Rapidly increasing rental prices and a dwindling pool of vacation rentals could make rentals too expensive or hard to come by for many Canadian snowbirds.
TORONTO, ONTARIO, CANADA, May 12, 2022 /EINPresswire.com/ — Canadian snowbirds seeking vacation rentals in the U.S. sunbelt next winter may find themselves out of luck, according to a recent article from Snowbird Advisor.
Canadian snowbirds already saw significant increases in rents this past winter – a trend that is only expected to worsen next season.
“During the pandemic, a perfect storm of events has occurred that has sent the cost of vacation rentals sky-high in many popular snowbird destinations in Florida, Arizona, California Texas and South Carolina,” said Stephen Fine, Founder, Snowbird Advisor.
“Americans from northern states are moving to the sunbelt in large numbers. Many of them are buying former rental properties where they are now living permanently, reducing the number available of rentals and pushing rents higher.”
“The pandemic has caused a huge shift in where people want to live, driven in part by the ability to work from home, forced early retirement, and people wanting to live somewhere warmer so they can be outdoors,” said Fine.
In addition, Boomers in both the U.S. and Canada are retiring in large numbers, creating even more demand for snowbird vacation rentals.
Finally, inflation has also increased the cost of operating a rental property (i.e. utilities, maintenance and insurance), and these costs are being passed along to renters in the form of higher rents.
Fine estimates that in popular Florida snowbird destinations, rents have already risen by 50% or more and says snowbirds should start looking now if they have not already secured a place for next winter – and be prepared to pay more.
The full article can be found here on the Snowbird Advisor website and includes tips on how to find a rental in the sun this winter.
About Snowbird Advisor
Snowbird Advisor is Canada’s authoritative one-stop resource for Snowbirds – providing tips, tools and services for Canadians who want to spend their winters abroad.
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