At the price of losing what may be an all-important local industry — tourism, renters in holiday destinations are seeing the impact of dramatic economic changes upon landlords.
This is a story that will undoubtedly change the fortunes of both renters and landlords in popular tourist regions around the world. Profit-minded landlords have paired with budget-minded tourists to create a flourishing industry in STR’s (Short Term Rentals), almost always at the loss of local long-term rental availabilities and accompanied by rising rents. Needless to say, low and no wage earners have been the prominent casualty of this trend.1
With COVID-19, the worm has turned. Tourism has dried up. Longer term rental opportunities are becoming available, at least temporarily, in tourist districts as landlords scramble to protect their investments.
Read more about the flight from Airbnb and other STR forms in The Scotsman: Coronavirus: The Shifting Foundations Of The Lettings Industry – David Alexander