786-344-8004
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube
All Florida Home Team

All Florida Home Team

  • Our Listings
    • Featured Listings
    • Sold Listings
    • Featured Open Houses
    • Featured Virtual Tours
  • Communities
  • Buying
  • Selling
  • Lifestyle
  • Resources
    • FREE Guide to Selling Your Home During COVID-19
    • Newsletter
  • About Us
    • Meet the Team
    • Our Blog
    • Testimonials/Reviews
    • Video Testimonials
  • Contact
    • Your Referral Help Find Cure for Diabetes
    • Empty Nester: How to Sell the Place You Call Home
Advanced Search
Home Valuation

Should I Consider Selling My Short-Term Rental Property?

September 27, 2020 by Denise Madan

Spread the love

The travel industry has changed significantly over the past decade. With the popularity of vacation rentals advertised by such sites as Airbnb, VRBO, and Home Away, travelers have more options than ever for lodging during their vacation. Unfortunately, 2020 has seen a serious decline in travel due to the COVID-19 crisis and many owners of these short-term rental properties are wondering what to do.

If you have a short-term rental property, you might be wondering if this is the right time to sell. Here are a few considerations as you weigh your options:

  • Long-Term Goals – While travel is down significantly right now, this slump won’t last forever. If this property is part of your overall investment portfolio which makes sense for the long run, consider other strategies to keep the rental. If you have a mortgage, speak to your lender about payment options during this time.
  • Housing Inventory and Local Home Prices – Housing inventory is down about 20% year-over-year according to the National Association of Realtors®. Lower inventory has also prevented home prices from falling in most areas.
  • Historically Lower Interest Rates – Interest rates have dropped significantly since the beginning of the year. It might be time to refinance the property. In addition, if you do decide to sell, buyers are better positioned to buy.

This is a confusing time for everyone. The robust business of short-term rentals has certainly been affected over the past few months and the travel industry will suffer this summer. If you own a short-term rental, consider all your options as you decide whether it’s the right time to sell your property.

Filed Under: Selling

Recent Posts

  • Downsizing Made Easy
  • ALL FLORIDA HOME TEAM AND WHAT YOU SHOULD KNOW ABOUT THE FLORIDA HOMESTEAD EXEMPTION
  • Heated Flooring – Is It Worth the Cost?
  • Keeping Up With Smart Homes
  • Working From Home? What Home Buyers Are Looking for Now

Categories

  • Buying
  • Featured
  • Lifestyle
  • Market Reports
  • Selling
  • Uncategorized

Search Tools

  • Basic Search
  • Advanced Search
  • Map Search
  • Address Search
  • MLS Number
  • Home Valuation

Account Tools

  • My Account
  • Signup
  • Login

Denise Madan

All Florida Home Team
14261 Commerce Way Suite
102 Miami Lakes, FL 33016

786-344-8004
denise@denisemadan.com

Equal Housing Opportunity | Realtor | MLS

Another BREW by Ballen Brands

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are ok with this.Ok