With the lockdown continuing across the State of California, short-term bookings have dried-up and Airbnb investors want to know if the Central Valley Airbnb rental market is going to recover?
The answer to this question is yes but, the short term rental market in the Central Valley may not recover for another 120 days or one year.
Why? Once people start going back to work, spending is not going to return to the same level as before because of the obvious reason that most people who have been living off of their emergency funds for the last 60 days are going to be focusing on rebuilding those emergency funds or looking for new jobs if they were recently laid off.
As with anything in the United States, we can expect the short-term rental market to eventually recover but following coronavirus, the long-term scars that it’s left on investors in the area may mean that more investors who own Airbnb rental properties end up converting their short-term rentals to long-term rentals.
Stop letting your short term rental property sit vacant
One of the absolute worst things that an investor who owns an Airbnb rental property can do right now is to let their short-term rental property sit vacant while they wait for the Airbnb rental market to recover.
The reality is that it could take another 30 days until California’s economy is reopened and this means that if an investors property has been sitting vacant already for at least 60 days, their property could continue sitting vacant for the coming months.
Every investor knows that the purpose of owning a rental property is to have it cash flooring as soon as possible. Thankfully when an investor turns their short-term rental property into a long-term rental, they can have their property generating cash flow once again in as little as two weeks or less if they hire a property
Contact RPM Central Valley
For more information about what’s happening with the Central Valley rental market, or to speak with us about our property management services, contact us today by calling (209) 572-2222 or click here to connect with us online.