Do you have a property in the Vail Valley? Are you wondering whether a condo for short term rental has any benefits? With the booming business of private homes as vacation rentals, it’s a good and legitimate question. If you have a condo or are looking at investing in one, it’s time to consider if it’s the type of property that’s a good choice as short term rental housing. Here’s a breakdown of the benefits of offering a condo for rent short term.
Benefit #1: Rental Income
The primary benefit of offering your condo for rent short term is the income. A condo in Vail or the surrounding area is a significant investment. Recouping your investment dollars, having extra income to pay for expenses and the ability to put extra cash in your pocket can be quite appealing. A vacation or short term rental can do just that. One of the best ways to offset the expenses associated with the property is to use it as a short term rental.
Benefit #2: It’s a Good Investment
Property values in Colorado are going up. An investment property in a mountain resort is a savvy decision that can pay off in the long run. Assuming the location is good, the condo is in great condition, and it’s cleaned and maintained well, just owning it will show a return on the investment over time.
Benefit #3: Less Maintenance than a House
A condo might not seem like an ideal choice when looking at investment properties, but something to keep in mind is the maintenance factor. Condos by nature require significantly less maintenance than a house. You have no yard work, no exterior upkeep, no snow removal, and the potential for more amenities, such as a pool and workout facility, all maintained by someone else.
Benefit #4: Enjoy It When You Want To
Any home in a resort like Vail allows you to enjoy the destination when you want. A condo you use as a short term rental is no exception. Using it as a vacation rental means you get to decide when it’s available for rent and when you want to use it for yourself, your family or your friends. In addition, using it yourself allows you to keep your eye on the property. You can regularly check on the condition as well as get an idea of improvements that could enhance the experience of your renters.
Benefit #4: Easy to Manage with the Right Help
A condo for rent short term is an easy property to market and manage if you have the right help. All you need is a good property management company to oversee advertising, client reservations, contracts, maintenance and customer care.
Take Advantage of Offering a Condo for Rent Short Term
If you want to take advantage of a condo for rent short term in the Vail Valley, the only help you need is from the team at Fireside Properties. Contact us today by calling 970-476-4446 or visiting us online.