Finding a profitable short-term rental investment property is easier than you think.
Here are some of the indicators of a profitable short-term rental investment property:
Easy access to public transport
As you’re looking for short-term rental properties, it’s important to consider how easily accessible they are. Public transport is a good indicator of the desirability of an area and also how much rental income you will be able to generate. If you purchase a short-term rental property in an area with good public transport, then it is one less reason why visitors should not stay here.
One of the first things people consider when looking for places to stay is accessibility to highly-rated restaurants. If you are going to invest in a short-term rental property, it’s important that your tenants are happy and willing to stay because of the good restaurants nearby.
Fun things to do
People like to visit fun and must-visit places when in other cities, regardless of whether they’re here for vacation or work. If you want to ensure that your short-term rental investment property will be profitable, then make sure there are fun things to do nearby.
Parks and green areas
Healthy public parks and spaces are an indication of a good area for having a short-term rental property.
Good parks are good for the community because they provide recreation opportunities that attract people to the area. They also help build up a sense of community and make visitors feel potentially safe.
In addition, healthy places can lower stress levels in people who live there by encouraging them to spend time outdoors (especially if you’re renting out your unit). Finally, pollution-free environments are healthier than polluted ones—which will save you money on future repairs.
Nightlife, cafes, and cinemas
The nightlife, cafes, and cinemas in a city are all very important.
For many tourists, there’s no point in staying overnight or for longer at a pace that doesn’t offer nightlife. You need to know what your potential tenants love doing, so you can plan your short-term rental property around their interests.
It’s also important that the café or cinema is close by so they can walk there easily when they want to go out with friends or family.
If you want to invest in short-term rental properties but aren’t sure where to start, there are a number of things you can do. The most important thing is that you find properties that are suited to your investment goals and needs, which means looking at their location and other factors before making an offer on one.