Airbnb Portland – Now Is the Perfect Time to Convert Your Short-Term Rental to A Long-Term Rental Property
Do you own an Airbnb Portland rental property? If so, you may be faced with having to decide what you should do with your short-term rental property now that bookings have gone flat following coronavirus.
Thankfully, you have options thanks to the long-term rental market. Your property doesn’t have to sit vacant for any longer because you can turn it into a long-term rental property and start earning income from that property once again.
The Case for Long Term Rentals
There’s no doubt that the short-term rental market has been enjoying huge growth over the last 5 years but the reality is that the explosive growth of Airbnb, VRBO and the short-term rental market as a whole is thanks in large part to a Bull Market that was going for 10 years.
Airbnb was never really tested by a Bear Market and coronavirus is showing what happens can happen to the short-term rental market when a major catastrophe occurs.
Thankfully, the short-term rental market remains a stable place for owners during coronavirus because people will always need long term housing so there will never cease to be a demand for it.
Will the Airbnb Portland Rental Market Come Back?
Once coronavirus finally ends, and people go back to work, the Airbnb Portland rental market will come back eventually.
As Portland and most cities across the United States still struggling with coronavirus, it’s possible that the short-term rental market may not start its comeback into the fall. This is why it makes sense for owners who have Airbnb Portland rental properties to turn those properties into long term rentals now.
Rental Portland Homes – Professionals Can Help!
At Rent Portland Homes – Professionals, we’re still working during coronavirus and can help you turn your short-term rental into a long-term rental property.
We have a property management team that can assist you with every property management service that you need including rent collection, maintenance, customer service and more!
Contact us today at (503) 447-7735 or click here to connect with us online.