| Income |
Normally a fixed rent for the lease period. |
Changes with bookings, nightly prices, and demand. |
| Predictability |
Usually more predictable during an active lease. |
Can change from one month to the next. |
| Income potential |
Limited by the rent agreed in the lease. |
May have higher gross income potential when demand and pricing support it. |
| Operating costs |
Usually has fewer cleaning and booking costs. |
Includes cleaning, utilities, platform fees, management, supplies, and more frequent upkeep. |
| Owner use |
The property is normally unavailable during the lease. |
Available dates may be reserved, subject to bookings and the management agreement. |
| Daily work |
Usually needs less frequent operating work. |
Needs regular pricing, communication, arrivals, cleaning, and guest support. |
| Property access |
The owner may have limited access during the lease. |
The property can be checked between stays. |
| Visibility of wear and losses |
With limited access during a lease, wear, damage, or deferred maintenance may only become clear at an inspection, tenant changeover, or lease end. |
Checks between stays may help identify issues sooner, although frequent stays can also increase wear. |
| Vacancy |
Vacancy normally occurs between leases. |
Unbooked nights may occur throughout the year. |
| Furnishing |
May be rented furnished or unfurnished. |
Normally needs complete furnishing and guest-ready equipment. |
| Best fit |
Owners who value predictable occupancy and lower day-to-day work. |
Owners who value flexibility and whose property can support the additional work and costs. |