So you have been debating if you should go long term rentals or short term holiday letting? We have some compelling reasons why you would choose the former.
The lack of long term houses for tenants is a hot political topic. In a bid to address this, QLDC is looking at changing legislation to prevent property owners renting short term. Even if this does not go ahead (and it looks like it will), future similar legislation could result in the same thing - a sudden increase in the supply of rental homes. As the owner of an investment property you should want to be positioning yourself in the market before short term properties potentially flood the market and impact rents. It is happening in Taupo. Read more ...
I have seen many property owners switch from short term rents to long term because of the erratic cash flow that accompanies holiday letting. It is either feast or famine. Great if your house was booked for Challenge Wanaka, A&P Show weekend and Warbirds but what of the in-between times? Long term rentals translate to an even cash flow.
Thirdly, if you rent short term, do you know who made the booking? Is it really for Mrs X from Ponsonby or is it for her school leaving son and his delightful friends? There is a lack of scrutiny of guests on many booking sites.