There’s no doubt that the short-term rental market has changed in the age of coronavirus because most non-essential businesses in the Central Valley have been closed and bookings for Airbnb’s have dried up.
Sadly, with the short term rental market looking pretty bleak right now, any owner who has a short-term rental property is faced with the decision of either letting their Airbnb continue to sit idle while they wait for the short term rental market to recover or they can convert that short-term rental property into it long term rental.
When Will The Short Term Rental Market Recover?
Even though lockdowns may end soon, and people will start going back to work, the reality is that the overall effect that coronavirus had on the short-term rental market is not going to end anytime soon.
By most estimates, the short term rental market could continue to see a serious drought for the next 90 to 120 days (or longer). Why? Even though most people may be able to begin going back to work once the lockdowns have been lifted, the reality is that the fear over coronavirus will not go away anytime soon. This is why it makes sense for owners to convert their short-term rental properties over to long-term rentals right now.
Property Management Saves Time And Money
Besides converting their short-term rentals over to long term rental properties, another smart move that owners should make is hiring a property management company to manage their long term rental properties.
A property manager likes RPM Central Valley saves owners the time, money, and hassle of having to manage their long-term rental properties themselves.
To learn more about the Property Management Services that we can offer you contact us today by calling 209-572-2222 or click here to connect with us online.