becoming an investor.

1. Real estate appreciation

Short-term rentals allow you to profit on your property as it appreciates in the long-term. Unlike house flipping, buying a home and holding it over the years will give you the chance to profit from a sale in the future while capitalizing on local demand.

2. Higher return than long-term rentals

Unlike long term rental holders, short-term vacation homeowners can charge premium prices that spring from high demand in touristy areas - like a home under the Miami sun. Especially during holidays or summer days, guests can be willing to pay a much higher price than a monthly-lease-paying tenant. If you achieve a constant stream of guests in your property, a short-term option can offer a significantly higher return than an ordinary rental. 

3. Flexible TurnKey home opportunity

A furnished home that is readily available for guests can provide passive income while you choose to focus on other areas of your life, whether that is building your career or exploring new hobbies. This also opens the door to investing in a run-down home, renovating it, and profiting off popular demand in an appreciating asset. Also keeping in mind that vacation-seekers are looking for a temporary stay, short-term rentals provide you with the flexibility of making use of your home when unoccupied. Imagine, for example, enjoying a relaxing stay in your Florida beach house without a year-long-lease posing as an obstacle.

4. An upside to home up-keep

The time-consuming tasks of managing and maintaining a short-term rental, as opposed to a long-term rental property, is a reality. Choosing the right properties, maintaining your home in-between guest stays, updating your listing to meet consumer-changing needs, and ensuring appealing offerings and amenities to potential guests are tasks that require dedication and research. However, partnering with the right vacation rental management company can help you reap the benefits of short-term renting without the workload. At host and keep, we aim to make your hosting experience as hands off and profitable as possible as we grow our services and capabilities to meet market needs. 

5. A booming market

Guests are increasingly choosing to leverage the benefits that companies like Airbnb and Vrbo offer over a traditional hotel stay. With short-term rentals, they can find better deals and customize their experience through personalized listings. Some benefits that guests value include diversity in rentals, immersive local experience, privacy, and the sense of having a home away from home. Being a short-term rental investor that provides the right experience for the right guests can allow you to earn income in a growing market of consumers that are looking for personalized vacation experiences.

Investing in a short-term home while partnering with a company that can help you capitalize on it effectively can bring you a wide variety of advantages through a hands-off experience. Consider these benefits when thinking about your future investment opportunities and you might discover that short-term rentals are just the right fit for you.