Short-term Rental / AirBNB - How are you doing?

Short-Term & Vacation Rental Discussions
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Short-term Rental / AirBNB - How are you doing?

Kyle Joseph
Rental Property Investor · Hollis, NH · Member since 2017 · 108 posts · 67 votes

How are the short-term rental / AirBNB investors faring?  At what point in the future are you seeing your bookings start to pick back up?  Are locals picking up any of the near-term unmet demand?  How are pure vacation rentals doing vs rentals in urban areas?  Admittedly do not have any short-term rentals, but am curious to hear how people are navigating the current climate.

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Avery CarlBusiness Member
Real Estate Agent · USA · Member since 2016 · 909 posts · 1k+ votes
6y

@Kyle Joseph I own 6 pure vacation rentals, in 2 different vacation rental markets, one beach and one mountain. We had just enough “social distancing” guests who wanted to social distance in our places that we covered our expenses. Had this lasted a few more months we would probably have had to dip into our cash reserves. Both markets are phasing into opening up starting this week, and bookings have been steadily rolling in. Not up to non-pandemic numbers yet, but it’s swinging back towards normal.

Podcast Guest on Show How to Get More Airbnb Bookings This Spring and Summer Break
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  • Sherry Byrne
    Rental Property Investor · Springfield, MO · Member since 2013 · 109 posts · 92 votes
    6y

    @Kyle Joseph hello. I am in Springfield, Mo and seem to have a worse report than most others, sadly. My whole calendar was wiped for March (one of my best months), April, and now May. Many have also cancelled bookings for much later out in the summer. Airbnb has decided to fully reimburse all who request it, despite owner’s cancellation policies. That was bad enough. But now Airbnb is implementing a new Covid19 cleaning requirement that is going to finish off the job of making us unprofitable for as long as this lasts... probably the whole remainder of the year. It’s not that I am opposed to cleaning very carefully. We already do that and have even stepped up our cleaning protocol. But Airbnb wants to have us “certified“ to a 40 page cleaning protocol. And then we are to have either a 24 hour gap between reservations or a 72 hour gap. These measures will not allow many of us to even have 50% booking rates because of how those dates can fall. I am very disappointed as I had a good Beginning your last year. I look forward to an even better year this year. But it will probably be a total loss.

    0Reply
  • Account Closed
    Real Estate Investor · Burnet, TX · Member since 2017 · 29 posts · 17 votes
    6y

    Slow so far but not too far off pace for the year - yet.  We make our money from Memorial to Labor Day. Right now only July 4 week is booked, so that’s concerning, but hopefully people are just waiting to see and it’ll pick up.

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

    switched to all longterm furn rentals

    0Reply
  • Anand S.
    Plantation, FL · Member since 2009 · 329 posts · 119 votes
    6y

    Starting to get June cancellations. These appear to be fairly easy for guests to execute, and guests retain a full refund despite strict cancellation policies. Unfortunately these will not have any relief support from the Covid-19 fund. Summer's looking pretty dire with almost no new inquiries. 

    1Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    6y

    I'm down to 1 tenant, who is now unemployed.  He's been renting from me by the week since 2018.  I'm not charging him rent, but he is doing some roofing, plumbing, mechanical and tree trimming work for me.  I'm getting more in his work than I would if he was paying rent.

    1Reply
  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    6y

    @Paul Sandhu, I'm gobsmacked that you are down to 1.  We have houses in an oil patch in Texas, and lost tenants in the last downturn.  Our preferred tenant was an Air Force sergeant at the local base, but oil patch workers took over and rents were higher with them, and our houses doubled in value. Until the music stopped. 

    Like you, we didn't have debt on those, but people who think you can just drop rents in a downturn, do not understand that for those specific tenants there are *no* jobs, which means tenants can't pay *any* rent at all.  

    Seems like it is time to pivot to longer term rentals for a more stable, employed tenant.  WalMart? Medical staff?  

