Coronavirus Outbreak and Effect on Short-Term Rentals?

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Coronavirus Outbreak and Effect on Short-Term Rentals?

Tehane GallimoreBusiness Member
Real Estate Broker · Winston Salem, NC · Member since 2018 · 91 posts · 28 votes

Has anyone seen any changes in their short-term rental property activity since the Coronavirus Outbreak has started? Any thoughts on whether short-term rentals will take a hit? My first thoughts would be it probably depends on your location, but I wasn't sure if anyone has started experiencing changes as a response to the virus outbreak?

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Leora Merrell
Rental Property Investor · Member since 2019 · 276 posts · 235 votes
6y

No cancellations for us so far.

Meanwhile, I’m online looking for deals to travel somewhere new with my kids for spring break. I’m not willing to bend to the hype the media is turning this into but am willing to take advantage of the hype-caused price slashing going on. :)

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

    Our properties in the Smokies are as busy as ever.  I’m shocked by that, but my working theory is that folks still want to vacation, but they would prefer to drive there than fly or cruise, and they’d like to stay in a secluded private residence.

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  • Elizabeth Chang
    NY · Member since 2018 · 31 posts · 14 votes
    6y

    I’m certainly seeing the impacts. My properties are in urban metro cities, we are experiencing 1-2 cancellation per day due to coronavirus. People want to avoid crowds and visit major sites especially family with kids. 

    2Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    6y

    I have not seen any discernable changes. 

    I can see this hurting some locations and possibly helping other locations.

    I think it will be determined by how widespread the virus becomes.

    0Reply
  • Nick Rutkowski
    Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
    6y

    @Tehane Gallimore

    Ill wash my apartment extra thorough after I have my guests from NYC, California, and China. Thankfully it’s a very small percentage of my guests staying with me. Better safe than sorry.

    0Reply
  • Ken Boone
    Investor · Greenville, SC · Member since 2015 · 1k+ posts · 1k+ votes
    6y

    I am seeing no impact on my smoky mtn properties.  Bookings are rolling in right  now for spring and summer every day.

    1Reply
  • Ryan Collins
    Flipper/Rehabber · Houston, TX · Member since 2016 · 77 posts · 19 votes
    6y

    It's probably a little too early to tell now but I think it's a given there will be some impact. There's not enough information being provided to the public and the media is definitely pushing a fear based agenda. It will have an effect on the economy for sure. That's why they're already considering tax relief for travel & hospitality based industries. 

    I was extremely conflicted about letting a family member that lives with us travel before doing research on it. Even then it's still scary and a risk to everyone. I doubt the majority of the public will look into it as heavy.

    Sadly, I also was considering doing AirBnB right before this happened and I'll definitely be postponing that. Good luck and I hope you aren't affected.

    0Reply
  • Gururaj Iyer
    Edison, NJ · Member since 2017 · 116 posts · 34 votes
    6y
    I have had a similar question in my head last few days, I think the STR market will be impacted.  The other side is also true - many folks who cancelled their international trip would want to stay domestic.. I haven't seen cancellations as such but I expect if it gets out of hand the market will have to brace for impact.. 
    Originally posted by @Tehane Gallimore:

    Has anyone seen any changes in their short-term rental property activity since the Coronavirus Outbreak has started? Any thoughts on whether short-term rentals will take a hit? My first thoughts would be it probably depends on your location, but I wasn't sure if anyone has started experiencing changes as a response to the virus outbreak?

    0Reply
  • Leora Merrell
    Rental Property Investor · Member since 2019 · 276 posts · 235 votes
    6y

    No cancellations for us so far.

    Meanwhile, I’m online looking for deals to travel somewhere new with my kids for spring break. I’m not willing to bend to the hype the media is turning this into but am willing to take advantage of the hype-caused price slashing going on. :)

    5Reply
  • Tehane GallimoreBusiness Member
    OP
    Real Estate Broker · Winston Salem, NC · Member since 2018 · 91 posts · 28 votes
    6y

    We haven't seen any changes yet either, but most of our customers are also pretty local and within driving distance of the property. Our AirBnb is located in Beech Mountain, NC. We generally don't see too many international or long-distance travelers. It will be interesting to see how it plays out.

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  • Tehane GallimoreBusiness Member
    OP
    Real Estate Broker · Winston Salem, NC · Member since 2018 · 91 posts · 28 votes
    6y

    @Collin H. we are seeing the same in Beech Mountain, NC things appear to be holding steady still.

    [email protected]719-200-1167
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  • Janae Lacey
    Property Manager · Sunnyvale, CA · Member since 2015 · 13 posts · 3 votes
    6y

    @Tehane Gallimore I just received my first cancellation yesterday. My guest was coming to conduct a training for the city and the event was cancelled so to COVID-19 concerns and people traveling from different areas.

