Gilbert az father passed and wondering about vacation rental
Hi my father recently passed away. He has a three bedroom two bath home 1800 ft.² in Gilbert Arizona. It is in good condition. My family and I are interested in keeping the home and using it from time to time it is still has a mortgage.we are trying to decide between a long-term rental and a short-term vacation rental. We currently have 16 long-term rentals but have no experience with short term. My brother lives close and would be able to manage the property but we're on sure of the market conditions in this area. What would we expect what months are slow? how to begin formulating a budget. drawback from this home is that it does not have a pool. It does however have a beautiful patio covered/door living room that is brand-new. And a really nice backyard space
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I have properties in Scottsdale and this is how I go about evaluating them. Go to airdna.co (not .com) and search for Gilbert, AZ. You'll see how much activity there is and if you create an account on airdna (free) you can then view rates, occupancy, etc... It also provides direct links to Airbnb's site so you can view the properties and look for "like for like". AZ is the first state to legalize VR's so you're in good hands legislatively. You'll just want to check your local county for tax collection/remittance information. Best of luck.