Updated over 5 years ago on . Most recent reply
#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
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AirBnb no longer sticking to April 14.
#3 Short-Term & Vacation Rental Discussions Contributor
- Rental Property Investor
- Tennessee Florida
They are now giving “extenuating circumstances for Covid-19” much like if a guest calls and says their brother died and they let them out if the cancelation policy. I would expect the April 14 cancelation policy to get pushed back to May 1 very shortly.
The following guest was set to check in April 15.
The policy as of 3/27/20 is below
typed on an iPhone
Most Popular Reply
@Lucas Carl I agree with most of what you are saying and have empathy for yourself and others who are feeling the pain of this crisis.
You mention that your STR market was not effected in 2008. Problem is that STRs really weren't that popular, outside of vacation destinations, in 2008. Air BnB did not exist. Today, everyone and their mother is doing "rental arbitrage". I know you aren't, but you have to admit that every Tom Dick and Harry has been talking about it.
I know someone here in the SF Bay Area with 29 of these. Completely empty in April. At least $50K in rent due to the owners just for April. I know another local guy who raised $500K in VC money to open STRs nationwide. He was about to buy a 12 unit in a major Midwest city and have them all be STRs. I’m hoping he can back out of that one.
Many of these STR operators are going to get hit very hard. Especially if they don't own the real estate. Luckily you do, and that should help weather the storm. Good luck, I really do hope this is all over soon.