Dwight Calwhite breaks down whether short-term rentals are worth the extra work in 2024. Airbnbs generate 3 to 4 times more monthly revenue than long-term rentals, but demand more maintenance, cleaning, and guest communication. Furnished monthly rentals split the difference at roughly 2 times the income.
Is short-term rental worth it? Well, from my experience, it seems like renting a house out on Airbnb short-term rental tends to make about 3 to 4 times more money per month than a long-term rental. Now, it requires a lot more effort. We're talking about more maintenance, more scheduling of cleaners, more communication with the guests, the tenants. So there is considerably more work involved, but still you can systemize and automate a lot of this. In between these two, long-term and short-term rental, is midterm. I found that monthly furnished rentals, midterms, are about 2 times more revenue generating than long-term rentals. So you really need to figure out where your sweet spot is and make a decision.
