“airbnb” impacts Central Oregon
For the last year I’ve watched as a investor couple purchased a run down, high turnover long term rental home on Bend Oregon’s desirable West Side & slowly transform the property into a appealing vacation rental with a constant flow of visitors.
My Wife and I were unsure what to expect from the new vacation rental dynamic but we have been pleasantly surprised in regards to our own livability. Before the current owners reimagined the property next door there was always a different group moving in and out of the dwelling from month to month because it had not been updated over time and was fairly ran down. It also sets on the corner of a busy road and I’m sure that helped contribute to the higher turnover rate of the property. Also, because the unit was small and not all that desirable the rents collected were undoubtedly fairly low and the tenants not my idea of good neighbor’s. Since the transformation, the home has been remodeled on the inside and yard nicely fenced with appealing landscaping added (none of which existed before the current owners made the property a vacation rental). All of the improvements have begun to attract nice couples on Central Oregon vacation or quiet business travelers who stay for a few days and then quietly depart. Its beginning to seem the properties new setup is working out for the new property owners and short term Bend visitors alike. It will be interesting to see how the increasingly popular short term rentals impact Central Oregon’s housing and real estate markets. The Central Oregon & Bend economies will certainly be impacted as short term stay services like “airbnb” continue to take hold and new technology helps property investors/owners more effectively manage their investment properties. Currently there are 341 active Bend rentals listed for rent on “airbnd’s” website.
A recent “Houzz” article discusses the developing short term accommodation trend and points out San Francisco and Portland Oregon will be amongst the first cities to collect taxes on the short term stays that “airbnb” helps to create.
Read the article in full by following the link… Read Houzz Article | Click Here!
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