5 Things You Should Know Before Investing in Short-term Rental

Nowadays, there are a few different ways to do your property investment. And, there is it. Like Airbnb rental investment, traditional long-term rental, and also sublet (co-living). The difference is the return or profit you're looking for. Below are a few tips for your reference

1. Location

A good location always lets your property rent out quickly and at an acceptable price. Nearby tourist attractions like KLCC, Bangsar, and Cheras area will be the first consideration point for the tourists or even business travelers. And if there are universities nearby can consider too.

2. Public Transport

Public transport is kind of a point before you purchase this property. Although nowadays GRAB is convenient for everyone, still, have someone who can't afford these expenses. Therefore, this will be one of the main points to have. Either your tenant is a student, tourist, or worker. An average of 10 to 15 minutes walking distance is acceptable.

3. Property Management

Look for the right property management company to assist you on behalf to settle all the troublesome issues like tenant screening, listing creation, maintenance issues, rental collection, and more. Sit back and hassle-free, wait for your monthly income will do. Let the expert team do their fantastic jobs.

4. Know the risks

Once your property starts renting as Airbnb, you have to notice that your property condition will not look new at first, the outlook even the interior will change year by year. Some of the investors are willing to pay for the refurbishing to make the unit looks new and nice. As for now, there are many fancy apartments with nice facilities in the rental market. Tenants have time to search for the right staycation place.

5. Your Building is Allowed to do Short-term Rental

Note! Some of the building that is in the residential title is not allowed to do Short-term Rental. And also need your building's Joint Management Body (JMB) to allow only can proceed if not there is a penalty. Therefore, verify before getting the right property to do your investment.