Any corona virus inpact on your STRs currently?

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Any corona virus inpact on your STRs currently?

Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes

Disclaimer: I think the Corona Virus thing is a bunch of fake news. It's no more deadly than the common cold.

That said, with all of the media hoopla about it, are you seeing any impact on your STR reservations? We are not; in fact, March is shaping up to be a record month for nights rented.

[email protected]806-672-7102

SMOKY MOUNTAIN FALLS INC.51 Review

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Jon Crosby

Investor · Roseville, CA · Member since 2016 · 893 posts · 1k+ votes

@Collin Hays I personally have not but I'm on a forum with other STR owners in my area and they have received a few cancellations out of the Bay Area. Which is funny, because I would think if were scared of the virus, being isolated up the mountains and out of the city is exactly where you would want to be! :)

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Ken Latchers
Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
6y
Nobody cancels events because 650,000 people die annually from influenza. We have a vaccine which is barely 50% effective.
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Carolyn Fuller
Cambridge, MA · Member since 2015 · 651 posts · 736 votes
6y
@Ken Latchers The difference between our current seasonal flu and this new virus is currently expected to be 20 times the fatality rate worldwide. Hence, the cancellations.
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Ken Latchers
Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
6y
There is a large difference between expected and wildly speculated. Swine flu, SARS, Ebola, were all going to wipe a broad swath through the world.

Flu does this annually.

posted by @Carolyn Fuller:
@Ken Latchers The difference between our current seasonal flu and this new virus is currently expected to be 20 times the fatality rate worldwide. Hence, the cancellations.

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Carolyn Fuller
Cambridge, MA · Member since 2015 · 651 posts · 736 votes
6y
@Ken Latchers You are correct that, particularly in the case of the Swine Flu and Ebola, early predictions of the spread did not pan out but the spread of covid-19 has already outpaced what was expected.
To quote a former CDC director:
"In just two months, the novel coronavirus spread from a cluster in Wuhan, China, to an impending global pandemic with cases in more than 60 countries. This is unprecedented. Never before has a new pathogen emerged and caused a global spread like this."
At this point, we human beings can have an impact on how covid-19 behaves. If we work from home when we have a fever and cough instead of going into the office, it will make a huge difference. One of the biggest reasons the 1918 influenza was so devastating was the fact that people with mild symptoms did not change their behavior. They continued to go out. They continued to congregate in crowded places. No events were cancelled and the results were that 20 to 50 million people died from that pandemic.
When companies and governments cancel huge events they are behaving responsibly not irrationally.
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Ken Latchers
Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
6y
The 1918 was practically the stone age compared to 2020. They had barely moved past bloodletting and leeches compared to now. We are talking about six years after when they decided the Titanic didn't really need life boats because it was Unsinkable.

Projecting and panicking doesnt help anyone.
1 Reply
Anand S.
Plantation, FL · Member since 2009 · 329 posts · 119 votes
6y
Just got this
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Anand S.
Plantation, FL · Member since 2009 · 329 posts · 119 votes
6y
This should be peak season
0 Reply
Diana J Adams
Rental Property Investor · Tampa, FL · Member since 2017 · 13 posts · 5 votes
6y
I found this article from Cato Institute interesting: https://www.cato.org/blog/misl... Google "The Misleading Arithmetic of COVID-19 Death Rates" in case the link doesn't come through.
The Smoky Mountain STRs are winning again in this scenario. Most guests drive there. I have some friends that were going to fly in for Spring Break next week. They canceled their flights and are driving instead because they have a young baby and just don't want to risk it.
I have one cabin, it's 80-90% full through July and people are still making reservations. I haven't had a single message about the Coronavirus. Tennessee did just get their first case this morning though so that could change.
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Kevin Lefeuvre
Los Angeles, CA · Member since 2016 · 565 posts · 391 votes
6y
Just got my first cancellation due to Covid-19 for a checkin in 2 days. And guess what, the guest mentions Extenuating Circumstances and refers to airbnb's link on the subject:
https://www.airbnb.com/help/article/2701/coronavirus-information-and-extenuating-circumstances-policy
If you are a long time host you probably know what it means for you as a host, regardless of your cancellation policy.

