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This article is primarily about apartment occupancy but maybe it shows a trend.
If you live in one of these areas, have you seen a slow down in single family house rental occupancy too? Or, if you don’t live in one of these areas, have you seen a slow down in occupancy or do your rentals get rented fast at market value?
https://www.multihousingnews.com/post/10-markets-with-the-greatest-occupancy-loss/
There is definitely a season for rentals here in Panama. Between mid-December to mid-April the snowbirds come down to get away from the bitter cold up north. During this time, you can get top rents. I had two vacancies going in to the high season. By Christmas they were all rented.
Some landlords will only rent to long term (6-12 month) tenants where I live in Panama. But many are starting to advertise on AirBnb.com in hopes to get higher rents. I have more than one rental so I do a mixture of some long term and some short term which has worked out well.
Interesting article. In my market more and more multi family keeps getting built I don’t think the builders will stop until the funding dries up. Perhaps this means a master lease opportunity later down the line after the party stops???
Regarding short-term versus long-term leasing in Panama, how you determine which strategy to pursue? I have investments in a vacation area nearby and there are a lot of vacation houses that sit vacant during the tourist season (6 to 9 months) of the year. There is a need for affordable housing for the seasonal workers but there is also plenty of air B&B/VRBO opportunities in the area. I’m going to try get some master leases on some of these vacancies in 2018 but would be curious to know your thoughts and those of other members in terms of strategy and how best to approach owners.
Jeff
Some of my properties are closer to town (Boquete) or on a good bus/taxi route so they make better short term rentals. That’s what vacation tenants are looking for.
Other properties are 8-10km to town with no reliable bus/taxi route which makes them better long term rentals. These tenants are much more likely to own a car.
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