Email Dave Email
Residential Real Estate
May 8, 2020

Long-Term Rentals vs. Vacation Rentals: Why Long-Term May Be The Best Choice For Investors

Sponsored Content provided by Dave Sweyer - Owner and Broker, Sweyer Property Management

As with many other things in the world today, there is a lot of uncertainty surrounding vacation and short-term rentals which, in North Carolina, are any rentals for a period of less than 90 days. Even with some restrictions on short-term rentals being lifted, there is no guarantee that they won't be reinstated in the future should we see another uptick in Covid-19 cases.
 
Long-term Rentals Guarantee Income in an Unpredictable Market
 
The good news is, if you are using your investment property as a long-term rental and have a tenant in place, their tenancy will not be affected by Coronavirus-related restrictions like short-term rentals may be, and you will have guaranteed income for the duration of the lease. Long-term tenants give property owners peace of mind in knowing that there is someone firmly in place in their investment properties versus banking on the vacation market remaining open and steady throughout the busy season.
 
Though North Carolina is cautiously opening up vacation rentals at some area beaches, this is being done with restrictions still in place. As of May 8th, 2020, Wrightsville Beach, for example, is prohibiting vacation rentals to parties who reside in or have traveled to countries or states in the last 14 days that still have active stay at home orders. This especially puts a limit on vacation rentals as much of the tourist activity we see in the summer comes from these states. However, there are no such limitations on long-term rentals.
 
Less Wear-and-Tear on Property
 
Another factor to look at when considering long-term rentals vs. vacation rentals is, of course, income. Long-term rentals typically bring in the same if not more income than vacation rentals and don't bring along the hassle of constant turnover every week or two. This in turn leads to a lot less wear-and-tear on your property. Furthermore, long-term tenants consider properties they rent their personal homes and will treat them as such - they will care for the property as if it were their own which bodes well for the condition of your property and the state of your investment.
 
Financial Planning Made Easy
 
Long-term rentals also provide more peace of mind in budgeting and financial planning for the year versus vacation rentals. If you have a tenant sign a twelve-month lease, you're able to project your income for the entire year and get a clear picture of what your financial situation will be versus relying on tourists renting your property every few weeks. With the current unpredictable state of the world, this provides some much-needed assurance and stability for property owners.
 
If you own a vacation rental in the greater Wilmington area and are interested in exploring the benefits of long-term rentals, give the experts at Sweyer Property Management a call or contact them here. With all the uncertainty in the world today, you deserve some peace of mind when it comes to your investment property.
 
Sweyer Property Management has exhibited continuous growth throughout the Wilmington, Leland and Hampstead areas while maintaining an excellent Google+ rating for customer service. To inquire about the company’s full-service management services or to take a tour of homes for rent in the area, visit them online at WilmingtonForRent.com
 
Please Like and Follow the Sweyer Property Management Facebook, Instagram and LinkedIn Pages for property management tips and to see properties available for rent.

Other Posts from Dave Sweyer

Sweyer animated 300x250 ad
Ico insights

INSIGHTS

SPONSORS' CONTENT
Carolinemontgomery4

The Incentive Stock Option Tax Trap

Caroline Montgomery - Adam Shay CPA, PLLC
Alycephillipsnew2

Kids, Educating, Saving And Investing

Alyce Phillips - Old North State Trust LLC
Dave sweyer 300 x 300

8 Signs It May Be Time To Call In The Professionals To Manage Your Investment Property

Dave Sweyer - Sweyer Property Management

Trending News

For $100M Waterfront Project, Construction Begins

Cece Nunn - Aug 10, 2020

Developers Plan $8.5M Spec Building In First Construction At Brunswick Megasite

Christina Haley O'Neal - Aug 11, 2020

Hendrick Acquires Auto Dealership From Neuwirth Motors, Completes Moves

Cece Nunn - Aug 11, 2020

Private Preschool Opening Wilmington Location

Cece Nunn - Aug 11, 2020

Home Sales Jump 34% In July, Realtors Report

Cece Nunn - Aug 10, 2020

In The Current Issue

First Carolina To Open Local Branch

In just over a week, the Port City is set to see the full-fledged arriv­al of one of its newest communi­ty banks....


Next In Line To Lead Ports

Brian Clark becomes the new executive director of the authority, following the retirement of Paul Coz­za, who has served as executive direct...


NHRMC Programs Receive Several Accolades

Several New Hanover Regional Medical Center departments and providers recently garnered state and national accolades for their work....

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`