All Forum Posts by: Paul Cox

All,

So I've now had a total of 9 cancellations at our Cabin, and actually picked up a couple of bookings to offset those. After my last cancellation which happened about 15 minutes ago, I went in and added a "Booking Note" where I said the following:

BOOKING NOTE:
Dear Friends...By this time, it is no secret that there is a Pandemic going on and that things change on an almost daily basis. With that in mind, if you book for any days starting today (24 Mar 20) knowing that all the area attractions have either been closed or severely restricted by the local government, then our strict cancellation policy will remain in place. Please review that policy before you book. This policy will remain in place until or if the local country restricts all vacation rentals, in which case you would be entitled to a full refund. You can review the local issues going on real time at the following website:

https://www.seviernewsmessenge... 

If your just looking for a place to just find some solace and or peaceful get away time then we've got you covered...

I then go on with my original booking description. I'm also going to takeoff instant book for the time being as my last guest which was a local, instant booked for just 2 nights with 5 of her friends and didn't trash the place but used it very well. Based on everything I've learned on the forums, renting to locals can in many times just be asking for trouble, so I would rather not.  

We are fortunate in the fact that we don't have to rely on guest to cover our mortgage as this is just our first STR.

Anyway, thoughts?  

Be well everybody

Paul

That I do not know...I'm assuming the owners or PMs told them of the adopted ordinance and that they would have to leave tomorrow. That would suck...

JR

I just got an short notice inquiry from a couple that had been staying up in Bryson City, NC who said that they had been told that they would have to depart by tomorrow. When I looked up the town, I found the following:

Found this in the Smokey Mountain Times:

I told them I could accommodate them for the next two nights as we haven't heard anything like this in my part of the Smokeys.

Paul

I just allowed a local to book our cabin...They work in Gatlinburg and are from some Eastern European country originally (thinking Ukraine). Anyway, with all the cancellations I've had, they booked one of the cancellation weekends. She had 5 positive reviews and so I have gone against my gut allowing the instant book to continue. I know there are at least 5 there as they called me last night wanting to know how the grill works. I'm holding my breath and praying that she earned those good reviews and that I'm going to be able to give her a good review. If not, they will have ruined it for any other future local wanting to rent from me!  Sorry for the busted door @Luke Carl and thanks for sharing and reminding us all.

Paul

@Bryan Beal, you're who I want to be when I grow up in REI :)

We got started last November, buying our first STR cabin in the Smokies and it had been doing really well until these last couple of days. I really like the STR market, but I know that I want to diversify with LTRs SFH and Multi Family properties. I would love to know more of how you did what you did and do what you do. I'm always open to learning from those who have done what I'd like to do. Will reach out to connect and thanks for sharing...Paul

Like @Luke Carl, my cancellation setting has remained at the strict level because at least until April 14th, it doesn't matter what the setting is when it comes to the Corona Virus issue. But, I'm still getting bookings that have filled some of the days left vacant because of my previous two cancellations, and for more per night than my previous guests had paid...maybe that means I was too low on my initial pricing. Anyway, for right now I'm sticking with the strict, because those who are booking now, are doing it with the full knowledge and insight of an ongoing pandemic and booking anyway. I really think that when it comes to this time of chaos and fear, doing the right thing for those who booked prior to the pandemic announcement will pay bigger dividends in the future...All we can do is try to alleviate some of their fears and concerns and then let be what will be.

Paul

So far, I've only had two cancellations for about $1500 which sucks, but then less than 1 hour after my first cancellation, we filled 4 of the 7 cancelled days for almost as much money. The new booking was actually for $40 more per night than the original booking. I've also had another inquiry about it before AirBnB updated its extenuating circumstances policy.  At the end of this journey, I believe there is going to be a pent up demand to get back out there and take those trips and vacations they missed and we'll probably see more bookings than less and probably a better per night rate. Both of my cancellations were for things out of my guests control due to this virus. I believe I'll get them back later and probably for more money.  I'm optimistic

Paul

Just received this in my email from AirBnB:

We’ve worked hard to find a balance between supporting your hosting business and protecting the well-being of our collective community. This is a difficult time, and millions aren’t able to make their trips or welcome their guests. For the rest, it’s clear that no one should feel obligated to host or travel if they don’t feel comfortable right now.

For that reason, our will now apply globally* to eligible reservations booked on or before March 14th, and with at least one night between March 14th and April 14th.

In simple terms, this means that for eligible reservations:

@Ken Latchers...This is my first year in the STR game, so nothing to base it on, but I had March and April fully booked and I've had two 7 day cancellations in the last 2 days...One was a military member that was returning from deployment and the DoD has restricted all travel outside of a 50 mile radius from their bases. I believe we'll see them again when that lifts. I expect more cancellations, but after our first reservation canceled, we almost immediately picked up another booking to take that place at a higher per night rate. We'll see how things play out, especially since AirBnB has made the US an extenuating circumstances area now.

@Bo A Vanecko, I have similar stipulations for AirBnB Instant Book, but it appears it there is any of those stipulations that are not met, it will come to you for acceptance of the booking rather than instant book.  Not sure which one they are not meeting, but its something in their profile that they haven't completed yet...

Paul