Is Short-Term Rental Returns Higher Than Monthly Rental?
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How do you define "short-term" rental? Well, a short-term rental is a notion of renting out of a furnished home or apartment on a nightly basis when the landlord is not present at the property.
Nowadays, short-term rental properties are so popular for two reasons: For guests, they are cheaper than hotels and, at the same time, landlord incomes are higher than long-term rentals.
Short-term rentals, or also known as home sharing, has gained popularity across the world thanks to websites like Airbnb an VRBO which allow people to list or rent short-term lodging. Bookings have never been easier! One can just easily get their bookings done through their app or online.
Why do short-term rentals?
The income is almost constant when doing short-term rentals. Renters come and go and your property is almost guaranteed to receive good daily and monthly returns.
While short-term rental properties have primarily served budget-minded tourists, it has been attracting a larger share of business guests as of lately. This is due in part to cost - companies can save money on conferences, meetings, and retreats. But the attractiveness of staying in someone else's home goes beyond the travel expense report. These properties allow guests to trade in the cookie-cutter hotel experience for one that offers colleagues a unique and comfortable space in which to connect and collaborate with the host.
A prime location is always important for any development, likewise with short-term rental properties. It is often seen as the medium to main attractions, such as public parks, beaches, State library and eateries. In addition to that, the facilities must be sufficient and adequate. For example, it would very convenient to have a bus shuttle to ferry yourselves and friend/family to and fro the airport or Kota Kinabalu City Centre, retail stores, airline check-in kiosks outside of the airport for everyone's convenience, amongst others.
Advantages of short-term rentals
Short-term rentals can benefit both hosts and guests. Hosts get to meet people from around the world while making a little extra money, and guests can often stay for less than the cost of a hotel room. In addition, many guests enjoy accommodations that offer a different experience from standard hotels.
Short-term rental properties almost always offer more space, not just some box-like room with limited space. It's basically renting a "serviced apartment unitâ€ for a cheap price! And yes, you can make use of the kitchen utensils on the condition that it must be kept clean and tidy â€“ as you would do in your own home.
Short-term rental properties are typically located in good neighbourhoods and have more or less everything within reach from public transportation to convenient stores, recreational/entertainment sites, and education hub, to name a few.
With the many short-term rental properties available to choose from, SP Setia's SOVO Suite at their current integrated development plot, Aeropod, is one to look at. Other popular locations include Riverson and Bay 21, a unique development which allows Airbnb activities on the first eight floors of the development.
For those on a short-term stay, fret not as all the conveniences you can dream of will be within arm's reach.