Did COVID just destroy the short-term rental market for good?

[Klint Ruud]

An investor I work with has his entire portfolio in short-term rentals in the Nashville market. He is having to sell 10 of his 12 properties because of COVID. 

[Avery Carl]

@George Munoz it’s not Nashville specifically that is the problem, it’s that it’s a metro market. Travel to big metro areas has slowed which is why the OP’s friend isn’t booked.

Travel to regional, drivable, vacation-specific markets is booming post covid for 3 reasons:

1. People are dying to get out of their houses

2. They don’t want to get on a plane in a confined space with other people

3. They don’t want to go to big metro areas and get breathed on. The tourism market of Nashville is driven mostly by music and bars. So people don’t want to go right now.

So they choose markets that are within driving distance to take vacations.