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Which option is the best financially

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Reference no: EM132665962

You have a property that is current unoccupied.

SCENARIO 1: You rent it out long term for $550 per week.

SCENARIO 2: You list the property on Airbnb and receive $200 a night. However, you are not sure how busy it will be but you've come up with 3 estimates: 70, 100 and 150 nights per year.

Q1. Which option is the best financially? How long will it take for the best option to break even with the next best option? (Assume there are no tax effects and no other costs involved.)

Q2. What other benefits and risks should you consider when making a decision?

Reference no: EM132665962

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