    0Reply
  • Obadiah Roszman
    Investor · Nw Ohio · Member since 2018 · 16 posts · 2 votes
    6y

    I was just thinking about this yesterday. I don't have a short term rental but I do frequently use them to vacation, mostly in the Caribbean. We just looked up the cancellation policy for the reservation we have in April. Our major concern is not staying in a rental that others use, rather it's traveling by plane and going through the airports. We have to go thru 3 airports each way! 

    I imagine the impact will vary by location. If we had a rental booked where we could drive to it, we wouldn't even be considering cancelling. 

    That being said I'm sure their will be people that are more prone to the fear aspect of the media reports and will think about cancelling just because. If I did have a short term rental (we are in the market for one, hence the trip) I think I would post the additional cleaning and sanitation measures that are being implemented to ensure cleanliness of the rental in between renters. I would publish these right in the listing with links to the CDC or other relevant Gov agencies recommendations. 

    Things such as;
    keeping hand sanitizer stocked in multiple locations in the unit
    Sanitizing common touch points such as door knobs, light switches, shower knobs, etc.
    Keeping hand soap stocked at sink locations.

    ...And there are many more here

    I think if you're proactive in things like these, when other owners may not be, it will make you're listing look all that much better.
    All the best!!


    - Obadiah Roszman

    1Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    6y

    As somebody said, Coronavirus panic is much worse than the Coronavirus.

    Flu kills 650,000 worldwide annually. 3300 Corona so far. Why isn't everyone cancelling en masse during the cold season for flu?

    3Reply
  • Myka Artis
    Rental Property Investor · Arlington, TX · Member since 2016 · 706 posts · 611 votes
    6y

    @Tehane Gallimore Yes it's definitely location dependent. I actually shut down my listings that were overseas and coastal. I took a huge hit when SXSW was cancelled in Austin. I'm only hosting in my smaller markets and they haven't been hit as bad as the larger markets that I host in.

    0Reply
  • Tehane GallimoreBusiness Member
    OP
    Real Estate Broker · Winston Salem, NC · Member since 2018 · 91 posts · 28 votes
    6y

    @Obadiah Roszman nice tips I will definitely consider them.

    [email protected]719-200-1167
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    0Reply
  • Tehane GallimoreBusiness Member
    OP
    Real Estate Broker · Winston Salem, NC · Member since 2018 · 91 posts · 28 votes
    6y

    @Myka Artis I can imagine that is a big deal. I wish you luck out there.

    [email protected]719-200-1167
    Wayfinder Homes - An Investor-Friendly Brokerage Firm540 Reviews
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    0Reply
  • Janelle Hicks
    Carlsbad, NM · Member since 2017 · 40 posts · 10 votes
    6y

    So far so good in New Mexico.most people drive here so bookings have been pretty normal for this time of year.

    1Reply
  • Karen ChenaillePro Member
    Real Estate Agent · Sevierville, TN · Member since 2017 · 165 posts · 137 votes
    6y

    @Tehane Gallimore I have properties scattered atrium the eastern half of the country. All driving destinations. No cancellations. In fact we have had an uptick this past weekend. 

    0Reply
  • Wendy C.Pro Member
    Realtor · Albuquerque, NM · Member since 2018 · 12 posts · 10 votes
    6y

    @Ken Latchers my RN sister in law says it's because the know what the flu is; they are still figuring out coronavirus.

    1Reply
  • Tehane GallimoreBusiness Member
    OP
    Real Estate Broker · Winston Salem, NC · Member since 2018 · 91 posts · 28 votes
    6y

    @Wendy Crismore absolutely actually before real estate I used to be a Medical Laboratory Scientist that worked in a Virology lab. When a new virus hits it does cause more alarm since we haven't seen what it has been capable of yet and what the patterns of transmission, infection rates, and severity etc are so we definitely want to be more cautious.

    [email protected]719-200-1167
    Wayfinder Homes - An Investor-Friendly Brokerage Firm540 Reviews
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    1Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    6y

    They know what the coronavirus is also, such as SARS. Flu is a rapidly changing thing to which we only have a partly effective vaccine that only some receive. But it still infects hundreds of millions and kills hundreds of thousands each year.

    that is why it is called a panic the way we are responding to Coronavirus.

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    6y
    How many coronavirus threads we got going?
    1Reply
  • Mark Futalan
    Rental Property Investor · La Quinta, CA · Member since 2018 · 263 posts · 95 votes
    6y

    We just had the BNP Paribas tennis tournament in Indian Wells CA cancelled because of the virus. This is a major 2 week event in the desert. I won’t be surprised if cancellation start coming up shortly.

    0Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    6y
    Originally posted by @Michael Baum:
    How many coronavirus threads we got going?

    It’s a thread epidemic!  Let’s start another!

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
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    0Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    6y

    Will Coronavirus threads outnumber Arbitrage fortune seeker threads over the next few months?

    1Reply
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