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Vacation rentals are a type of real estate investment that falls under the category of short term rental properties.
These rentals are alternative to hotels and are usually rented out for a period of fewer than 30 days.
Thanks to the internet, vacation rentals have increased dramatically and have opened up new opportunities for real estate investors.
Getting started in any real estate investing can be intimidating. But can you imagine not having to deal with tenant-screening or evictions for hard to deal with tenants? This is why many investors are finding it easier to buy short term rental property to get started in real estate investing.
Why are vacation rentals a good investment for beginners?
Dual-Use Property
With vacation rentals you can use the home as your vacation getaway and rent it out the rest of the year. If vacation rental seems to be too much, you can always turn your rental into a long term rental. It is appealing when you have those choices.
More Rental Income
When choosing a good location, vacation homes tend to attract many travelers and tourist during the high season. During the high season, you can charge higher rental rates due to the high demand. Not to mention that income collected will help pay for the mortgage or any investment property-related expenses.
Easy to find Guest
Thanks to Bahamian Property managers and rental websites, finding a guest for your vacation rental property has become so much easier. Even though this is great, it is crucial for you as a real estate investor to learn how to attract guest and personally speak with them in the beginning.
Hire A Property Manager
Of course, this is by choice. But if you are not on the island and need someone to oversee the guest and look after the property, it will be best to hire a professional property manager.
Real Estate Appreciation
Another advantage of owning a vacation rental is the money you can make in the long term if you decide to sell the investment property. Vacation rentals in The Bahamas are always in demand, which also means that their value increases. If you do decide to sell, you can cash in the profits you made and use it to finance another investment property.
If you would like to invest in an income-producing property give me a call TODAY!
Livingston Brown
242.427.2523
livingston@bettermcrbahamas.com