More vacation and investment property owners intend to rent out their homes as short-term rentals this year, according to research from the National Association of REALTORS®.
Twenty-five percent of those with vacation properties and 24 percent with investment properties rented their home as a short-term rental in 2017—30 and 32 percent, respectively, plan to do so in 2018, according to NAR.
Forty-five percent of investment buyers say they purchased their properties to generate income through renting. That was the top motivator for their purchase, ahead of flipping or seeking price appreciation, according to NAR’s research.
Many second-home owners are seeing immediate profits. Forty-two percent of investors and 39 percent of vacation home buyers paid in all cash for their properties, according to NAR.