You should never change your business model lightly. Why Convert Your Short-Term Rental Property Advertise Your Vacant Rental Property Strategically Research Landlord-Tenant Laws in Your Area How to Convert Your Vacation Rental to a Long-Term Rental Property.

More Renters Are Looking to Work from Home.New Cleaning Protocols Mean Longer Vacancies & Higher Costs.No Bailout for Vacation Property Landlords.Demand for Short-Term Rentals Remains Uneven.Why Convert Your Short-Term Rental Property.But before you make a decision, let’s drill down and discuss specific key points that you should keep in mind. If you’re a vacation rental owner, you may have already considered shifting to long-term renting. To cut their losses, many owners have started turning their Airbnbs into long-term rentals. Airbnb hosts are experiencing financial struggles due to canceled bookings, overlapping mortgage payments, maintenance costs, property taxes, and insurance, among others.ĬNBC reported that owners have started selling their short-term rental properties after some states temporarily suspended private vacation rentals because of the coronavirus. Vacation rental companies such as VRBO and Airbnb saw a collapse in demand and revenue due to travel restrictions and the economic fallout of the pandemic.ĪirDNA’s data shows that Airbnb units in the US witnessed a sharp decline in revenue, with New York registering a drop of up to 52% since March this year. Even as the economy slowly reopens and people adjust to a “new normal,” the future of the home-sharing market remains uncertain.

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