AirBnb is moving into long-term rentals during COVID-19

During this uncertain time of COVID-19, AirBnb has taken a big step from short-term rentals to long-term rentals in France. The stay period has been defined as between 28 days and 6 months. 
COVID-19 has largely impacted the AirBnb core business that cannot be overlooked. At the same time, this has unlocked the new opportunities both for the real estate sector and AirBnb.
Today, AirBnb is targeting new travellers i.e. people who leave their home for a longer period. This includes-
  • Students planning to move to a new city to study
  • Workers who have far-from-home missions
  • Expatriate people who are likely to resort to long-term rentals
The changes AirBnb has made-
AirBnb has added the ‘monthly stay’ option on its website. This category appears next to the places to stay option. Monthly stay on AirBnb is for at least 28 days. 
With these new ways, AirBnb can make profits during COVID-19-

  • Rent the place for a longer period and Make your accommodation profitable

AirBnb is providing an opportunity of renting out the place for months as compared to a couple of days or just a weekend earlier. This allows owners to get long term contracts rather than living with the instability of being booked for a couple of days in a month. To make the property enticing, owners will now have to focus on monthly discounts and cancellation policy.
Whether one has an apartment or holiday home, both can be rented out for longer periods. This gives an opportunity for long-term lettings in France for students or workers who plan to stay for a longer time. A long stay booking is the best option during traditionally slower periods. This helps the owner get a stable positive cash flow during the tough times.

  • Solution for corporate relocation

Corporation relocation is a huge market that needs to be consolidated, streamlined and digitised. Corporate executives are well-behaved, business-like types who pay the rent on time. They value flexibility and try to avoid the high-cost of hotels. They are not in favour of long-term lease due to the kind of projects resourced.
AirBnb could be the best solution for corporate relocation agencies. The property managers and institutional landlords can make good profits with this strategy.

  • Can be a ‘party house’ brand image

Corporate executives are the most reliable young professionals and the preferred audience by the landlords. They are not troublesome guests and increase the reputation of AirBnb in the traditional real estate sector. 
AirBnb provided an opportunity to rent out homes for various corporate functions and parties. These help the owner make a strong and long association with the corporates and can expect his holiday home to book for various important meets.

  • Get the help to manage AirBnb accommodation

Manging, cleaning and making a holiday home ready for short term letting to guests can be a difficult task; especially during the Covid-19 scenario, when sanitation plays an important role. If the owner isn’t used to maintaining the required standards, it might affect his future bookings.
Thankfully, Airbnb management service takes care of everything -from listing creation to welcoming the guests and ensuring a pleasant stay throughout. The owner can hand over the keys to management and get rid of his worries.
This is not original mission as a business but AirBnb has understood the opportunity. This has transformed the residential real estate to move into short-term, mid-term and long-term lettings in France. COVID-19 has brought a big change in the business models and ensures homeowners make profits throughout the tough times.

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