Short Term Rental Management
Speed Keyz is a reliable short term rental property management company with competitive short term rental management fees
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Advantages of short term rental compared to long term rental
With such an overwhelming list of tasks required in short term rental management, one may ask why they would even consider it. Why not just stick with the traditional long term rental model and enjoy the steady income?
The biggest attraction for many short term rental owners is the increase in income. Even with the additional cost of third party management fees, revenue for short term rentals in the large majority of markets is considerably higher. For example, a typical 1-bedroom home in Los Angeles or Orange County may rent for around $1,500 monthly, resulting in annual revenue of around $18,000. That same home as a short term rental in the Southern California region would rent for approximately $140 nightly. Even if this home is only rented 80% of the time, the resulting annual revenue would be around $40,320 which is around 2.25 times higher.
For some, the incentive is not the additional revenue but the flexibility. Perhaps your second home is in a vacation area that you would like to use from time to time, or maybe it is in your own neighborhood and you often have guests coming into town to whom you would like to offer the space. Whatever your scenario, the short term rental model provides you with the flexibility to block off certain dates for your own use while still generating income on the property. Based on the sample Southern California home mentioned above, your property would only need to be rented for 11 nights per month in order to generate the same revenue as for long term rental.
These advantages, coupled with the elimination of much work and headache when hiring a short term rental property management company, really makes the decision a no-brainer for many property owners!
(213) 219-8315
1055 S Serrano Ave #502, Los Angeles CA 90006
