Being a landlord or owning commercial property isn’t the only way to get passive income through real estate. Short-term rentals are becoming more and more popular because they’re earning the big bucks too!
Say that you’re looking at owning a property in a scenic location. You can easily outfit it for vacationers to earn more than you would with a long-term rental. Bonus: you can vacation at your property in the off-months for basically free!
But short-term rentals can be for more than just vacations. You can also look at tapping into a niche for remote workers and digital nomads, who are always looking for cool places to land and do their work. There’s also definitely a market of people looking for a nice place to relax and recharge with more privacy than a hotel can give them.
Short-term rentals can be a great way to earn passive income without the baggage of becoming a landlord.... But..... there is more to it than just that ! It's important to chat to your accountant and know the municipal rules around short term rentals so that you don't end up in hot water!!
If you think a short-term rental could be the right real estate investment strategy for you, just send a DM or give us a call.
Island Homes Group
David Silletta *PREC 250.888.6924
Agustin Torres *PREC 250.886.8520