The Growing Trend of Short-Term Apartment Rentals

19 Oct
The Growing Trend of Short-Term Apartment Rentals

Hotels, bed and breakfasts, and the like no longer must be a sanctioned business. Instead, people can open their homes to others for a price, making it cheaper to travel.

That is all well and good, for those who want to conduct this business. However, there is also a growing trend of short-term apartment rentals. This is causing problems for landlords because it is turning their rentals into extended-stay motels. Not only is this more work for the landlord, but it also heightens risk, and is leading to many health hazards. Here is what can be done to keep your rental from becoming a hotel.

Keep the Board Apprised of Rentals
Whether this board is a community or a municipal alliance, make sure they know what is going on with rentals. Have an open communication with them and be involved in the meetings. Make sure to keep up on any safety concerns that the board voices and help the board alliance grow together. After all, boards are formed to protect landlords. They are a resource and haven, so utilize their knowledge and experience to the fullest.

Avoid Renting to the Transient Population
While a landlord should sometimes take different situations into account, learn the culture of the renters in the area. When taking applications, be on the lookout for people who have lived in a few different areas throughout the past few years. Since most people rent a place to build a home, a lot of short-lived rentals are strange. While everyone deserves a home, the transient population is that way for a reason. There are a lot of high-risk reasons that far outweigh the chance that they are simply a free spirit.

Keep an Eye on the Neighborhood
While nobody likes a nosey-neighbor, keeping an eye on your community is your duty. Whether you are a landlord, tenant, or another homeowner, the short-term rental, hotel hazard affects you. Therefore, it is your responsibility to ensure it does not occur. If you suspect something is odd with your apartment building, or another home in the neighborhood, call the town. Reports can be anonymous. Plus, if there is something going on, the town will be thankful that you let them know.

To close, no one wants their residential neighborhood turned into a short-rental hotel hazard. Renting is all well and good. However, what happens in the town will eventually affect everyone in the neighborhood. Therefore, it is important that your rental does not become a hotel.