I just did this piece for Bigger Pockets on short term rentals during Coronavirus. I’m offering a few tips for you to weather these uncertain times for short term rental owners and wanted to share it here with you as well.
Here’s the list, watch the video above for more details!
1. Don’t panic sell.
2. Adjust your listing parameters to make your property more attractive to potential social distancer guests.
3. Turn off your beloved automations and humanize yourself with your guests.
4. Rent long term to an arbitrager.
5. Refinance to buy yourself some time and skip a mortgage payment, and maybe pull out a little bit of an emergency fund from the equity.
And there you have it! 5 quick tips for navigating short term rentals during Coronavirus. If you need help calculating income and expenses during this time, check out our Cash Flow Calculator, or head on over to Airbnb to check out what your neighbors are doing to weather the storm.