Long-Term vs. Short-Term Rental in Salt Lake City, Utah: What Makes More Sense For Your Property?

Turning your property into a rental is a great way to earn passive income, build equity, and increase your overall net worth. But the real question is: what type of rental strategy makes the most sense for you?

In this guide, we’ll compare long-term vs short-term rental options, break down where mid-term rentals fit in, and help you figure out the best path forward—especially if you're located in Salt Lake City, Utah.

We’ll also show you how to get a personalized income projection based on your address.

Let's Compare Long-Term vs. Short-Term Rentals in Salt Lake City (and Mid-Terms as well).

1. Long-Term Rentals (12+ Months)

Long-term rentals are the most traditional model. You lease your property to a tenant for a year or more, typically unfurnished.

Pros:

• Consistent, predictable income

• Fewer turnovers and vacancies

• Minimal property management once leased

• Tenants often cover utilities

Cons:

• Lower monthly cash flow compared to short-term

• Less flexibility—you can't use the property personally

• Harder to adjust rental rates

• Limited opportunity to increase revenue over time

Best for:

• Busy property owners looking for simplicity

• Areas with stable rental demand

• Owners seeking passive income with minimal interaction

2. Mid-Term Rentals (1–6 Months)

Also called medium-term or monthly rentals, mid-term rentals are typically furnished and cater to traveling nurses, remote workers, contract employees, or families relocating.

Pros:

• Higher rates than long-term rentals

• Lower turnover than short-term

• Appealing in urban or hospital-adjacent areas

• Less wear and tear than nightly rentals

Cons:

• Limited demand in suburban or rural areas

• Vacancy risk between stays

• Requires furnishing and utilities

Best for:

• Homes near hospitals, corporate hubs, or colleges

• Owners who want more income but less hassle than short-term

• Furnished units that aren't ideal for nightly guests

3. Short-Term Rentals (1–30 Nights)

Short-term rentals, often listed on platforms like Airbnb and Vrbo, have exploded in popularity. These are fully furnished properties rented out for days or weeks at a time.

Pros:

• Highest income potential

• Greater control over pricing

• Use your property when it's not booked

• Unique guest experiences can generate repeat bookings

Cons:

• Higher management demands (cleaning, guest support, etc.)

• Legal and HOA restrictions

• More wear and tear

• Seasonality and market shifts can impact revenue

Best for:

• Homes in tourist-heavy or event-driven areas

• Unique properties or vacation-style homes

• Owners willing to outsource or actively manage

Comparing Long-Term vs Short-Term Rentals: Which is More Profitable?

The answer depends on your location, time commitment, and goals.

In Salt Lake City, a well-managed short-term rental can generate 2–3x more revenue than a traditional lease. But it also comes with higher turnover, more maintenance, and stricter regulations depending on your neighborhood.

Mid-term rentals are becoming increasingly viable in Salt Lake due to its thriving tech sector, hospital system, and seasonal workforce—offering a nice middle ground.

How to Choose the Right Strategy

Here are the top factors to consider when deciding between a long-term, mid-term, or short-term rental:

1. Location Demand

Salt Lake City has a growing reputation as a destination for outdoor recreation, tech conferences, and year-round events. If your property is near downtown, Sugar House, the University of Utah, or ski resorts, short-term or mid-term could outperform long-term.

2. Time and Involvement

Do you want to be hands-on or hands-off? Short-term requires either self-management or a reliable property manager (like TruStay).

3. Local Laws and HOA Rules

Salt Lake City regulates nightly rentals through zoning laws and licensing. It's critical to check if your property is in a permitted zone and whether your HOA allows it.

4. Income Goals

Are you optimizing for monthly cash flow or long-term equity? Use our free estimate tool to model the income difference.

What About Costs?

Regardless of rental model, you’ll want to account for:

• Property maintenance and repairs

• Property taxes and insurance

• Management fees (if outsourcing)

• Cleaning, utilities, and furnishings (for short/mid-term)

Short-term rentals come with more line items—but when managed correctly, they often yield higher net profits.

Real-Life Example: Salt Lake City Property Owner

Let’s say you own a 3-bedroom home near Sugar House or Millcreek:

• Long-term rent: ~$2,300/mo

• Mid-term rent: ~$3,200/mo (furnished, utilities included)

• Short-term rental income: ~$5,000–$6,500/mo depending on seasonality and occupancy

Even after cleaning and management costs, the short-term route can bring in 1.5–2.5x more—but only if the property is properly managed and located in a permitted area.

Not Sure What Your Property Could Earn?

We built a free tool that analyzes your home’s earning potential based on real data in Salt Lake City. Get a quick estimate in seconds and see what’s possible.

Click here to get your free property estimate

Or, talk with a TruStay expert for a custom analysis—no pressure, just insights.

Final Thoughts

There’s no one-size-fits-all answer. The right rental model depends on:

• Where your property is located

• Your time and availability

• Your risk tolerance

• And how much income you want to generate

At TruStay, we work with property owners across Salt Lake City to help them figure out the best strategy—whether that’s short-term, mid-term, or long-term.

If you’re still unsure, the best first step is to see what your home could earn.

Get your free income estimate here

TruStay is a full-service short-term rental property management company offering data-driven insights, performance-based fees, and no long-term contracts. We’re here to help you succeed—on your terms.