Long term outlook of short term rentals?

[Drew Lamb]

I know here recently, due to social distancing and stay at home orders, that STRs have taken a major hit. I do not own any but before the crisis I had an interest in them and have still been looking up info about the ideas and philosophies behind them.

Do you guys think this is a temporary hit that should pick back up when the market picks up or do you think that this downward trend as it relates to STRs last much longer?

Do you believe that short terms are still a good long term investment?

[Ken Boone]

@Drew Lamb It depends.  Not sure about non vacation markets, but as far as vacation markets I think this was just a bump in the road.  I took an initial hit on my vacation cabins and had to lower prices in order to fill back up.  But right now, my cabins are smoking hot and booked almost solid for the next 5 weeks or so at full price.  Bookings are back to normal as of about 2 weeks ago.