Short term vacation rental is quite a popular business in Bali. In fact, most private villas in Bali are turned into vacation house to accommodate the travelers. However, short term rental properties are quite saturated in this island and more property owners are entering the market every year. This is why long-term villa rental is appealing. First, you have less competition as hotels and resorts are eliminated from competitors. Second, there are lots of foreign settlers in Bali that needs a temporary home for a year or two. These are more reasons why long-term rental is beneficial for private villas owner.
A Reliable Source of Income
Long term income guarantees a steady cashflow to your bank account at all season. You don’t have to devise a special marketing strategy during the low season and slow months, because your long-term renter will pay the rental cost every month. Long-term rental has the advantage of ensuring consistent earnings throughout the year. If you’ve had a reduction in bookings, this can help you maintain your earnings.
Less Property Management Responsibilities
Management responsibilities are reduced. When compared to short-term renting, tasks like guest communication, check-in and check-out, and web promotion are reduced when you only rent to one visitor at a time. In most cases, you will only need to speak with the visitor once they have checked in and settled into the property.
You Don’t Have to Fully Furnished Your Private Villas Bali
Furnishing the private villas Bali to the detail is essential for short term rentals. However, this is not necessarily the case with long-term rentals. Long term rental allows you the option of fully furnishing or partially furnishing the property. When seeking for a longer lease, many tenants bring their own furnishings. This can help you save money on additional rental furnishings.
Saving Money on Less Amenities to Provide
Short term and long term rental have different amenities that guests need in the house. In the short-term rental industry, competition can be fierce. This is because the guest-to-rental ratio frequently favors guests, who can choose from a variety of rentals. To make their rentals stand out, hosts frequently invest additional money on basic amenities. This is less prevalent in long-term private villas Bali rental because visitors have varying amenity needs. Guests wishing to rent for a longer period of time will be looking for basic amenities like a dishwasher rather than a hot tub or a bonfire.
More Villa and Business Insights:
Utility Bills of the Private Bali Villas isn’t Your Responsibility
Utilities are one of the most significant recurrent monthly expenses in a rental property, and they can vary significantly from month to month depending on a variety of factors. However, in most circumstances, it is the renters, not the landlords, who are responsible for paying the utility costs.