Any corona virus inpact on your STRs currently?

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Any corona virus inpact on your STRs currently?

Collin HaysBusiness Member
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.

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Jon Crosby
Investor · Roseville, CA · Member since 2016 · 893 posts · 1k+ votes
6y

@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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  • Lauren Kormylo
    Rental Property Investor · Phoenix, AZ and Rehoboth Beach DE · Member since 2019 · 1k+ posts · 1k+ votes
    6y

    @Michael Baum  Unfortunately, many people did think this was fake news.  Fox reported for a long time that the coronavirus danger was a hoax by the Democrats.  If you don't watch it or read about it, you may not have known that. 

    I certainly didn't believe that.  But I didn't think coronavirus would spread so easily, much more so than the flu or colds.  I also didn't think it would produce such severe illness in healthy people like it has.  They may not die from it, but they can be debilitated for many weeks or months.  I know someone who has it, and he had a fever and felt so bad, he was hoping not to die for 12 long days.  On the 13th, the fever broke.  It's been well over 2 weeks, and he is still not very well.  Having asthma, this is a disease I dread getting.  

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  • John D.
    Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
    6y

    We've been hit hard with $200k+ in cancellations from the middle of March through June primarily via Airbnb, with that said it's hard to be upset, drastically slowing down travel is the right thing to do.  Moving forward for the next few months I've gone from thinking I was going to continue to get crushed, to thinking we may get closer to break-even soon as we book some 30+ day stays from families looking to shelter in place outside the nearby cities.  County/City is requiring 30+ day stays, a call I agree with.


    It's a new world.

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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    6y

    @Lauren Kormylo, well, I can't agree with that 100%. I have watched a lot of the Fox coverage and I do know some have said things about a hoax, but it wasn't that the virus was a hoax. It was more the democrats response to the presidents actions regarding virus containment.

    I will say that most of the media downplayed the virus, but it was early on. Very little was known and what was known was misleading information provided by the Chinese government. Comparisons with the seasonal flu were made by a lot of media folks. 

    They have a lot of similarities and some differences. Comparisons were bound to happen. By the numbers, the flu is more infectious. A lot of the COVID19 deaths are inflated according to epidemiologists. If the patient tests positive for COVID19 and dies, the manner of death is due to COVID19 when it was actually an underlying condition that was exacerbated by the virus.

    Infection rates are somewhat similar between the two. The fatality rate is higher with the COVID19 infection than the flu. .1% for the flu and about 2.3% for SARS-CoV2. Other comparisons would be MERS-CoV (34%), SARS-CoV1 (10%) Ebola (65%) or Marburg (53%). These are all zoonotic viruses. 

    I just want people to understand that they need to read up themselves. If everyone is stuck at home, take some time and hit the National Institute of Health for stats. They don't tell the whole story but they provide the raw stats.

    I will say that I am less concerned than most. I worked in AIDS research back in the day. Specifically on AIDS related cancers so I have a more professional view.

    I know people are scared. It is a scary situation and the media isn't really doing much to alleviate the stress. Just use common sense. Wash your hands, don't touch your face, stay home more if you can.

    What's funny is that one leading vaccine might come from tobacco plants. Smoking something that really increases the risk of serious complications being used to fight the virus is the height of irony.

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  • JD MartinBusiness Member
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    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 17k+ votes
    6y

    This is the problem with making predictions - especially ones in print and on the internet. They live forever and tend to make one look foolish in retrospect 😉 

    The people I know who have STRs (and I'm not one of them, though I *almost was* about a month ago!) have been decimated by cancellations. 

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  • Lauren Kormylo
    Rental Property Investor · Phoenix, AZ and Rehoboth Beach DE · Member since 2019 · 1k+ posts · 1k+ votes
    6y

    @Michael Baum  Re the Fox coverage, I said the "coronavirus danger" was what they said was a hoax, not the fact that the virus existed.  Fox certainly pooh poohed the idea that it was something major to be concerned about.   And other news outlets certainly did report that this was a big deal, that's why Democrats were calling for more of a response from the president.  That was long before Fox did a 360 on the issue.

    From my research, the flu R0 is 1.3, Covid-19 is 2-2.3, so Covid-19 is substantially more infectious.  And until we can have everyone tested who needs it, we won't know the true rate for it, which I suspect is much higher.  My stepson had the symptoms, and had to fight to get tested.  He's now been waiting 9 days to find out the results of his test.  There are many who are in the same boat.

