Short Term Rental Riches 21. Money coming your way! (And Industry Updates)
Apr 7, 2020
Discover the latest financial assistance options available for short-term rentals, including grants and loans to help hosts thrive. Learn about the importance of navigating uncertainty by maximizing occupancy with long-term tenants. The conversation includes best practices for adapting to market changes and insights into which types of rentals are performing best. Find out about disaster funds currently accessible and strategize for a stronger recovery post-pandemic.
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Pricing & Booking Policy Adjustments
- Set automated pricing with a maximum discount of about 20% to avoid attracting undesirable guests.
- Carefully adjust cancellation policies to accept last-minute and local bookings with review criteria for safety.
Apply for SBA Disaster Loans
- Apply for the Economic Injury Disaster Advance if your short-term rental business is financially impacted.
- Check SBA resources regularly, as loan programs and eligibility criteria are evolving.
Airbnb Refunds for Cancellations
- Check refunded money from Airbnb cancellations; hosts receive 25% back for cancellations around mid-March.
- Expect this refund as an automatic payout to help mitigate losses from canceled bookings.