Has The Sun Set on Short Term Rentals?
What happens to Airbnb properties when tourism grinds to a complete stop overnight? With international travel off the menu for at least a few months and probably longer, and even internal travel currently banned, owners of short-term rental properties have had that income completely cut off.
There’s been a lot of speculation as to how this could impact the property market. Will the owners of short-term rentals decide to sell? Will they switch the properties across to the traditional long-term rental market? And will that mean higher levels of supply leading to lower prices and rents?