    0Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    6y

    @Kerry Baird  It was a triple whammy.  The turnaround finished, people left.  The crisis, people left. Now nobody is buying jet and diesel fuel, so anyone that was left has no work to do here.  

    The flip side to this is the fertilizer plant.  As long as farmers are planting a crop that need nitrogen, that part of the refinery will be chugging along.

    We are just going to keep the properties vacant until there is a demand for STRs.  I've had 3 calls in the last week from people doing work at a wind farm that is being built about 40 minutes away.  So I've included the wind farm contractors in my marketing campaign.

    0Reply
  • Vincent Chen
    Real Estate Investor · Philadephia, PA · Member since 2016 · 214 posts · 36 votes
    6y

    @Sherry Byrne Do you know any data for Branson MO of STR vacation?

    0Reply
  • Tom Kastorff
    Rental Property Investor · Las Vegas, NV · Member since 2014 · 138 posts · 118 votes
    6y

    Own an Airbnb STR in a CA ski town. Dead for almost two months, and the town is shut down through June 1 at the earliest. Almost everyone has left town, most businesses closed and PM's have let go of all staff who probably moved away. Hopefully they start to reopen June 1 but I am concerned at how long it will take all the supporting business (restaurants, PMs, housekeepers, etc.) to staff up to really support the tourism influx once it comes. Could be a long negative cash flow summer. Hoping the medical industry can get some control of the virus and remedies in time for a somewhat normal ski season next year, but not renewing my ski pass just yet.

    0Reply
  • Mike V.
    Rental Property Investor · Campbell, CA · Member since 2017 · 419 posts · 499 votes
    6y

    My fly to rentals in Kauai are empty. The governor outright banned all STRs (conveniently not the hotels) so operating them at this time is illegal.

    If anyone would like to stay 30+ days in a beachfront condo in Kauai, I’ll hook you up lol

    0Reply
  • Brian G.
    Rental Property Investor · Los Angeles, CA · Member since 2013 · 1k+ posts · 1k+ votes
    6y

    @Kyle Joseph we have one cabin near the Smoky Mountains. We had one 14-day booking in April but we are now pretty booked for May (24/31 nights booked). We have a 7-night June booking and one 4-night in late July/early August. Our listing went live in early March so I think we are still benefitting from the SEO boost AirBnB gives to all new hosts. We haven’t experienced a normal market yet so not sure how to evaluate where we are at currently. May is pretty booked though so I’m feeling good at the moment!

    1Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    6y
    This could last for a couple of years. Some are saying vaccine might be 2 years or never, just like AIDS. I mostly pivoted long-term rentals since November because I have other things I'm working on such starting tours. Never imagined I would sitting pretty when this happened.

    in many areas, the bloom maybe off the rose. Which leads to there is no such thing as a sure thing...
    ...
    Kerry Baird...people who think you can just drop rents in a downturn, do not understand that for those specific tenants there are *no* jobs, which means tenants can't pay *any* rent at all.  

    Seems like it is time to pivot to longer term rentals for a more stable, employed tenant.  WalMart? Medical staff?  

    0Reply
  • Brian G.
    Rental Property Investor · Los Angeles, CA · Member since 2013 · 1k+ posts · 1k+ votes
    6y

    @Mike V. Yikes. I'm feeling for you brother. Do you have a strategy to pivot given you are a fly-to destination for STR? Seems to me it might be a while before normal flying behavior resumes.

    0Reply
  • Joseph Bafia
    Investor · Raleigh, NC · Member since 2019 · 314 posts · 281 votes
    6y

    things are looking up for us in Western NC. County put a hold on all STR through 5/8, and they haven't extended as of yet. We purchased a 2nd property in the same area as our first and got it rental ready JUST before Covid, so no bookings, but we also got lucky. The lady who cleans our first property has a husband who is in an at-risk category and she needed a place to stay away from population and asked if she could stay at our 2nd one. I cut her a deal to cover mortgage and bit of expense, so we were lucky. We've already started getting inquiries for June/July and think many will jump back into vacations very soon (and our place is a very remote getaway) so we're hopeful business as usual soon.

