Short-term lodging cuts into long-term housing stock

By scott miller

EAGLE COUNTY — This may be the tightest winter in recent memory for long-term rental housing. An improving economy has driven demand, but supply is shrinking as more property owners decide to convert their units to short-term rentals.The success of online rental sites including VRBO, AirBnB and HomeAway continues to lure property owners with the prospect of greater returns on their investment. As more units become the equivalent of lodging, there are fewer units available for valley residents. The trend has created an obvious, yet still difficult-to-define problem.“It’s a problem, but we don’t know how big it is, and we …

Source:: Vail Daily Feed