The rules changed, or the bookings did, and the numbers stopped working.
Short term rentals in Kentucky are regulated locally, and a property that penciled under one ordinance can stop penciling under the next.
Exit the STRLocal regulation is the variable
Louisville Metro regulates short term rentals through its ordinance, with registration requirements and conditional use permitting in some circumstances depending on the property type and whether it is owner occupied. Other Kentucky cities have their own rules and some have none.
Ordinances get amended. Owners who bought on a set of assumptions have found the assumptions no longer hold, and a permit that was straightforward to obtain became conditional or unavailable.
The market side
Supply grew faster than demand in a lot of markets. Occupancy softened, nightly rates flattened, and cleaning and platform costs did not. A property carrying an STR sized mortgage does not convert cleanly to a long term rental, because long term rents rarely support the same debt.
That gap is what usually forces the decision. It is not a failure of management, it is a change in the underlying arithmetic.
Selling furnished
STR properties are typically furnished, sometimes extensively. That furniture is expensive to store, hard to sell piecemeal, and worth very little on a resale market.
Leave it. Furnished conveyance is straightforward for us and it saves you a moving and liquidation problem. Tell us if there is anything in it you want to keep.
Five questions. That is the whole thing.
We already know your situation from this page. Change it if it does not fit.
Question 1 of 5
What people ask about this
Do I have to keep operating until closing?
No. Cancel or continue bookings as you prefer. Just tell us so we do not schedule a walkthrough into a guest stay.
Does the furniture add to the price?
It can, modestly. More importantly it saves you the cost and hassle of removing it.
What if my permit was denied or revoked?
We still buy. Permit status affects value because it affects what the property can be used for, and it does not stop a sale.
Often it is more than one thing at once
Exit the STR.
No cost, no obligation, and nobody shows up at your door unless you ask them to.