    1Reply
  • Keith C.
    Lender · Central Florida Markets · Member since 2017 · 137 posts · 135 votes
    6y

    I finally got a payout from AirBNB I am actually very surprised, A small percentage of my actual monthly bookings on 5 units in FL but still something , Thank you AirBNB , 

    0Reply
  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    6y

    @Kyle Joseph

    I have been too busy booking guests to keep up with BP!

    I ran a Facebook ad for my most empty property did it work? I don’t know but that property now has only 12 vacant nights in May and they’re all yet to come. I raised the nightly rate and fully expect to book at least 10 of those 12 nights.

    Vacant nights in May per property as of 5/4

    12

    12

    13

    13

    15

    14

    The 14 property is in Florida and is illegal until the governor changes that, which we hope will happen today. All guests have been informed that if that does not change they will have to cancel at which point we will refund.

    I full expect the vacant nights to be swallowed up in the next few days. If they are not we will still show a very good profit for May.

    Life seems to be coming back to normal around here. 😍

    Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills
    2Reply
  • Andrew Carlson
    Rental Property Investor · Rochester, MN · Member since 2017 · 224 posts · 323 votes
    6y

    @Kyle Joseph

    Just speculating, but STR rates may go up in the near future. If fuel prices stay low, airline tickets should also stay low. People will be so eager to get out and travel. With the lower prices for flights, they may be willing to spend more on lodging.

    0Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    6y
    Originally posted by @John Underwood:

    I turned off instant bookings for now to make sure no one is coming in from a hot spot.

    I love this! STR with a little epidemiology sprinkled in. But how are you defining a hot spot?


    “Oh crap you live in Detroit?  Sorry, you can’t come right now.“

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    6y
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:

    I turned off instant bookings for now to make sure no one is coming in from a hot spot.

    I love this! STR with a little epidemiology sprinkled in. But how are you defining a hot spot?


    “Oh crap you live in Detroit?  Sorry, you can’t come right now.“

    My state just eliminated the 14 day quarantine when coming into the state. So I guess I will loosen up on what the white house defined as hot spot areas. Not sure I would accept someone from NY just yet.

     I haven't dropped in the search results so no rush to turn back on instant booking for a while.

    We want to try and have a couple days between guests as much as possible. Erring on safety over a buck.

    1Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    6y
    Originally posted by @John Underwood:
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:

    I turned off instant bookings for now to make sure no one is coming in from a hot spot.

    I love this! STR with a little epidemiology sprinkled in. But how are you defining a hot spot?


    “Oh crap you live in Detroit?  Sorry, you can’t come right now.“

    My state just eliminated the 14 day quarantine when coming into the state. So I guess I will loosen up on what the white house defined as hot spot areas. Not sure I would accept someone from NY just yet.

     I haven't dropped in the search results so no rush to turn back on instant booking for a while.

    We want to try and have a couple days between guests as much as possible. Erring on safety over a buck.

    I am just curious, what science are you using to have two days between guests?   Is that something your state is ordering?  I don't think Walmart or restaurants are allowing more than two seconds between customers.

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    0Reply
  • Michael Webster
    Real Estate Agent · Portland, ME · Member since 2016 · 79 posts · 21 votes
    6y

    Maine has put a 14 day quarantine on anyone entering the State so that has pretty much dried up any potential tourism.  Hopefully we open up for July but it's not looking good!

    0Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    6y
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:

    I turned off instant bookings for now to make sure no one is coming in from a hot spot.

    I love this! STR with a little epidemiology sprinkled in. But how are you defining a hot spot?


    “Oh crap you live in Detroit?  Sorry, you can’t come right now.“

    My state just eliminated the 14 day quarantine when coming into the state. So I guess I will loosen up on what the white house defined as hot spot areas. Not sure I would accept someone from NY just yet.

     I haven't dropped in the search results so no rush to turn back on instant booking for a while.

    We want to try and have a couple days between guests as much as possible. Erring on safety over a buck.

