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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  • Sean Gover
    Rental Property Investor · Corrales, NM · Member since 2016 · 117 posts · 28 votes
    6y

    Update to my previous post.  We are getting reservations again after significant price drops.  Down to 16 vacant days for the rest of March from 42.  

    Also, our cleaner let us know today that she is gonna stop cleaning til all this blows over so it looks like I'll be handling those duties for awhile. 

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  • Sean Gover
    Rental Property Investor · Corrales, NM · Member since 2016 · 117 posts · 28 votes
    6y

    I'll add another update.  My business partner and I have decided to block off all available dates for the next month.  We will honor all current bookings.   We just realized that we need to do our part and minimize exposure.   

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  • Devin M.
    Real Estate Agent · NH · Member since 2020 · 23 posts · 54 votes
    6y

    We have 3 rentals in NM also, in Ruidoso.  2 Airbnb rentals and one long term... We are also blocking off the next month to comply with the mandates.  I am considering and in the process of leasing one of the short term rentals into a 6 month long term or maybe a month to month longer term rental.  This should help with covering costs during the uncertainty.

    As soon as this passes, I expect to have bookings as usual.

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