You’ve seen all the headlines, and you’re all caught up on what’s happening… now, what should you do as an Airbnb host? The Coronavirus pandemic seems to be the only thing on the news and in our feeds. And it’s no surprise since it has disrupted different markets nationwide, including the real estate market.
Earlier this month, Airbnb CEO Brian Chesky announced a $260 million Airbnb relief package for Airbnb hosts. Still, real estate investors and hosts need alternative means to survive this pandemic. One way to do so is by converting their short-term rental properties into Airbnb quarantine properties. Continue reading this blog to find out how you can turn your Airbnb into a quarantine pad.
The Effect of the Coronavirus on Airbnb and Airbnb Hosts
The travel industry is among the most affected by the novel Coronavirus, with travel bans and strict social distancing measures imposed in the United States, as well as globally. COVID-19 has certainly affected Airbnb as a company, and all of its stakeholders.
These include Airbnb investors, hosts, and guests. Airbnb bookings have plummeted which is reflected in the decline in Airbnb occupancy rates and Airbnb rental income that hosts have recorded. In the US, the most affected cities are Miami, Boston, Los Angeles, Chicago, Atlanta, and Dallas.
The Need for Innovation
Our generation has never lived in such uncertain and volatile times. But dire times call for innovative measures across different markets and businesses. For Airbnb hosts and real estate investors, this has come as a shift from renting vacation homes to renting quarantine pads.
To keep making money, vacation rental property investors had to change their business model. And while some investors are choosing to shift to the long-term rental strategy, others are looking into another alternative: QuarBNBs, short-term rental properties used for self-quarantine.
Is There a Need for QuarBNBs?
Yes, and very much so.
Several segments of society are choosing to self-quarantine away from their families and loved ones to protect them from catching the virus. Among these are front-line personnel and COVID-19 first responders such as medical professionals, police officers, and other essential workers. These people are going to work every day, and are risking possible contagion.
In addition, thousands of college students and travelers have also gone back to their family homes, and are choosing to self-quarantine for the duration of 14 days – the virus’ estimated incubation period. Finally, you have the families or individuals who are simply looking for a more spacious property to pass quarantine or to escape busy areas.
The above tells us that there is a need for quarantine pads. So how do you convert your Airbnb into one? The way you’d prepare an Airbnb pad for quarantine is quite similar to the way you’d prepare your own home for quarantine. Check out the following tips…
1. First and Foremost, Follow Airbnb’s New Content Policy
Airbnb has drafted a new content policy related to the global pandemic. Any hosts currently listing their rental properties need to abide by the new content policy. The policy dictates that hosts “may not reference COVID-19, coronavirus, or quarantine in listing titles.” Hosts are instead choosing to use terms such as “wellness getaways”, “rural getaways”, and “cityscapers” to describe their Airbnb properties.
Furthermore, the policy states that Airbnb listing content should not contain any misinformation about COVID-19 or any false health claims. Listings should also refrain from encouraging any activities that violate imposed health restrictions, including the encouragement of parties, social gatherings, or related activities.
And while Airbnb currently has fewer staff members available, they promise to continue investigating hosts who do not comply with the new terms and to hold them accountable.
2. Change the Airbnb Property’s Availability Settings
If you had previously set up booking restrictions, adjust accordingly. Make it possible for guests to request rental properties for longer periods such as 14 – 30 days, the expected time Airbnb guests will need to quarantine.
3. Stock Your Quarantine Pad With the Basics
Make sure that the quarantine pad is stocked with the basics. This includes soap and toiletries, and some food items, perhaps coffee, tea, snacks, etc. You can also include some basic canned good items, but it’s not necessary.
Moreover, you could throw in some cleaning products and hand sanitizer, which will surely be appreciated. Yes, it may be difficult to find everything you need during this time – so buy whatever’s necessary and don’t hoard.
In your Airbnb property description, you could also highlight the fact that the property is well stocked. But be mindful of sounding like you’re taking advantage of the current situation to market your Airbnb property. Just simply state the fact that the rental property is stocked with x, y, and z.
4. Set Up a Small Office Spot
The majority of people have shifted towards studying or working from home. So creating a simple office set up to accommodate any Airbnb guests who are working from home can be a “selling” point for your quarantine pad.
5. Consider Investing in Home Exercise Equipment
Home workouts and exercise routines are becoming more popular as people practice social distancing. So consider investing in an exercise mat and a few weights… but nothing too excessive. This can be another selling point for your Airbnb quarantine pad.
6. Thoroughly Clean the Quarantine Pad Between Guests
We cannot stress this enough. Research has shown that Coronavirus is transmitted among people through droplets. And according to medical professionals, Coronavirus can stay on surfaces for several hours.
Even if your last guests did not show symptoms of COVID-19, it is still crucial to thoroughly clean the rental property with the right supplies once a guest leaves the quarantine pad.
A Few Last Words…
If there’s one thing we’ve learned over the years, it’s that successful real estate investors can adapt and ride out tough real estate market conditions. And while our current reality is rather brutal, there are still ways to alleviate its effects. Renting out an Airbnb as an escape pad is one way to attempt to make the best of the current situation.
Finally, stay updated on the latest news. Airbnb is citing its resource center to help hosts cope with the effects of the coronavirus pandemic. Also, continue to check any changes in the CDC and WHO guidelines. Be sure to follow Mashvisor’s blog to stay up to date on coronavirus real estate trends. And most importantly, stay safe!