Tax Smart Real Estate Investors Podcast
236. Did You Miss The STR Boom? Discover Current Trends in the STR Market with Jamie Lane of AirDNA
Aug 29, 2023
This episode features Jamie Lane, the SVP of Analytics at AirDNA, discussing current trends in the short-term rental market. They delve into the state of the market, key metrics for investors, and what to expect in the future. They also touch on the impact of the pandemic, supply and demand dynamics, and debunking claims of a housing collapse. Plus, they explore opportunities in different markets and the trends in local regulation of short-term rentals. If you're investing in or considering STRs, this episode is a must-listen.
39:25
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Quick takeaways
- The short-term rental market experienced a decline in supply due to the pandemic, but demand rebounded and reached record highs in 2021.
- Investors should be prepared for a more competitive market in the short-term rental industry and may need to work harder to maintain occupancy rates.
Deep dives
Trends in the Short-Term Rental Market
The short-term rental market experienced 18 consecutive months of declining occupancies due to the pandemic, resulting in a decrease in supply as urban rentals converted to long-term rentals and vacation homes were used by their owners. However, demand quickly rebounded and reached record highs in 2021 due to increased travel. As supply gradually returns to pre-COVID levels, occupancy levels have started to decline, but they are still higher than in 2019. Competition has intensified, leading to some weakness in pricing power.
