Answers to the most frequent questions from property investors
By Hanna Fitsner, local real estate agent, and Irina Esina, concierge manager, taking care of the properties sold by Best Como Immobiliare.
Which area of Lake Como is best for vacation rentals?
Lake Como attracts tourists from different countries and with very different travel styles.
Areas close to Como town (Blevio, Torno, Moltrasio, Laglio, Cernobbio) attract elite and luxury tourism. High-end villas and well-finished apartments perform best in this area.
The western shore, from Argegno to Menaggio, including the “Golden Triangle” (Varenna, Menaggio and Bellagio), is ideal for tourists who enjoy unhurried walks along the lake, historic villas and parks, local restaurants, and a slower pace of life.
The eastern shore and the northern part of the lake (Domaso, Gera Lario, Colico, Bellano, Lierna) attract younger guests and active travellers interested in kitesurfing, sailing, cycling, trekking and outdoor sports.
Our view is that almost everything can be rented, if it is priced and positioned correctly.
Features most appreciated by tourists
The elements most often requested by guests include:
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lake view,
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parking or garage; however, there is still a segment of tourists who prefer public transport, in which case proximity to the lake and the village centre is often more important than a private parking space,
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balcony, terrace or garden, which adds significant value,
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swimming pool, especially for families with children
What is the average annual income from vacation rentals on Lake Como?
Based on our clients’ experience, average gross returns range between 5% and 8% per year, depending on location, property quality, seasonality and professional management.
Today, guests increasingly expect personalised services. Even when booking through platforms such as Airbnb, they ask more and more for concierge support, flexibility and personal attention.
It is important to note that offering additional services may require the owner to operate as a business, depending on the structure and scale of the activity.
Taxation of short-term rentals updated rules (2026)
Under the Italian Budget Law 2026, the rules for short-term rentals have changed significantly.
For up to two properties rented on a short-term basis:
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the first property is taxed at a flat rate of 21% (chosen by the owner),
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the second property is taxed at 26%,
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no Partita IVA is required.
From the third property onward:
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the activity is presumed to be entrepreneurial,
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the owner must open a Partita IVA, register SCIA, apply the ordinary tax regime and register with INPS,
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the cedolare secca regime no longer applies.
This threshold was previously higher and has now been significantly lowered.
Managing rentals through portals or agencies does not avoid the business classification.
What size property works best?
Both studio apartments and large family apartments can perform well.
However, investors should carefully consider operating costs such as utilities, multiple meters and fixed charges, as well as the complexity of managing several small units and higher guest turnover.
In many cases, one well-positioned villa can generate income comparable to multiple small apartments, while being easier to manage.
Best rental season on Lake Como
The tourist season generally runs from March to the end of October, aligned with the opening of villas, parks and major attractions.
The low season is from November to February.
Conclusions
Lake Como remains one of the strongest vacation-rental markets in Italy.
High occupancy during the season is common for well-managed properties.
Rental income can significantly contribute to mortgage repayment.
Strategy matters more than ever: the number of units, the legal structure and tax planning are now critical.
Who typically chooses short-term rentals instead of long-term leasing?
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owners who want to use the property personally during the year,
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investors focused on capital preservation in prime locations,
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those seeking rental income while avoiding long-term tenant insolvency risks.
Structural change in hospitality: fewer budget hotels, new opportunities for private owners
Another important trend is reshaping the Lake Como market.
Due to the mass sale and repositioning of three-star hotels, especially in the central part of the lake, there is now a clear shortage of affordable accommodation for standard tourists. Many former mid-range hotels have been sold, upgraded to luxury concepts or closed for redevelopment.
As a result, budget and mid-range hotel options have almost disappeared, while tourist demand remains strong.
This creates a real opportunity for owners of second homes to offer well-managed apartments and houses as an alternative to hotels, serving a segment of travellers that is currently underserved and positioning private properties as comfortable, flexible and fairly priced accommodation.
In this context, professionally managed private rentals are increasingly filling the gap left by traditional hotels.
At Best Como Immobiliare, clients who purchase properties through us also have access to professional concierge managers who work exclusively with our clients.
These dedicated professionals take care of every aspect of the rental process, from guest communication and check-in to housekeeping coordination, maintenance, and on-site support.
This structure allows owners to offer a high-quality guest experience while maintaining full control over their property and rental strategy, and it helps position private homes at a professional level in an increasingly competitive market.
Looking for investment properties on Lake Como?
Please check our current selection on our website.
For further information, feel free to contact us:
+39 338 261 6725 (Pietro)
pietro@bestcomo.com
Related articles: Lake Como’s Luxury Hotel Boom: Tourism, Rentals, and Property Prices
