The Death Of Short Term Rentals
The Death Of Short Term Rentals
Catchy headline right?…
I am bullish on short term rentals (when done properly). My business is expanding, picking up new clients left and right, I’m buying “moher” properties as we speak and I think it’s a great market still.
However, there is a mass exodus on STR’s and here’s why:
1) Some buyers overpaid right when interest rates started to run away and the AirDNA was tight to begin with…
2) Or bought a home, hung a couple of scarves on deer antlers, added an air hockey table in their living room and called themselves real estate investors.
3) And finally, home owners that wanted to self-manage, had a guest that trashed the place, cleaned it themselves, said they’d never clean that again, contracted out 3rd party management and now pay 20 – 25% in management fees so all their profit is gone.
Buying right, furnishing right, watching the market trends so you can price right and have it MANAGED correctly are the pillars to success.
I can help with all of the above.
Shoot me email, or book a consult and we can chat about your property and what we can do to help.
