5 Things You Should Know About Investing a Cincinnati Short-Term Rental Property

While not the typical investment that comes to mind, the benefits of the short-term rental property sector of the market merit further investigation. Investors are wise to continually educate themselves on market news, keeping their business riding on top of the wave of real estate investing, with an eye towards the future. Societal changes created more desirability for the unique features of short-term rentals brings a result, this transformation has come to the attention of investors. We’ll explore five things you should know about investing in Cincinnati short-term rental property.

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Growing Trend

The growth of technology within real estate and consumers who are savvy in using online apps, making it easy to find a property that suits their needs for their visit perfectly, has combined to create a growing trend in Cincinnati short-term rental property. The industry is multiplying as vacationers and visitors of today have come to expect a more private and home-like atmosphere than noisy hotels packed full of guests. Moreover, guests appreciate the special touches that make the stay more personal, often becoming return visitors.

Fewer Turnover Costs

Due to the nature of more desirable times of year in Cincinnati short-term rental property, or even more desirable days, like weekends, the general wear and tear effects are lessened by fewer actual occupied days. Turnover costs can be expensive and time-consuming on more long-term rentals, creating a more extended downtime with a vacant unit. Prepping for new tenants typically includes deep cleaning and painting. However, the work required often goes beyond repainting; tenants can add a great deal of wear to a unit in a year that they’ve settled into over a more extended period.

Higher Returns

While occupied for a lower actual number of days, the rental rate for a Cincinnati short-term rental property is much higher per day and more than makes up for the difference in days occupied. In addition, landlords can adjust rates for holidays and other high-demand days on the calendar. You can also require minimum stays, which ensures your bottom line, even if the occupants don’t need the unit for that length of time. As a bonus, you can block off a limited number of prime days per year for yourself, being sure to follow the tax guidelines for vacation investment properties.

Diversify

Risk management is as important as due diligence when you set out to plan your real estate investment strategy. By spreading your investments across many areas of real estate, you build a safety net to protect your income. As an emerging sector in Cincinnati, short-term rental properties offer a fantastic opportunity for diversifying your real estate portfolio. The potential tenants for these properties are as diverse as the properties themselves. In addition, there is a wide range of price points among properties suitable for short-term rentals, making it an excellent way for new investors to get started. 

Tax Advantages

Owning Cincinnati short-term rental property is attractive because it offers the benefits of tax deductions for operating expenses. So naturally, costs for maintaining and refurbishing an investment property are also deductible. Be sure that you keep excellent records and receipts in an orderly fashion. Hiring a property manager and owning your investment business as an LLC carries significant advantages. As always, you have to play by the rules of the tax guidelines, but the work is well worth the effort to improve your income for your rental property.

Short-Term Rental Property- OTA

Guide in Short-Term Rental Property Investment

You only need to make one stop, with the convenience of our professional hybrid agents and investors all rolled into one at Team Sztanyo. If you have any questions about which option is best for your situation, Team Sztanyo will take the time to listen. Team Sztanyo will address any of your concerns with no obligation. To learn more about how our hybrid agents and investors can help you solve your problems, contact Team Sztanyo at (513) 813-6293 today and get started.
When you call, we listen. We want to find out what is causing you stress, how fast you need to sell, and how we can help you.

If you’re buying a home or Cincinnati area property Team Sztanyo has the experience you need to help make the buying process easier, less time-consuming, and we’re on your side to help make sure you get the best deal while we worry about all of the details.

Either way, countless local homeowners and investors trust Team Sztanyo to help them wade through the real estate buying and selling process while keeping more cash in your pocket and helping you save the time and headache of working with less experienced brokers.

The pros at Team Sztanyo are ready to help you with your Cincinnati short-term rental property needs. Team Sztanyo has properties available and offers management services; we make investing easy. Contact Team Sztanyo today at (513) 813-6293.

If you have questions like: Are short-term vacation rentals profitable?
How do short-term rentals increase income? Reach out to us! When you call our hotline, you’ll be connected with our real estate expert who will listen to the specifics of your situation before making recommendations and answering any questions you have.

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