Short Term Rentals

Why Short Term Rentals?

Short-Term Rentals, sometimes known as vacation rentals, are those that are rented out for fewer than 30 days at a time. Local ordinances and HOAs are very strict regarding where these are allowed and the rules and regulations for owning one. However, if your area allows them, or you are interested in another area that allows them, these can be very lucrative!

Consider, for example, a 2-bedroom unit in Whatcom County. It might rent for $1800 a month on a long-term lease or $250 a night when rented as a short-term rental. With the short-term rental, it only needs to be rented eight days a month to break even. A very simple example since we haven’t worked any expenses, but you get the idea.

The cool thing about short-term rentals is that if you are open to someone else being your “boots on the ground” somewhere else, your location can be open to wherever your heart desires! That being said, if you plan on buying a home to use as a short-term rental and want that business to generate income, you have to look at locations with not just your heart and beach towel, but with your head as well.

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