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Mark Futalan
Rental Property Investor · La Quinta, CA · Member since 2018 · 263 posts · 95 votes
6y
So far the Coachella and Stagecoach music festivals are still on in Indio Ca. despite all the virus scares
https://patch.com/california/palmdesert/coachella-stagecoach-festivals-still-despite-coronavirus
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Carolyn Fuller
Cambridge, MA · Member since 2015 · 651 posts · 736 votes
6y
Originally posted by @Kevin Lefeuvre:
Just got my first cancellation due to Covid-19 for a checkin in 2 days. And guess what, the guest mentions Extenuating Circumstances and refers to airbnb's link on the subject:
https://www.airbnb.com/help/article/2701/coronavirus-information-and-extenuating-circumstances-policy
If you are a long time host you probably know what it means for you as a host, regardless of your cancellation policy.
I just received email from Airbnb stating these extenuating circumstances only pertain to hosts who are hosting in or welcoming guests from China, South Korea, and certain locations in Italy.

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Kevin Lefeuvre
Los Angeles, CA · Member since 2016 · 565 posts · 391 votes
6y
@carolyn. Yes I saw that but that may have changed already. That's not what the link I shared says. I'll know pretty soon if they hold the payout or not.
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John D.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
6y
We had two cancellations today, claiming as a result of the CV, for stays coming up in a few days. Thus far Airbnb is saying they will not refund the guest as it does not quality for their extenuating circumstances, hopefully they do not reverse course on that decision.

My understanding is right now the only valid CV cancellation is if you are travelling from overseas from China or a couple of other countries and your flight was cancelled, or if you are military or medical and and being called to service (existing interpretation of the special circumstances policy as they explained it). Subject to change at any moment though.
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John D.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
6y
@Mark Futalan We know a few people that work with/for Goldenvoice, unless something changes drastically the Festivals are still on. This will impact last-minute demand for rentals though as many people will choose to not attend, I am concerned our houses that are not yet booked won't get booked, or will get booked at way below usual rates.
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Mark Futalan
Rental Property Investor · La Quinta, CA · Member since 2018 · 263 posts · 95 votes
6y
@John D.
Hey John, good to know.
Totally agree. I have a few other investor friends in the area who are seeing the same thing. Some are already dropping rates and worried that people are going to stay home or that the festivals will be cancelled like what was done with Ultra and South by Southwest. Most people are on defense right now and playing be ear.
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Anand S.
Plantation, FL · Member since 2009 · 329 posts · 119 votes
6y
Just had my first cancellation. Luckily I was able to keep half. I told the guest that if I rebook I would give him a full refund. It's only 2 weeks away so not feeling confident.
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Mark Futalan
Rental Property Investor · La Quinta, CA · Member since 2018 · 263 posts · 95 votes
6y
@John D.
How are you and your team handling the tennis tournament and Coachella cancellations with Airbnb? I have a strict cancel policy but many guests are private messaging us for full refunds and Airbnb is calling us as well to see if we would like to do any type of refund.
0 Reply
John D.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
6y
@Mark Futalan WOW been busy with cancellations, proposed cancellations, and questions. At this time the cancellation of the event and the CA state of emergency does not trigger the airbnb extenuating circumstance policy. Guests cancelling are subject to our strict cancellation policy. With that said, we are looking at how to relocate our Coachella and Stagecoach guests to the new October dates, will likely charge a small fee for that given the dates they booked in April that have been tied up will be hard to rebook last minute.
0 Reply
Mark Futalan
Rental Property Investor · La Quinta, CA · Member since 2018 · 263 posts · 95 votes
6y
@John D.
Wow is an understatement haha. Been doing the same as well the past 2 days. That’s a reasonable option. My only concern is that we give them full refunds and have them rebook to October and they turn around and cancel within 48hrs of our strict cancellation policy. But maybe this is something we can structure internally with Airbnb on their end..
0 Reply
Anand S.
Plantation, FL · Member since 2009 · 329 posts · 119 votes
6y
I'm having to deal with this as well. Most folks don't qualify for a refund per ABB's policy. However, it does seem crude to just reject their request for a full refund. What type of copy are you guys using to cushion the blow when communicating to your guest that they will not get a full refund?
0 Reply
Carolyn Fuller
Cambridge, MA · Member since 2015 · 651 posts · 736 votes
6y
@Anand S. Here is what I'm telling folks:
"There is a 50% refund for cancellations made at least 7 days before check-in. No refunds for cancellations made within 7 days of check-in.

But...

