Renting or Selling Your House What’s the Best Move

If you own a home and are getting ready to move, you might be thinking about renting it out for a short time instead of selling it. Most of the time, a short-term rental (STR) is an option to a hotel, and they’ve become a popular investment in recent years.

couple standing in front of her house, home, real estate, insurance, future, couple, in balance, family, love, stability, garden, sun, summer, Cologne, NRW, Germany

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Even though the idea of a short-term rental can be appealing, you may find it hard to take care of one in real life. Here are some problems you might have to deal with if you rent out your house instead of selling it.

There are things to do when you rent a place for a short time.

It takes a lot of time and work to rent out your house on a short-term basis. You’ll have to handle things like booking, check-ins, cleaning, landscaping, and maintenance all at the same time. Any one of these can be hard, but all of them together are a lot.

Short-term rentals have a high change rate, which means that new people move in and out often. Because of all the people coming in and out of your home, your furniture, fixtures, and appliances may wear out faster and need to be fixed or replaced more often.

Think about whether you can commit to that much, especially if you plan to use a site that advertises your rental listing. Most of them have rules that hosts have to follow. This is what a story from Bankrate says:

“It can take a lot of time and effort to manage a rental home. Are you handy? Can you fix things on your own? If you don’t, do you know of any cheap builders you could call in a pinch? Think about whether you want to take on the extra duty of being a landlord, which means, among other things, screening tenants and dealing with problems, or whether you’d rather pay someone else to do it for you.

Before you decide to turn your house into a short-term rental, there are a lot of things to think about. If you don’t want to do the work, you might be better off selling.

Rules for Short-Term Rentals

As the short-term rental business grows, so do the rules that govern it. Limits on the number of holiday rentals in a certain area are often part of the rules. This is especially true in bigger towns and tourist spots where there may be worries about overcrowding or a lack of housing for permanent residents. There may also be rules about what kinds of properties can be used as short-term renters.

In many places, people who want to rent out their homes must also get a license or permit. CEO of Deckard Technologies Nick Del Pego tells us:

“Most local governments see short-term rentals as a business, and owners must follow the rules for the workplace and getting a business license that have been set up in their communities.”

Before you even think about letting out your home for a short time, you should check with the local government and your homeowners association (HOA) to see if they have rules about or ban short-term rentals.

Bottom Line

You shouldn’t decide to turn your home into a short-term rental without first doing some study. Talk to a real estate agent in your area today to find out if selling your house is a better choice.