Converting your short-term rental isn’t a decision to make lightly. You’ve already put in a lot of work to make your property rental-friendly for all those constantly revolving tenants, as well as all the time you spent marketing your space, and ensuring that you’re up to snuff on local laws and ordinances.
Short-term rentals have seen a huge uptick in popularity in the past several years. Younger generations— that don’t tend to stay in one place long— are attracted to their convenience, and owners are drawn by their potential to garner substantial income if done right. Short-term rentals come with their own set of risks, and new obstacles seem to be emerging in real-time.
Co-living has exploded in popularity in the last decade, and it’s not hard to see why. Even before the massive social and economic upheaval that resulted from a global pandemic, the demand for affordable housing and a shared living was already undergoing a rapid increase: around 80% of people aged 20-35 are currently not living alone, and there is good reason.
