The Covid-19 crisis has taken the Airbnb and real estate market by storm everywhere. The good news is that it will eventually come to an end and the rest of the competition will be nonexistent, leaving your property being the one of the few great options for travelers.
Tip #1: Airbnb SEO change. Airbnb’s current search engine favors properties with flexible cancelations and competitive pricing. You can still make up a lot of your losses with increased fees as well. Other tips for listings on these platforms include updated cover images that include information on the cleanliness of the units and the percentage discount with the current market.
Tip #2: Expenses. Everything that is on your expense sheet needs to be re-negotiated right now. Businesses everywhere are struggling, now is the time to really get a great deal and lower your costs. Lowering your cleaning charge by $5 can have significant net income changes.
Tip #3: Hire Us. No seriously, do it. With our marketing and systems, we are sitting at around 82% average occupancy and profiting each month. We have investors, nurses, and first responders in all of our units and we can help you do the same.
The main goal through this crisis is to survive and pick up as many more properties as you can without over leveraging yourself. Remember, the best investments happen during the worst times and the greater the struggle, the better the reward after it’s over. My families real estate team became one of the top teams in their city by just surviving through the 2008 housing crisis, it was scary going through it but we knew that when it was over that it was going to be open season with clients. The exact same thing will happen with short term rentals and corporate housing companies this year.