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What are hosts doing as an alternative to STRs due to Covid?
My empty guest list and paying my lenders are weighing on me each passing day. I’ve reached out to 20 people in the medical community, but haven’t had any luck.
There’s concern that getting a longer term renter that they might get in there and not pay me.
Are any other options working for you?
Tell us more about your rental and where you host, Shane.
Also we aren’t big fans of having new, unknown members post links to websites. It smacks of spamming the forum. I’m sure if you stick around awhile you will come to appreciate this lack of spamming here.
Oh sorry about that. I’ve got 3 places in Branson, MO and another 2 in Springfield, MO. I also have one in Joplin, MO.
I’m trying to find some options out there and I figured this would be a good place to ask.
There are lots of posts here in the past about options. Just use the search function of the site. However this is primarily an Airbnb host forum and other than hosts who use the OTAs everyone has heard of like Homeaway and booking dot com there’s not a ton of discussion. Airbnb has far and away dominated the market in the US and there isn’t an obvious alternative yet.
I’m not really looking for a different booking platform as much as a way to keep my business afloat.
Have you tried contacting hospitals directly and see if you can advertise through them?
As I said when someone else asked exactly the same questions a couple of days ago. Do a google search for STRs of your type in your location and you will see which companies are offering short term lets and then you can research them to see if they are a good fit.
And of course you can set up your own website/FB page etc and do your own marketing.
Have you applied for a mortgage break…if your lenders are chasing that would be the best way to get them off your back.
Again there are a number of threads about promoting your business on your own.
The bad news is that I think there is going to be a bad recession and whether or not any particular individuals business will remain solvent is unknown. We can all use a variety of methods to promote our rentals but we will all be drawing from the same smaller pool of guests.
If I owned several properties I’d be looking to sell some.
As an FYI Branson is a tourist trap, not a major medical center. And Joplin’s a smaller town as well. Springfield might get some business travel.
Try renting it out for longer stays. I just got 28 day booking. Try doing Airbnb month to month long term rentals. It’s great for guests that are in between moves. Just change the title of your listing to “month to month rentals.”
My recent booking is a family that sold their home and are having a new one built but they’re not closing on that house until June. Hope it works out for you.
Listing your properties on more platforms won’t guarantee anything, but it can only help get more business for you, if you do it right. It seems like hosts always hit a few snags when they start listing on multiple platforms (e.g. double bookings, or missed communications, etc.).
Have you considers selling your properties? If you have a lot of equity, selling will keep you from losing it. It might be too late now, but if there’s a real estate crash like some are predicting, and you sell before the crash, you will have cash on-hand to buy after the crash.
The only folks who hit problems are the ones who skimp and try and do things on the cheap.
A decent channel manager and using multiple OTA’s is a breeze.
Why anyone, other than an in home host, doesn’t list on BDC, VRBO etc is beyond me. Seriously.
JF
You should not be relying soley on Airbnb for bookings. I was a 5 yr superhost and Airbnb deleted my listing, cancelled all future reservations and banned me from hosting after a 30 day guest wanted to leave and lied to get his refund. I had texts from him proving he was lying and the real reason he no longer wanted to spend the holidays in my home but Airbnb ignored all my calls, texts and letters. Super Host does not guarantee you will be treated fairly. Google Airbnb complaints and you will see how unethical and unfair Airbnb has been to thousands of people. You should be listed on other sites just in case. Keep contact information of yr yr regular guests and copies of you listing wording , pictures and at least 10 of yr best reviews. Your Airbnb income can be deleted for no reason and there is nothing you can do to get it back once gone Airbnb simply ignores you. Have a big damage claim? That may result in yr listing being banned. The $1M insurance for hosts protection? Cant find any host that’s collected. The bigger yr problem, the more likely Airbnb is to ignore you completly. You cant sue, you have to go to California for mediation, which could take years. Protect yrself and diversify. Airbnb is wonderful until its not. Dont think it cant happen to you. None of the thousands of hosts that have been mistreated by Airbnb ever thought that it would happen to them. And it can be devasting. Best to be prepared. Airbnb could should down due to COVID19 just to avoid paying out what they owe. They were in financial trouble before COVID19. $250M in government funds for hosts, know anyone who has reserved anything yet?
This sentence makes no sense. The $250M isn’t government funds.
If you mean the $250 million fund for certain qualifying reservations… yes multiple hosts here report getting payments.
If you mean the $17 million Superhost fund only two people here have posted that they got a grant. (That’s also no government money)
I absolutely agree with you that no one should rely on Airbnb and that no one thinks it will happen to them until it does.
That’ll be the day. Lol.
LTR is usually not any more risky than STR. We have done long-term rentals for over 12 years.
Read up on your state’s landlord-tenant laws. https://www.google.com/search?q=mo+landlord+laws&rlz=1C1SQJL_enUS846US846&oq=MO+landlord+&aqs=chrome.0.0j69i57j0l3j69i60l3.4079j0j7&sourceid=chrome&ie=UTF-8
At a quick glance, they do not appear to be overly protective of the tenant (a good sign). Some states are terrible this way, and tenants have a lot of leverage. But you are in the South so that would be a surprise.
I like listing using Zillow. Good luck.