New to renting my property. I’ve been pretty busy this ski season, but nothing booked for summer. I’m in Salt Lake City, Utah. Should I go for some long term renters 60-90 days, or just hope it fills up. I have had about 50% occupancy since Thanksgiving, which I’m happy about. Thanks
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What does your research of the local market suggest?
JF
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Our calendar has slowly but surely filled up this month. Seems to me like people are feeling uneasy about traveling right now (rightfully so) and aren’t booking things too far out.
For reference: I’m in the Denver metro area. Our current booking is a four night stay where they plan to snowboard for a couple of days. They booked two days before check in.
I agree with @JohnF have a look at local market research in terms of occupancy rates and factor in Covid etc to see whether you are likely to get the footfall you need through STRs @Cydl
We can’t advise you as we don’t know what the market is like for your type of property, in your location and what your competition is like.
I agree with lauren that people are waiting to make reservations due to so much uncertainty. In addition to Airbnb I board dogs in my home and I have three reservations on the books, the latest is one for spring break. People just aren’t making travel plans in advance.
Longer term rentals have many problems of their own and I’d advise patience, you’ll get summer bookings.
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