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Strategies for Coping with the Corona Virus

by | Mar 29, 2020 | Guest Experience, Revenue, Special Occasions, Sustainability | 0 comments

We know many hosts are struggling as bookings are canceled due to the global pandemic.  In some locations with major medical facilities, short term rentals may be part of the solution.  In areas of the country where hospitals are few and far between, local governments are discouraging, if not outright banning short term rentals.   Depending on where you are, there are strategies that may ease the burden of this anxiety, either financially or emotionally or maybe both.  

  1. Host Medical Professionals Needing Housing 

AirBnB is actively seeking hosts to provide housing for medical professionals so that they can care for their patients while remaining separate from their families and AirBnB is waiving its fees for hosting during the crisis.

Alternate platforms like FurnishedFinder.Com specialize in finding housing for traveling nurses.  We spoke with one host in San Antonio who had included listing on both AirBnB and FurnishedFinder in their business plan, which given their very recent launch, turned out to be really smart.  They have leads for two travelling nurses who would stay for six weeks starting on April 1st. Working with FurnishedFinder is more time intensive than AirBnB as it requires the host to create their own agreements and collect payments.  It’s a bit more like being a long-term landlord, but it may be a way to find shorter-term tenants and serve the medical community.

  1. Host Individuals Who Are Self Quarantined

Folks returning from abroad or who have had potential or confirmed exposure to the virus, but are asymptomatic, may wish to separate themselves from family or more vulnerable housemates for at least 14 days.  Opening your short term rental as a comfortable home away from their loved ones is an option. Of course, if these guests develop COVID-19, a major disinfection check out will be required when they leave.

  1. Convert to Long Term Rental

This may be a time that your financial needs dictate that long-term rental may be a better strategy for you.  It might be time to sharpen your pencil and run some numbers to see if you can meet your financial obligations with a year long tenant.  Remember, one of the benefits of having rental properties is flexibility to change your business plan when you need to.

  1. Wait It Out 

We don’t know how long this is going to last, but it will end.  So if you can, take a breath, reassess and wait for things to get better.  Stay tuned over the coming days for a discussion on Guest Experience Mapping and Operations Planning that  will help you look forward to better days.

 

Have you found other creative ways to cope with the Corona Virus?  Let us know, we’d love to hear how you are dealing! And know we’re in your corner, cheering for a quick recovery after all this has passed.