Is the Short-Term Rental Market Getting Oversaturated in Your Area?
It’s tough to be an AirBnB owner in an overcrowded market. In some markets, the number of available listings almost doubled between 2020-2022.
With so many vacation homes available, some investors saw their occupancy go from 50% to 0% in 2022. This is painful, especially if you counted on the income to pay your mortgage.
In this video, Jenn shares her own experience with AirBnBs, and discuss why switching to long-term rental may be a good idea now.
What Are The Benefits of Long-Term Rental vs Short-Term Rental?
- In a long-term rental (i.e. 1 year lease), you have consistent income that is not affected by seasonality or market conditions.
- In an annual lease, tenants are typically responsible for housekeeping and minor maintenance such as replacing lightbulbs and AC filters. This means your maintenance cost for long-term rentals will be much lower.
- Fewer turnover means less overhead. In addition, the property management fees are much lower with long-term rentals.
We assist AirBnB owners switch to long-term rental so your property can be profitable again.
You can make the switch by following these simple steps:
1) Speak with our property manager, who will give you an estimate of how much your property can earn with a long-term tenant.
2) We’ll meet at your property to discuss what needs to be done to prepare it as a long-term rental.
3) We will advertise your property and start screening candidates to find you a suitable tenant.
4) After the lease is signed, you can choose to let us continue managing the property so that all day-to-day tasks are handled by our team.
Many AirBnB owners seem determined to keep competing for guests in an overcrowded market, despite lackluster results. You don’t have to be one of them!
You’ll find that a well-managed long-term rental is a true asset that provides positive cashflow as well as peace of mind.
Get Started: Contact Us
Fill out the form below to speak with our property manager. For immediate assistance please call 813-966-9324.