Disclaimer: These suggestions are recommended for short-term vacation rentals that are located outside of isolation zones. These statements are merely suggestions and should not be taken as official guidelines. Please pay attention to local announcements and follow the latest health and safety protocols and recommendations from the World Health Organization.
With the outbreak of the coronavirus (COVID-19) and its impact on the short-term rental industry, it’s hard not to be worried about possible losses and business risks alongside health-related concerns.
As an Airbnb host, you have to understand that your business might be affected by this global pandemic, particularly by cancelations from guests traveling from severely impacted countries or cancelations due to the outbreak of the pandemic in your country, among other possible scenarios. However, it is possible that you maintain and even boost your bookings despite the pandemic.
We gathered these suggestions to help you sustain the growth of your business during the outbreak. Read on to find out how to protect your rental and incoming guests from COVID-19, as well as how to encourage bookings and manage cancelations.
When it comes to your short-term rental business, keep yourself informed. Educating and preparing yourself instead of panicking is imperative. Now, more than ever, it is of great importance to remain flexible and plan ahead in order to keep things under control.
You will probably have to adapt since there will be more last-minute decision-making by guests as well as local authorities and even airline companies. Although your destination might not be affected and it seems like it is unlikely to be, it is still crucial to be mindful of guests’ concerns and be flexible when it comes to rearranging/canceling trips.
There is nothing you can actually do to stop the pandemic or help undo the effect of COVID-19 on the industry, but you can focus on taking extra steps. Follow these strategies to help put your short-term rental business in a much better position.
The COVID-19 outbreak shouldn’t influence your decision to keep running your business. In fact, it is strongly recommended to keep your listings online since the deactivation and reactivation may do more damage to your ranking than a slow period.
It is of the utmost importance to stay calm even if your revenue decreases because that doesn’t mean it’s the end of your business. Most vacation rental businesses can sustain their functioning for 2-3 months without any income (in the worst scenario). Calculate how long your business can go without any profit.
According to the experts, the virus outbreak won’t last longer than 90 days, and in two months, the situation should generally improve. Therefore, if your business can sustain itself for two months without income, there’s no need to panic or make reckless decisions.
This temporary pause in business may be a good time to review the way you run your business and think about ways to improve it. This strategy will ensure you are ahead of the curve when everything goes back to normal.
Lowering your prices may not necessarily be the best approach. Some hosts rush to reduce their prices to attract more bookings in fear of the slow period and consequently cause harm to their business. However, what you should do is continue to monitor your local competitors’ prices and adjust yours accordingly.
Due to the outbreak of the COVID-19 virus, there’s been a decline in travel. Fewer international tourists are willing to go abroad, and some countries, such as the US, have closed their borders. That is why you should focus on and target domestic travelers.
Now is a good time to work on your marketing strategy and all of its aspects. Here are some suggestions on what you should focus on to advance your marketing during the COVID-19 outbreak.
If there are no registered cases of COVID-19 in the area, vacation rental hosts should include that information in the description section. This can be valuable info that will assure travelers your rental is low risk and convince them to book with you.
In the description section of your listing, you can emphasize that you are aware of the outbreak of COVID-19 and that you have taken all the necessary precautionary measures to ensure safety. Highlight that your rental is disinfected properly and be sure to leave a prevention checklist and hand sanitizers for your guests.
It goes without saying that cleaning your rental thoroughly after each reservation is crucial. Maintaining a clean and disinfected environment is the most effective way to avoid spreading the virus. Use rubbing alcohol to disinfect everything and thoroughly scrub all surface
At iGMS, loyalty is our top priority. We express it by not charging our clients for properties that had no reservations.* Using our software ensures that you will pay only if your property is booked, otherwise, it is considered inactive and no charges will be applied.
*Disclaimer: Canceled reservation is considered a reservation by our billing team.
Cancelations may happen, and, when they do, you should be considerate. Be sure to get acquainted with Airbnb’s extenuating circumstance policy intended for both guests and hosts impacted by the COVID-19 outbreak to know exactly what to expect and how to deal with cancelations.
Undoubtedly, the travel industry is at the epicenter of the coronavirus outbreak. All hosts must come up with effective strategies on how to cope with the downstream effects of the virus. It is strongly recommended to take the necessary precautions to protect yourself and your guests when hosting.
Stay calm and follow the latest health and safety protocols and recommendations from the World Health Organization (WHO) as well as pay attention to local announcements.
Use this time to your advantage by focusing on improving and perfecting all aspects of your vacation rental business. Implementing these measures will help you sustain your business growth during the outbreak, and be ahead of the curve when the COVID-19 crisis passes.