By: Will Van Vactor
As discussed in a recent Wall Street Journal article, the recent COVID-19 pandemic has impacted the short term rental market. The recent health crisis has impacted many industries, but the economic impact on short-term rentals is of particular interest in our practice. With people ordered to stay home, short-term rental reservations (including Airbnb reservations) have been cancelled on a broad scale.
For real estate investors, the crisis creates an important consideration. Should you invest in long-term rentals with (hopefully) steady, but most often lower, revenue, or short-term rentals, which can result in higher revenue, but may be subject to broader economic down turns? Of course, this is just one of many factors an investor should consider when investing in residential real estate for rental income.
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