Are you thinking about offering a short-term rental space? If so, you are looking at one of the many popular side-gig and extra income options that numerous people in Pennsylvania and elsewhere are considering these days. If you have an unused room, apartment, condo or house, you may already have the accommodation you need to start. Of course, there are details to consider.
First, you want to really think about whether you feel ready to act as a landlord. Even if your renters do not stay more than a week at a time, you still hold the responsibility of handling check-in and check-out, maintenance, cleanup and more. Next, you want to ensure that the location of your rental allows for short-term rentals to take place. Some areas have laws against such accommodations.
Feel ready to start?
Before you list your rental accommodation on a rental site like Airbnb or Vrbo, familiarizing yourself with some details relating to short-term rentals could help. Taking on this side-gig or even making it a full-time job is not for everyone and can’t occur everywhere. Asking yourself the following questions may be a good place to start:
- Is short-term rental allowed in your area? Some areas having zoning restrictions or other covenants that may prohibit short-term rental.
- Is the prospective rental space furnished? Short-term rentals typically come with furniture for vacation or residential renters.
- Do you have a short-term lease? Even a vacation rental needs terms regarding expectations from all parties involved.
- Do you plan to offer maximum lengths of stay? Some short-term leases allow for months-long rentals, and others prefer high turnover with daily or weekly rentals.
- Do you have proper insurance coverage? Because you own the property, you are still liable for any injuries, accidents or broken items on the property.
- How do you intend to handle booking renters? Some property owners prefer potential renters to call to book, and others utilize online sites and software.
While short-term rental can certainly bring in a generous side income, it is important to remember that offering a space to rent comes with work that needs addressing. Once you start, you may have the ability to automate some of the steps or hire cleaners to come in after tenant turnover, but as you get started, you may want to ensure that you have the legal details down and understand your responsibilities and liabilities.
