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As summer rolls into Wilmington, short-term rentals often seem like an easy way to capitalize on the season’s tourism surge. While the concept of quick turnover and nightly rates might be attractive, many investors see long-term rentals as providing more dependable returns and causing fewer issues over time.
If you’re weighing your options this season, here’s why long-term rentals may be the smarter move.
Steady, Predictable Income
One of the biggest benefits of long-term rentals is the consistency they offer. With a signed lease in place, you know how much rent is coming in each month, which makes budgeting and planning easier. And in a market like Wilmington, where nearly 50% of residents are renters, demand for long-term housing remains high year-round. You don’t have to worry about vacancies during the off-season or fluctuating rates—you’re building income that you can count on, month after month.
Lower Turnover, Less Hassle
Short-term rentals require frequent cleaning, guest communication, and ongoing maintenance between stays. Additionally, long-term rentals have less wear and tear compared to short-term rentals, because you aren’t dealing with a new set of guests each week. That constant turnover adds up quickly—in both time and cost. Long-term tenants stay for months or even years, significantly reducing the day-to-day workload and allowing you to step back from constant property upkeep and maintenance.
Simplified Management and Compliance
Managing short-term rentals means staying on top of local regulations, tax requirements, and platform-specific rules, which can change frequently. Long-term rentals are more straightforward. By employing a property manager to oversee leasing, maintenance, and tenant interactions, your property will remain up-to-date and well-cared-for without any additional hassle.
Stronger Tenant Relationships
Long-term rentals give you the chance to build lasting, positive relationships with your tenants. Good tenants are more likely to care for the rental property, report issues promptly, and renew their lease—saving you time and money in the long run.
If you're ready to list your property as a long-term rental, looking to buy an investment property, or need help placing a qualified tenant—SPM Residential Services is here to help. We specialize in long-term property management throughout the Wilmington area with a focus on professional service and local expertise. All of our professionals are well versed in the Wilmington rental market. Contact us today to get started.