Short-Term Rentals: Management Considerations and When to Transition to Long-Term Properties

The Same Day Podcast

Hannah Shelburne is the Business Development Manager at Keyrenter Property Management in Arkansas, where she manages short-term rental properties. With experience managing both long- and short-term rentals, Hannah closes real estate deals by identifying clients’ pain points and offering top-notch services to resolve them.

Steve Howard is the Business Development Manager at Keyrenter Property Management in Wichita, where he manages short- and long-term rental properties.

Yonatan (Yoni) Schmidt is the Regional Vice President of Sales and Marketing at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, Wichita, and Arkansas. After working as a financial analyst at a private equity firm, he founded Tulsa Property Lad to offer clients a better way to buy, sell, manage, and invest in real estate. Yoni provides comprehensive Oklahoma real estate services and listings, supported by first-class customer service.

In this episode…

With more people leasing their homes temporarily on platforms like Airbnb and VRBO, many real estate investors have considered investing in short-term rentals for consistent cash flow. However, the management process for these properties is considerably more strenuous than traditional long-term rentals. What should you consider before entering the short-term rental market?

With extensive experience managing short-term rentals for landlords, management executive Hannah Shelburne maintains that while this method is high-risk, it can be profitable for investors wanting to diversify their assets. However, you must recognize that short-term rentals necessitate an ongoing management process involving maintaining property and yard cleanliness, sourcing technicians to resolve frequent issues, restocking inventory, and assessing if anything was damaged. Additionally, long-term rental expert Steve Howard warns against listing and booking short-term rentals on commercial platforms since they merely facilitate fast transactions rather than source quality tenants. If you’re struggling to obtain a consistent cash flow with short-term rentals, versatile property manager Yoni Schmidt recommends assessing market trends to consider converting the property into a long-term rental.

In this episode of The Same Day Podcast, Mat Zalk invites Hannah Shelburne, Steve Howard, and Yonatan (Yoni) Schmidt of the Keyrenter Property Management team to speak about short-term rental management. Together, they share the differences in managing short- and long-term rentals, how to maximize cash flow on short-term rentals, and the influx of short-term rentals in Northwest Arkansas.