Short-Term Rental Investment Platform Here.Co Ceases Operations
Skift Take
In a maturing short-term rental industry, it's either consolidate or cease to exist.
Miami-based Here.co, which offered fractional ownership investments in short-term rentals, has ceased operations.
Here launched in 2022, buoyed by the pandemic-induced interest in short-term rentals. But the macroeconomic conditions and higher interest rates forced the company to shut down – effective immediately.
The company will list all the properties for sale. Upon the sale of each property, the net proceeds will be distributed to the respective investors after settling selling expenses, wind-down costs, loan repayments, and deferred fees owed to the manager, it said on its website. In its managerial role, the company will oversee the sale process, aiming for the best possible outcome