    As far as your statement that when Covid-19 exacerbates an underlying condition, it shouldn't be blamed for the death - yes it should be!  If the person did not have the Covid-19, they would still be alive.  I have mild asthma.  If I were to get Covid-19 and die of respiratory causes, by your reasoning, my cause of death should be asthma.  Sorry, but that doesn't fly.  And this disease is not scary just for the death rate, but also for the severe illness it can cause in a certain percentage of people.  I know someone going through that right now.

    Tobacco is an interesting substance, for sure.  Both good and bad qualities.

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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    6y

    @Lauren Kormylo, underlying conditions need to be listed along with COVID19 as a contributor. That is standard practice that is not always followed in these cases. I never said it shouldn't be blamed for it. Don't put words in my mouth. That isn't what I said.

    I will stick with my data coming direct from sources, not from what is on the internet/TV and my experience.

    I am finished with this conversation. Good luck and I hope you stay well.

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  • Michael King
    Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
    6y
    Originally posted by @Collin Hays:

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

    I read the OP and wondered if you still felt the same way. I work in EMS and right now I'm in Louisiana and I'm genuinely scared. My crews are saying that their friends in the industry that go into New Orleans to help, come home with the virus. 

    To the topic, I had paid $900 to a VRBO property for downpayment in Destin FL. About a month ago I emailed the owner and asked about a refund, despite the 'no refund' policy. Never heard from the owner, but then a week ago I got notification that a refund was on its way. Eventually the owner contacted me. Turns out he had no control over the deposit, VRBO arbitrarily refunded everyones deposits. The stay was scheduled for June. 

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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    6y

    @Michael King, not to put words in @Collin Hays's mouth, but your quoted post pretty much says it all.

    Thanks for your hard work and being out there. I am wondering, anecdotal information is valuable, but has all of them tested positive or just think so? I am curious about what their experiences are.

    I have had a number of people say they are infected without really knowing. They just assume. We are still on the trailing edge of cold/flu season.

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  • Collin HaysBusiness Member
    OP
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    6y

    All of the “I told you so’s” are coming out of the woods here!  You were a lot  smarter than Dr Fauci!

    “It isn't something the American public needs to worry about or be frightened about, because we have ways of preparing and screening of people coming in [from China]," 

    National Institute of Allergy and Infectious Diseases (NIAID) Director Anthony Fauci.

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  • Michael King
    Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
    6y

    @Michael Baum Thank you. It's not an easy decision to make to come work at a base in the 'hot zone'. I'm scared, my wife is scared (and pissed off with me). No one wants to transport (we do air transports) a COVID patient, since there'll be three of us in closed quarters with the pt. Then the decon afterwards, is it enough? They use foggers in ground ambulances but we can't use them in helicopters due to the sensitive equipment onboard. 

    I cautiously recommend against anyone going to get tested for COVID. I saw a reporter drive up to a roadside test station and the medic with the PPE took the sample and secured it in what I assume to be a biohazard bag, then went straight to the next vehicle to sample the next person. The medic was in view the entire time and performed no safety/decon procedures to ensure there was no possibility of transmission from the reporter to the next guy. They're doing this all day long and if the guy first in line has the bug, then everyone after that guy has probably got it now. 

    And last night I approached a medic as he was getting out of the helicopter and I asked if the patient they'd just transported was COVID. He fake coughed at me from about 5-6' away from me. People are receiving terrorism charges for this kind of behavior. 

    People are ignorant, stupid and perhaps complacent. 

    When one health worker dies from this disease, that's a tragic mistake. When there are multiple deaths of health workers, we obviously don't have a grasp of the situation and need to fear the unknown. 

    I agree, wash your hands, don't touch your face and stay at home. 

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  • Collin HaysBusiness Member
    OP
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    6y

    I went to Panda Express tonight and ordered corona chicken.  I probably should go get tested tomorrow.

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  • Mark S.
    Real Estate Investor · Houston, TX · Member since 2016 · 142 posts · 79 votes
    6y

    It's hard to ignore a lot of the mindless BS on this thread but I'll do my best.

    Yes, we've had everything cancel for the month of April, some of May and even one that stretched into June.  I did receive a notification from Airbnb that they are going to be covering 25% of rental revenue for us on a particular cancellation.  And they will be looking to retro apply to some.  However I think you have to be using a 'strict' cancellation policy.  It looks like their approach is evolving.

    VRBO is as useless as ever.

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  • Anand S.
    Plantation, FL · Member since 2009 · 329 posts · 119 votes
    6y

    That's 25% of what would've been paid out, so either 12.5% or 25%. A pittance.

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