    I am just curious, what science are you using to have two days between guests?   Is that something your state is ordering?  I don't think Walmart or restaurants are allowing more than two seconds between customers.

     Common sense based on how long the virus lives on various surfaces.

    0Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    6y
    Originally posted by @John Underwood:
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:

    I turned off instant bookings for now to make sure no one is coming in from a hot spot.

    I love this! STR with a little epidemiology sprinkled in. But how are you defining a hot spot?


    “Oh crap you live in Detroit?  Sorry, you can’t come right now.“

    My state just eliminated the 14 day quarantine when coming into the state. So I guess I will loosen up on what the white house defined as hot spot areas. Not sure I would accept someone from NY just yet.

     I haven't dropped in the search results so no rush to turn back on instant booking for a while.

    We want to try and have a couple days between guests as much as possible. Erring on safety over a buck.

    I am just curious, what science are you using to have two days between guests?   Is that something your state is ordering?  I don't think Walmart or restaurants are allowing more than two seconds between customers.

     Common sense based on how long the virus lives on various surfaces.

    Interesting.  I own a group of franchise hair salons and we are moving through hundreds of customers per day.  I don't mean to insult you and respect your decision, but you do know that that CDC has yet to trace a single transmission of COVID-19 to touching a contaminated surface, I assume?  While it is technically possible for transmission this way - maybe if you are licking saliva off of a kitchen counter top, but that's really about it.  It's transmitted through inhalation of saliva droplets.   

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    0Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    6y
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:
    Originally posted by @Collin Hays:
    Originally posted by @John Underwood:

    I turned off instant bookings for now to make sure no one is coming in from a hot spot.

    I love this! STR with a little epidemiology sprinkled in. But how are you defining a hot spot?


    “Oh crap you live in Detroit?  Sorry, you can’t come right now.“

    My state just eliminated the 14 day quarantine when coming into the state. So I guess I will loosen up on what the white house defined as hot spot areas. Not sure I would accept someone from NY just yet.

     I haven't dropped in the search results so no rush to turn back on instant booking for a while.

    We want to try and have a couple days between guests as much as possible. Erring on safety over a buck.

    I am just curious, what science are you using to have two days between guests?   Is that something your state is ordering?  I don't think Walmart or restaurants are allowing more than two seconds between customers.

     Common sense based on how long the virus lives on various surfaces.

    Interesting.  I own a group of franchise hair salons and we are moving through hundreds of customers per day.  I don't mean to insult you and respect your decision, but you do know that that CDC has yet to trace a single transmission of COVID-19 to touching a contaminated surface, I assume?  While it is technically possible for transmission this way - maybe if you are licking saliva off of a kitchen counter top, but that's really about it.  It's transmitted through inhalation of saliva droplets.   

     I appreciate the feedback maybe I will reconsider this position. Thanks.

    Why do you think Airbnb and maybe Vrbo also are making such a big deal about higher cleaning standards? Just feel good CYA?

    0Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    6y

    Just an FYI on how long the coronavirus lives on surfaces. It can "live" up to 72 hours on some surfaces, but that is a bit misleading.

    It is considered present no matter how much of the virus is left. As little as .1% is detectable and that is below the threshold for infection. At those levels, many of the proteins have dissipated. Here is a chart that shows a comparison of SARS1 vs SARS2 (our current pandemic). It is a bit tough to follow for the layman, but it can give you an idea.
    https://www.nejm.org/doi/10.10...

    Some info I have read show the highest concentration of viruses aerosolized found are 8-12 per cubic meter. That is coming from China so it could be altered. No one knows for sure how many active viruses it takes to get infected. Some former colleagues of mine suspect about 20. Relatively low. Here is a good article that talks about viral load and infections:
    https://www.sciencealert.com/d...

    It will be hard to find this info as much of it is not being released to the general public as it is supposition. This virus is new. It is similar to the SARS virus from 2003 but there are some key differences but it is the closest model we have.

    2Reply
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