Short-term rentals, also known as vacation rentals, involve leasing out furnished properties for a short period, typically by the week or night. On the other hand, long-term rentals involve leasing properties for more extended periods, often months or years. The decision between short and long-term rentals depends on the property's nature and the owner's goals. 

Vacation rental management can offer several advantages over traditional long-term rental management, including:

• Higher Return on Investment (ROI) due to premium rates and desirable locations.
• Flexibility to use the property for personal purposes during certain periods.
• Potential tax benefits and deductions similar to those of traditional rental properties.
• Ability to attract various guest types, including digital nomads and business travelers.
• Possibility of better cash flow during peak seasons.

 Deciding whether to self-manage or hire a management company depends on your availability, expertise, and willingness to handle the responsibilities. Self-managing can save costs, but it requires more personal involvement and time commitment. On the other hand, hiring a professional management company can relieve you of day-to-day tasks but comes with associated fees. 

 Effective marketing and management of short-term rentals involve tasks such as property listings, guest communication, cleaning, maintenance, check-ins, and checkouts. Utilizing property management software or services can streamline these processes and enhance guest experiences, leading to higher guest satisfaction and positive reviews.