Why Co-Hosting Is an Amazing Idea Amid The COVID-19 Pandemic?

As landlords across the world find themselves insolvent during the current viral crisis, they are looking to sell their properties to make mortgage payments or find good tenants immediately. On the other end of the spectrum, we have Airbnb hosts who have faced a lot of cancellations because of the pandemic and are also looking for solutions. 

Though business is slow, short-term rental hosts can use this time to expand their list of skill sets, back end systems as well as add additional properties to have a good number of short-term rentals to offer to guests who’d want to travel as soon as lockdown measures around the world are relaxed. And trust us, with so many people feeling sick of their homes during quarantine, you’re going to witness a deluge of bookings in the coming year! 

Most of the hosts out there know the two most common options they have when they enter into the Airbnb business — rental arbitrage (where hosts rent a property for the long term, and with the permission of the landlord, rent it out to guests for a short-term basis) and Complete Ownership of the properties. 

However, there is another option that is often overlooked — co-hosting. This can be extremely helpful for the Airbnb community during this time. 

So, what exactly is co-hosting?

It could mean two things for you. First, as an expert in the field, you can choose to help struggling Airbnb rental owners to find guests and to stay afloat by managing their properties. If you are wondering about how to find guests for your short term rentals amid COVID-19, we have already shared quite a few tips in our previous blogs. So, don’t forget to check them out! 

As the co-host, you get a percentage of the booking amount because of the services you provide. This can be negotiated between you and the property owner/landlord (Ranges 10-30%).

Or, you can reach out to property owners and convince them to register as hosts on Airbnb while you co-host their rentals on their behalf. Convincing them shouldn't be too difficult because let’s face it; finding paying long-term tenants during these uncertain times is a difficult job. Don't forget to highlight this fact. 

Guarantee property owners that their earnings from the property will never be nil (which might be the case if they choose long-term tenants who might not be able to make rent because of lockdowns).

But, if they choose you as a co-host, they will be able to make a healthy profit through your expertise in the rental business while you will be able to capitalize on their property. Once the market resumes, they would see higher than average monthly amounts in comparison to a traditional rental due to this revenue share model.  So, it’s a win-win situation for everyone involved! 

We speak about this model in great detail in our absolutely free master class. You can join now!

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