Since coronavirus, one thing that most investors who own short-term rental properties like Airbnb’s, across the United States have in common is that bookings from their short-term rentals have all but dried up.
Even though the president and most Governors are eager to reopen economies following coronavirus, the reality is that it's going to take the short-term rental market at least one year to recover.
This is largely because since most people have been living off their emergency funds for the last 2 months and once people go back to work, they're going to be more focused on rebuilding their emergency funds rather than taking trips or booking Airbnb’s again.
How Long Should You Rent Your Property For?
If your goal is to ultimately be back in the game when it comes to renting out your short-term rental property then you should convert it into a long-term rental only for a period of six months. Renting it out to a tenant for 6 months will provide you with options and give you the ability to turn that property back into a long-term rental by early next year.
How long does it take to convert a short-term rental into a long-term rental property? The answer to this question is it could be done almost immediately, regardless if your property is furnished or not.
At Martin Property Management, we're experts at the local rental market and can promise you that if you choose us to manage your rental property for you, we will provide you with excellent Property Management Services and help you with renting your property for the most money possible.
Some of the Property Management Services that we can offer you include tenant placement, property marketing, rent collection, accounting, maintenance and so much more!
Contact Martin Property Management
To get started with hiring a property manager to manage your Bedford area rental property, give us a call today at (617) 957-0166 or click here to connect with us online.
