Long-Term Hotel Rentals A Lifeline In A Runaway Rent Market

Hotels are emerging as a lifeline to some in a market in which the cost of renting a home has reached record highs, far outside the budget of many....
Long-Term Hotel Rentals A Lifeline In A Runaway Rent Market
Written by Matt Milano
  • Hotels are emerging as a lifeline to some in a market in which the cost of renting a home has reached record highs, far outside the budget of many.

    In an essay for Business Insider, Suzanne Hayes describes the challenges she faced when she was notified that her landlord was selling the house she and her two children rented, forcing her to look for a new home.

    So, I hit Zillow. Two bedrooms, 1,000 square feet, $2,700 a month. Three bedrooms, 1,200 square feet, $3,000 a month. The prices were outrageous and well beyond my budget. When I finally found a place that left me feeling positive, my application was denied because my credit was subpar.

    After turning down an offer to move back in with her mom, Hayes began looking at hotels that offered long-term rentals, receiving a response from Avon Old Farms Hotel.

    “We have a two-bedroom apartment on-site that we rent out for longer stays. It’s $2200 a month and includes all utilities and hotel amenities,” the email said.

    Not only did the novelty of living in a hotel thrill her kids, but there were tangible benefits over a traditional apartment.

    After taking a look at the apartment, I signed on the dotted line. Quickly after moving in, I was told the cleaning team would be coming every Tuesday to do a deep clean, change the bedding, and swap out our used towels with clean ones. The gift of having towels laundered and stocked on top of the weekly cleaning was going to be the greatest gift in the world for me.

    The hotel’s other amenities quickly became favorites for all three.

    They quickly discovered that the hotel restaurant hosted trivia every Thursday night, and it has since become our favorite weekly activity. We swim on hot days, cook s’mores at the firepits on the weekends, and enjoy continental breakfast in the mornings.

    Hayes experience is far from unique. Around the US, markets have reached the point where middle-class families are being priced out of cities, towns, and communities they grew up in. To make matters worse, while it is possible rent prices may fall, the reality is that it is unlikely. This is especially true in high-demand markets, such as tech centers around the country.

    In the meantime, hotels may find themselves in a unique position to offer hard-working Americans another option, one that comes with benefits all its own.

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