How Airbnb hosts and guests coping during COVID-19?
In order to gain insight into how COVID-19 has affected short-term rentals, a survey of part-time and full-time Airbnb hosts, as well as guests, was conducted recently.
Here’s what the survey 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.