Hurricanes are unpredictable and can have devastating effects on communities. After a hurricane, it can take days, weeks, or even months for residents to return to their homes. Even then, many people decide not to rebuild or remain in the area due to damage from the storm. Meanwhile, hotels and other accommodations tend to fill up quickly as residents leave with limited housing options available. Add up these factors—a tight housing market, a large number of displaced residents and minimal long-term housing availability—and you’ll see why short-term rentals are an ideal solution for housing displaced hurricane victims. Here’s why:
Short-Term Rentals are an Effective Solution for Displaced Residents
Displaced residents have limited options when it comes to housing. They could try to find housing in other areas, relocate to a hotel or a friend or family member’s home. However, finding long-term housing in a tight housing market can be difficult. In some cases, displaced residents who are unable to find housing must sleep in their cars or even on the beach. Short-term rentals can supply a solution by providing immediate housing options while giving residents time to find long-term housing.
Short-Term Rentals Provide Immediate Housing Options
- Residential rental properties – Residential rental properties provide short-term rental options for people looking for a place to stay for a few days, weeks or months. Some short-term rental properties allow tenants to stay for up to a year.
- Commercial rental properties – Commercial rental properties provide short-term rental options for businesses looking for temporary space away from their home offices.
- Vacation rentals – Vacation rentals are a type of commercial rental property that provides short-term rental options for tourists seeking out a place to stay while they’re visiting an area.
- Seasonal rentals – Seasonal rentals are a type of commercial rental property that provides short-term rental options for owners looking to earn extra money by renting out their homes for a certain period.
Short-Term Rentals Help Preserve the Housing Stock
One of the biggest concerns after a hurricane is the preservation of the housing stock. If too many homes are damaged or destroyed, this can drive up the cost of rebuilding. In some cases, homeowners may decide it’s not worth it to rebuild at all. In fact, a 2018 study found that hurricanes can result in as much as $1 billion in lost housing inventory. Short-term rentals can help preserve the housing stock by providing an alternative to homeowners who may otherwise decide it’s not worth it to rebuild. Plus, short-term rentals can be easily rented and re-rented when a resident must leave the area and return home.
Short-Term Rentals Help Communities Recover and Rebuild
Short-term rentals provide immediate housing options while preserving the housing stock. This frees up hotels and other long-term housing options for displaced residents who may need long-term housing. Plus, short-term rentals can be rented by tourists in the area, helping generate revenue for local businesses. This can help offset some of the costs associated with rebuilding following a hurricane.
When hurricanes strike, it can push residents out of their homes and out of the area. Short-term rentals can provide an effective solution to this problem by supplying immediate housing options while preserving the housing stock. This frees up hotels and other long-term housing options for displaced residents who may need long-term housing. More importantly, short-term rentals can help generate revenue for communities and help them recover and rebuild following a hurricane.
If you are displaced by a hurricane or some other natural disaster, companies like Capri can arrange accommodations as you rebuild your home or find a new one. Contact us to see how we might be able to help you with short term housing needs while you recover and rebuild your life.
FEMA grants can help with repair or replacement of hurricane-damaged primary homes and rental assistance for temporary housing while making repairs. Eligible counties are Brevard, Charlotte, Collier, DeSoto, Flagler, Glades, Hardee, Hendry, Highlands, Hillsborough, Lake, Lee, Manatee, Monroe, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns and Volusia.
Eligible residents of the same 26 counties listed are also being considered for FEMA Transitional Sheltering Assistance (TSA), which provides temporary lodging at hotels for eligible applicants.
FEMA also has authorized Direct Temporary Housing for Charlotte, Collier, DeSoto, Hardee, Lee and Sarasota counties and will provide transportable temporary housing units and travel trailers, as well as direct leasing of homes for eligible applicants.