How have short-term rentals changed amid coronavirus? Jason interviews Evan on his recent short-term rental purchase and how bookings have changed. Once again, this proves the shift from high-density living environments to low-density dwellings.
Stay tuned in to hear from a local market specialist with details on Jacksonville, Ocala, Palm Coast and Atlanta. What information can we learn about current mortgage rates and how they compared to rates post 9/11?
[4:00] Closing on a potentially life-changing short term rental, with Evan
[7:30] Airbnb property manager is using dynamic pricing
[9:45] Lower density areas are perks for short-term rentals, especially if they are in driving distance from high density locations
[14:45] Real estate, if you can stay when others fold you’re really in good shape
[18:00] Part II – with local market specialist
[26:22] Current mortgage rates are better now than we’ve ever seen
[27:40] Updates on Jacksonville, Ocala, Palm Coast, Atlanta
Short-Term Rentals Will See Longer Bookings at Lower Rates
My prediction in this very unusual Black Swan era is that we will see longer bookings in short term rentals but at lower rates. Basically you’re bulk discounting your nights.
Airbnb Rentals In Lower Density Areas Will Perform Better
The short term rentals that are going to do okay, or even quite well through this crisis, are the short term rentals where you’ve got a desirable destination, either for vacation or business, that’s lower density than where people would be coming from.
Short-Term Rentals Within Driving Distance of Large Cities
Also, driving distance is a key thing because people don’t want to get on airplanes or cruise ships. If they can drive from a higher density environment in Orlando or Atlanta or any other area, which would be drivable to your short term rental, they can reduce their risk and be in a lower density environment. Maybe their cruise or airplane trip got canceled or they canceled it because they just didn’t feel comfortable getting on a plane, and they want something they can drive to.