Updated: October 12, 2020
On March 14th, 2020, Airbnb announced that due to the extraordinary events and global disruption to travel caused by the COVID-19 virus, effective immediately, the company was activating it’s upgraded coverage of its extenuating circumstances policy.
This policy change allowed hosts and guests to cancel eligible reservations with no charge or penalty. The policy applied to existing reservations for stays and Airbnb Experiences made on or before March 14, 2020, with check-in dates between March 14, 2020, and April 14, 2020.
Though that change was only for a short time, Airbnb owners, in general, were already beginning to suffer from the screeching halt of the travel industry. And while the travel industry and Airbnb rentals are regaining momentum, times are still relatively uncertain. Which is why it’s important to remain steadfast and adapt in whatever means possible. Some Airbnb owners are now moving away from the short-term rental strategy and instead, turning their properties into long-term unfurnished rentals.
People still need a home to live in and investors still need the means to pay their mortgages and bills. That’s why we’re bringing you this newest addition to our suite of solutions, the STR Transition (Short-Term Rental Transition). Let us help you seamlessly transition your rental from short-term to long-term with just one phone call.
Below you’ll also find a compiled list of resources for those of you Airbnb and other short-term rental property owners who are considering moving into this new investment strategy as well.
Consider these options now for your transition:
- Hire a Full-Service Moving Company
Hire a service that will pack up your entire condo/home, load it onto a moving truck and deliver your belongings to wherever you’d like the items to be taken.
- Hire a POD Company
Pack up your investment property and have this type of company put those packed items into a POD and send it to storage.
- Have an Estate Sale
Hire an estate sale professional. A good company can provide comprehensive services with a variety of options for liquidating, including pricing your items, recording how much they sold for, and selling everything on consignment. They will help you get through the world of stuff, then deliver cash back to you.
- Choose a Charity to Donate Your Belongings to
In these trying times, there are a lot of struggling families who cannot afford furniture. Investors with more financial means that aren’t interested in making money from their household items can feel good knowing they’re helping others, while also earning a tax deduction.
- Hire a Professional Property Manager
A professional property management company will have a team of professionals at your disposal to make the completion of this transition as seamless as possible. They will help you appropriately price your long-term rental, get a great tenant, make sure your property is code compliant, manage any maintenance requests, handle all tenant communication, etc.
If you have an investment property in the Austin, TX area, we’ve also compiled a list of direct contact information for our preferred local trusted and insured vendors for each of the categories above. Each of these vendors are reliable, honest, reasonably priced, and ready to assist you in your transition from a short-term to long-term rental investment strategy.
As a professional property management company based in Austin, TX, we’re here to help you and your families through this transitionary period in any way possible. Even if you’re out-of-state or out-of-country and you have a rental property in or around the Austin area, we can assist! Don’t hesitate to give us a call. (512) 994-4323
In regards to our business functions and capabilities during this global pandemic, we are taking adaptive and preventative measures at this time to keep our staff and clients safe while remaining unwavering in our business continuity. Our team here at 1836PM is still working diligently to provide the very best service we can to our clients.
Click the video below to listen to a few words from 1836PM founder, Matt Leschber, on how to transition your short-term rental into a long-term investment strategy.
By: Kayla Gonzales, 1836PM Marketing Manager