Airbnb hosts are converting their units to long-term lets
Category Property News
Tourism is unlikely to resume anytime soon, making Airbnbs somewhat a lost cause. As a result, many Airbnb owners are converting their properties to long-term rentals, competing with those already on the market.
We have noticed Airbnbs converting to long-term rentals as early as February this year with even more doing so after the lockdown was announced.
Unfurnished properties are taking preference
Despite the flood of Airbnbs hitting the long-term rental market, unfurnished properties remain the most popular choice for tenants - so much so that many Airbnb owners are removing the furniture from their properties.
Furnished apartments tend to attract much higher rentals than unfurnished, which is an issue when affordability is a concern, as it is at the moment.
Author: Prime Property Marketing
