Vacation home rentals now competing with longer-term rentals due to pandemic

Lee

May 2020

Realtor.com recently reported that short-term rentals such as Airbnb, VRBO and HomeAway (that have historically been vacation/short-term rentals only) are now being forced to compete in the longer-term rental market due to the coronavirus-related decrease in travel. These companies have taken a huge hit amidst the pandemic crisis, so instead of charging relatively high per-night prices, some are now opting to rent out their furnished units for longer terms (three plus months) in order to stay afloat. If you own a longer-term rental, this new competition in the market creates a real need for a property management company with years of expertise in marketing. Let Omni compete on your behalf – check out our overview of property managment services here.