term rentals. I'm not sure what long term means specifically, but it is designed to not be conducive to renting to tourists. The idea is to get them rented to locals at an affordable rate for a long term.
As pointed out in the video, many of these properties were not built for long term rentals. Like they have a reception area, maybe an onsite restaurant, big commercial laundry facilities, etc. I think it'll be a mess for awhile.