Earning an extra stream of income through property investments could prove to be a lucrative exercise. The question is – will taking the Airbnb route be a better investment than a longer-term property rental investment?
Although there are some restrictions and limitations regarding how many days a property can be rented out for, there are definite advantages as well. Short-term rentals are usually fully furnished entities, whereas long-term rentals are normally let out as empty units.
If you have kitted out your premises with everything that opens and shuts, but at a later stage change your mind and decide that the longer-term option is a better, you could find yourself with a household full of furniture and appliances; items you wont necessarily want to get rid of in case you decide to buy another property for short-term rental options.
You will obviously need somewhere to store your furniture and other household items in the interim in a dry, secure place until the need for these items arises once again. This is where self-storage will play a useful role. When you are between projects or undecided, a self-storage unit will be the solution to your storage dilemmas.
The smart thing to do is to find a storage facility that will bring the unit to you and not the other way around, will offer to help you pack your unit, and once completed, will take the self-storage unit away to be stored in a safe and secure environment, where only you will be the keeper of the keys for added security.
Earning an extra income stream could prove to be a lifesaver, and whether you choose to make this a long-term or short-term option is entirely up to you. Hold onto your furnishings and appliances until your very next project by storing them safely and securely in a self-storage unit.