Sonya Carp and her husband own two short-term rental properties in Florida, and they have decided to list one for sale as a result of the coronavirus pandemic.
Courtesy of Sonya Carp
Consolidation is hitting the market for short-term home rentals as the coronavirus pandemic has curtailed travel dramatically this year.
Small landlords and venture-backed companies that collected properties to rent out as short-term vacation rentals are offloading them in an effort to cut their losses. Meanwhile, large property owners and managers are seeing opportunities to expand as desperate sellers and landlords seek new business.
These deals come as the coronavirus pandemic and the shelter-in-place orders that followed have devastated the travel industry. The U.S. travel economy has lost more than $195 billion since the start of March as a result of Covid-19, according to a Thursday report from the U.S. Travel Association.
Although numerous states are starting to re-open