Is Airbnb contributing to the rental crisis?
Ashleigh Goodchild, Director & Property Management expert at SOCO Realty, who says that some pandemic measures like the rental moratorium, has also made landlords more cautious, and greater incentives were needed to encourage long-term leasing.
Nationally, rental vacancies are at an 11 year low, and at the same time, Airbnb saw new hosts increase by 30% between April and the end of June this year.
There’s no doubt that some landlords are switching over to the short-term letting market, especially in tourist regions but it’s not always about money.
Many switch so that they have more flexibility to manage a volatile real estate market. Short-term letting options allow investors time to weigh up whether to sell or rent their property out long term.
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