Investment in real estate has been the foremost choice for the investors due to its excellent return and many other benefits. There are many ways in real estate through which you can make huge returns and short-term rentals are one of them. Short term rentals are also a type real estate investment that is in trend these days. This type of rentals means renting out your property such as a well-furnished apartment or home for short trips or stays. Investing in short-term rentals has increased a lot in India due to the rise in tourism, touring and traveling. Through these short-term rentals, one can generate rental income in a quick and fast way.
Advantages of Investing in Short Term Rentals in India –
Let us consider the benefits of investing in short-term rentals.
Help you in tax benefits
A tax deduction is one of the biggest benefits of short-term rentals that include deduction of mortgage interest on the properties. These tax advantages are applicable to property tax and many other expenses.
In terms of profitability
Short term rental can help you in earning more profit than any other long term rentals. For your short-term rental property, you can ask for rent on a weekly or per night basis. This’ll be higher than the amount you can charge for your long-term rental properties. This is one of the important benefits due to which people want to invest in short-term rentals in India.
With short-term rental property, you get flexibility in terms of timing. You can freely rent out the property as per your need and convenience. Apart from this, if you wish then you can also use the property for your vacations or trips.
Another important benefit of short-term rental is that it ensures less damage to your property. If you’re renting out your property for a few days then there is less chance of damage to your property. Renting out the property for more than 6 months or 1 year can increase the chances of damage to the property.
Increasing the value of the property
It is known to everyone that the value of the property increases over time. Value of short-term rentals also increases in a good way. Thus, you can earn a profit by selling it out when the market is high. In this way, you can earn more profit from your short-term rentals.
This is one of the great advantages of having a short-term rental due to which investors show interest in buying these rentals. This can help you in generating steady income on the weekly, hourly or nightly basis.
Short term rentals can serve the investors in many ways, right from tax benefit to steady income. Owing to the above-mentioned reasons, you might want to invest in a short-term rental property. SmartOwner`s recent blog post will help you know about the short-term rental property in detailed. As of now, many people have benefitted with this. Do read and accumulate the desired information that you have hunted for.