You can apply for a full refund through Airbnb's "extenuating circumstances" program. You should find a link on their home page for instructions on how to apply for a full refund."
Of course, this means that Airbnb ends up calling me asking me to give the person a 100% refund which I refuse to do. I, personally, think it is reasonable to split the financial burden that we are all experiencing.
I won't be requesting a 100% refund from the hosts I've booked with for a wedding in early May. I'm about 90% confident we will have to cancel our plans to attend the wedding. I don't think the host should bear the full financial burden of this pandemic.
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Elisabet E Manasanch
Stanley · Member since 2017 · 11 posts · 2 votes
6y
@Collin H.
I cannot believe anyone in this forum saying this is fake news! I already knew 5 weeks ago that this was a bad pandemic! How did the government not know and go on TV to say that is a hoax and fake news? You all need to stop using the word fake news as a blanket statement every time you see something that you don’t like or you don’t understand!
One of the toughest things I have ever seen in my life is the president go on TV and lie about this to our faces when I knew what he was saying not true in an issue that kills people.
We had very good reports from China and Europe by January /early February about how serious this was and nothing was done- plus people like you in forums just repeating the false mindless message of “it will just pass around here”... bla bla bla... “it’s fake news”...
Covid19 is very serious people - you better all be sheltering in place. People are dying alone in hospitals because loved ones are not allowed in to see you at all. Babies have died. Young people- doctors and nurses,etc.
Have some respect and apologize for being part of the problem why this is so out of control right now.
The economy will recover, STRs will be fine. Of course many cancellations and companies shutting down. Less revenue. Financially tough right now. But this will recover. If you die in this pandemic however, you are going to die completely alone and you are not coming back.
Hopefully it doesn’t get to hundreds of thousands of dead people... it could get there if people don’t stay at home.
0 Reply
Elisabet E Manasanch
Stanley · Member since 2017 · 11 posts · 2 votes
6y
@Ken Latchers
The scientists were not wrong.
0 Reply
Michael BaumPro Member
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
6y
@Elisabet E Manasanch, I don't think anyone thinks the virus is fake news. Like so many others you have mis-characterized what was said weeks ago.
Just a few facts. Only one baby has died from COVID19 in the US. One in China. The infection rate of children (based on known infected) is 2.1% as of March 17th (the newest data I could get). Only one child has died from COVID19 in China in the 10-19 year old range. No other info available on that.
The above data suggests that children might get the virus just as frequently, but their symptoms are so mild or non-existent as to go unnoticed/reported.
We had no reports of the seriousness of this virus from China at the time you mentioned. They were downplaying it at that point. It was only after it started to ramp up here and in Europe did we come to understand how virulent it is compared to cold/flu viruses.
The current death rate in the US as of yesterday is 2.16%. Lowest in the world is South Africa at .37%, the highest is Italy at 11.75% (co-morbidity plays a huge roll here). This data could be skewed due to not knowing the full extent of the infected. It could be much lower.
These are just raw stats. The main point I am making is to take the time to read about what is going on and not just rely on the sensationalism that seems to be part of mainstream coverage. Don't get hysterical about this. Yes it is a problem. People with underlying conditions are at much greater risk.
Bottom line, stay home and outta the way if you can. Stop hoarding toilet paper. Wash your hands regularly. Stop touching your face.
It isn't wrong to be worried about your financial well being. The devastating effects of the shutdown will be very severe and last a lot longer than the pandemic.

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Collin HaysBusiness Member
OP
Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
6y
Originally posted by @Elisabet E Manasanch:
@Collin H.
I cannot believe anyone in this forum saying this is fake news! I already knew 5 weeks ago that this was a bad pandemic! How did the government not know and go on TV to say that is a hoax and fake news? You all need to stop using the word fake news as a blanket statement every time you see something that you don’t like or you don’t understand!
One of the toughest things I have ever seen in my life is the president go on TV and lie about this to our faces when I knew what he was saying not true in an issue that kills people.
We had very good reports from China and Europe by January /early February about how serious this was and nothing was done- plus people like you in forums just repeating the false mindless message of “it will just pass around here”... bla bla bla... “it’s fake news”...
Covid19 is very serious people - you better all be sheltering in place. People are dying alone in hospitals because loved ones are not allowed in to see you at all. Babies have died. Young people- doctors and nurses,etc.
Have some respect and apologize for being part of the problem why this is so out of control right now.
The economy will recover, STRs will be fine. Of course many cancellations and companies shutting down. Less revenue. Financially tough right now. But this will recover. If you die in this pandemic however, you are going to die completely alone and you are not coming back.
Hopefully it doesn’t get to hundreds of thousands of dead people... it could get there if people don’t stay at home.

Obviously that was a full month ago and I was dead wrong. My apologies.

[email protected]806-672-7102
SMOKY MOUNTAIN FALLS INC.51 Review
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