Hopefully, people aren't looking at the gross rev figures and interpreting it to mean that properties will convert to LTR (pandemic impact of non eviction for unpaid rent where most LTRs were rented below market already and in the context of no available rental relief programs like VA and other states had pretty much was the nail in the coffin on that one) or the thinking that rental rates will generally return to the firesale pricing of the early 2010s. The gross data could support that, but the details do not.
Progressively since 2016/2017ish homes have been kept for owners and family Oct to May in larger numbers. For most owners in rental programs, the reasoning they give is either they wanted the home for themselves, or the off season damage at the lower rental rates was just too much cost. I can't blame them. there was some pause and downtrend on that in pandemic years, simply because the number of homes with PMs reduced and the number self managed or co-hosted grew. That meant they could have rents that out;paced damage in the off season. It also meant that as inflation and economic fears had a chilling effect, most returned to their own use, increased rates and cut their nights rented by 50% or more, and or shifted to furnished MTR, which returns revenue almost the same after factoring in cleaning costs and eliminates occ tax while reducing restaurant spending.
Fascinatingly, one of the better things that came from the very public embarrassment of Dare County unlawfully locking people away from their homes was not just a galvanizing effect against that foolishness and the wasting of tax dollars, but the social connecting of property owners affected. Where there were once sharp divides between LTR landlords, second homes owners, PM managed properties, and self managed rentals and very little communication between those subsets, there grew a real community sharing knowledge and expertise.
Guest want to be able to vacation within their means. Owners want to not have their homes mistreated. These aren't inherently at odds, though it has often played out that way in the past.
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