Sometimes homeowners consider renting their current home when they purchase a new property. Usually, this means taking on a long-term tenant with a lease, but these days, many people are turning to short-term rentals. Does this sound like you?  A short-term rental (STR) is typically offered as an alternative to a hotel, and they've become super popular in recent years. You've quite possibly stayed in an STR yourself. According to a Harris Poll survey, 28% of homeowners have considered using a rental service to temporarily rent out their home for additional income. Others have rented it out themselves and saved the rental service fees.

Owning a short-term rental can be a tempting idea, but you may find the reality of being responsible for one more than you want to take on. Here are some of the challenges you may face.

• Advertising:

Successfully owning and renting a house takes work. Think about your ability to make that commitment. Of course, you can advertise your property on your social media sites yourself, but that will limit its exposure. You can also use a platform that advertises your rental listing, but most of them have specific requirements hosts have to meet, and it takes a lot of work, especially up front.

• Maintenance and Repairs:

Are you handy and able to make some repairs yourself? If you're moving more than a few hours' driving time from the rental property, you'll need a network of affordable local contractors and handy people who will be able to quickly address any issues. You'll also need someone to clean and inspect the property prior to each rental. which means screening tenants and fielding issues, among other responsibilities. Who will be the point of contact before, during, and after the rental term? You? A rental agent? A family member? Calls can come in at any time, so consider whether you want to take on the added responsibility of being a landlord.

• Furnishings:

Before renting your home you'll also need to be sure it has everything a renter will be looking for, including not just ample decent quality furniture but also bedding, bathroom essentials, a fully applianced and outfitted kitchen, smart TVs and wifi, among other things.

• Regulations:

Not only is there the upfront time and cost of owning a short-term rental, but there are also risks that could come up for you down the road, including renting your place to rude guests, theft or damaged property, complaints from neighbors, and potential regulatory violations depending on your location. Many towns have enacted ordinances regarding when, where in town, and how long properties can be rented. You will also need to collect a lodging fee that will be due to the local community.

• Risks:

Not every house ends up being a profitable short-term rental, even if your city or town allows it. One of the biggest factors is where your home is located. Most short-term renters are looking for properties in places they like to vacation or places that are close to popular attractions like beaches or theme parks. The less likely your neighborhood is to be a travel destination, the fewer requests you'll get from potential renters—and that impacts your bottom line. If you don't rent your home often enough to cover your expenses, it will just become an unprofitable burden.

There’s a lot to consider before taking the leap and converting your house into a short-term rental, so don't make the decision lightly and without doing a lot of research. It may turn out to be better to sell your home!