AIRBNB / Rental Arbitrage during COVID-19
Hi everyone. My wife and I run a small Rental Arbitrage business in Waikiki, Hawaii, and want to get input from other Arbitragers on how you're surviving during the COVID-19 effects on tourism. We are doing a few things to increase our "Survival rate". These things are:
-Lowering rates DRASTICALLY (dates in the near future are less than 50% of our normal rate)
-Advertising on Furnished Finder to try to house traveling nurses
-Advertising for longer term rentals (1 to 3 Months)
-Communicating with landlords about Rent deferment or reduction (How have you attempted to do this?)
-Opening up our bookings to COVID-19 responders
....
Are there any other things you guys are doing to try to cover your expenses during this time? I'm sure someone on here has found the "special sauce" that can help everyone else increase our chances of surviving.
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#5 Short-Term & Vacation Rental Discussions Contributor
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- The worst town to live in, KS
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#5 Short-Term & Vacation Rental Discussions Contributor
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- The worst town to live in, KS
Although I don't do arbitrate, I do pay the utilities on 23 doors. One of my plans is to cut cable/wifi, trash service and the cleaning each week. Electric, water and gas stay on. Someone can move in at the drop of a hat. On Monday I resume those utilities.
Crude has to be above $40/bbl, then I can keep all the utilities and the cleaning service on 366 days a year (this is an election year).