3. is it competitive?
Once you have determined that your rental business is legal and makes financial sense for you, you must determine whether your rental will be competitive in your market.
The location of your space is the most important consideration. Not all places are suited for a short-term rental business. Some places, despite the amazing location, may only make sense only seasonally.
Think about what it will take to get your rental up to par with your similar rentals in your area: