Matt Zajechowski https://www.ipx1031.com 1m 181
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
AirBNB During COVID-19
Airbnb and short-term rental property owners have felt the first-hand effects of Americans putting travel on hold due to COVID-19.
In order to gain insight into how COVID-19 has affected short-term rentals, IPX 1031 recently surveyed both part-time and full-time Airbnb hosts as well as guests who have used the platform.
Here’s what they found:
- 47% of hosts don’t feel safe renting to guests while 70% of guests are fearful to stay at an Airbnb right now.
- 64% of guests either have cancelled or plan to cancel an Airbnb booking since the pandemic started.
- Airbnb hosts expect a 44% decrease in revenue this summer (June-August). Hosts have dropped their daily rates as much as $90 on average.
- 45% of hosts won’t be able to sustain operating costs if the pandemic lasts another 6 months (16% have already missed or delayed a mortgage payment on one or more of their properties).
- On average, hosts have lost $4,036 since COVID-19 began to spread in the US.
Take a look at the full report and let me know if this is something you can use for a story?