Short Term Rentals (AirBNB) VS Long Term rentals

[Travis Turner]

I am currently invested in a good number of long term rentals in Lubbock, TX, and have looked into the short term rental game.  What are the benefits (if any) to short term vs long term? It seems the monthly amount you can make is more if you have the right location, however is the juice worth the squeeze in terms of Extra work?

[Account Closed]

Travis, I think a lot of people, especially on the STR forums, would argue that short term rentals are worth the extra work. I think the main benefit discussed would be the additional cashflow that a well run short term rental can generate. Besides that, one additional benefit might include owning a property you could use. Depending on the area of the STR, another possible upside would be owning in an area that has different market fundamentals and may still perform even in contraction stages of the RE cycle.

Having said the above, there is a learning curve to running a short term rental, and my experience has been, that there is also a period of getting the property running smoothly and getting reviews before it is running at its peak. Although STR investors recognize the increased work, I also think there is still a tendency to continue creating and refining systems so that even short term rentals can be run with minimal effort.