Airbnb hosts struggle to pay the bills as the pandemic sparks mass cancellations

[Demovictory9]

https://www.cnn.com/2020/04/07/tech/airbnb-hosts-coronavirus/index.html

New York (CNN Business)Jeff Martin was enjoying a vacation with his wife Joleen in Mexico in mid-March when they woke up one morning to an onslaught of cancellations to their various Airbnb properties.

The couple typically sees bookings peak for their 22 Airbnb rentals mostly across Phoenix, Arizona, from January to March, largely in part to nice weather and various conferences and events. They've had about 150 cancellations so far due to the coronavirus pandemic.

"It's like somebody dropped a nuclear bomb on our calendar," Martin told CNN Business. "It's just wiped clean. It's crazy."


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Chris Morrow and her husband Marty, who typically rent out their home on Airbnb on weekends to help pay their mortgage, temporarily moved out of their house in San Diego County to rent it to health care workers, first responders or other people in need. They said the house, where they've lived for seven years, will be available at an 80% discount for stays of at least 30 days. (They're currently living on their boat nearby.)

"We never expected to have to move out of our first home," she said, adding the fee they're charging will go toward utility bills. "It's emotional because we live here on the weekdays and the house is furnished and set up for us by us. We are hoping to receive an invitation from Airbnb to receive the $5,000 grant."

https://www.cnn.com/2020/04/07/tech/airbnb-hosts-coronavirus/index.html

[drray23]

1. if you have to rely on airbnb to pay your mortgage

your financial planning was not very strong to begin with. I can see it being part of extra income but if you can't afford a house mortgage to begin with and have to rent it out part time just to stay in it you have an issue.

[cbdo2007]

3. They are temporarily living on their boat nearby.....

wow sucks so much to be them right now *sarcasm*

[mdelaguna]

5. Right?!

[JHB]

4. If they have 22 spaces to rent out then they're not in the "extra income" business...

...they're hoteliers who avoid hotel regulations, fees, and taxes by using AirBnB.

Not exactly a resilient business model, and like you said, bad financial planning.

[drray23]

6. That's the other people in this article. Not the same ones.nt

[obamanut2012]

2. Good -- they are housing predators

Especially in areas like SF and NYC, but even in more suburban areas. They take away decently priced apartments and houses, cause housing shortages, and artificially inflate rent around them. The majority are not folks renting out a room during the Super Bowl just to make some extra money. They are housing thieves and predators.

[JHB]

7. Yup. If they want to run a hotel, then they should run a hotel...

...not scrap up residences so they can have a quasi-hotel without the responsibilities that come with one.

[mitch96]

8. Ahhh capitalism. Where you have the right to make profits or loose your shirt....

Unless of course you are a huge corporation then you get socialism via the US tax payer bail out...

m

[Jake Stern]

9. Meh

I have seen what they do in cities like New Orleans, where they snap up places and then turn around and make them AirBNB rentals.

Some are cracking down on it: HOA rules where my parents have their condo prohibit using them as temporary rentals such as AirBNB.