5 Ways For Short-Term Rental Hosts To Deal Covid

As we all know, the coronavirus crisis is having a huge impact on the short-term rentals industry. With the lockdown in place, travel has reduced significantly, and bookings have taken a big hit. Here are five ways in which you can weather the storm and come out the other side ready to continue growing your business.

1. Get Familiar With Cancellation Policies

A lot of guests will be cancelling their future bookings at the moment - so you’ll want to be familiar with your OTA’s revised cancellation policies. Airbnb, for example, has introduced new more flexible extenuating circumstances for cancellations of bookings made before march 14th, that allow both hosts and guests to cancel without the usual penalties. This means that guests won’t be charged for cancellations, and you’ll be able to cancel bookings without your Superhost status progress being affected.

2. Accommodate Health & Essential Workers

With healthcare workers coming out of retirement, many NHS and essential workers are having to self-isolate from their families, and are turning to short-term rentals. Ensure your properties have everything a worker would need for a longer stay - think food provisions, ironing and washing facilities, and a TV with a Chromecast or Amazon Fire Stick. This isn’t a regular holiday though, and many NHS workers won’t have the budget for an expensive stay. Some larger managers have offered up their properties for free. If you can’t afford this then at least offer a discount to thank them for their service.

3. Use Government Schemes

The government has now introduced the furlough scheme to protect jobs. You can place your employees on the scheme, where the government will fund up to 80% of their wages, up to £2500 a month. Your employees are not allowed to carry out any work for you whilst on the scheme - effectively they will be on paid leave. 

Many Airbnb hosts use the platform to help pay their mortgage, and other schemes such as mortgage holidays can help with this in the meantime. 

4. Use Time To Improve Your Property

With bookings down, now is a better time than any to improve your property and really add value. If you were planning on doing any big upgrades, such as installing a new kitchen, then you’ll still have to wait until social distancing is over to be able to get workers in - but if you need to add a lick of paint or there are any maintenance tasks such as simple plumbing or simple repairs that need doing, now is a good time to try and do them yourself. 

5. Try Out New Things & Prepare To Bounce Back

The short-term rentals industry is resilient and predicted to bounce back quickly after the crisis is over. With the need to cut costs and with all but essential travel being restricted by the government, now is a good time to try out new things and put yourself in a better position for the future. Use this time to look at your operations and see what is costing you. Try out a new property management software if you’re not happy with the one you’ve got. If you usually meet guests in person, try out a service like KeyNest to keep to social distancing rules. Or invest time in new marketing strategies, like creating a direct bookings website, and you’ll be able to recover quickly once we’re back to normal.

Navigating Property Management During The Pandemic

Adapting to the challenges brought on by the COVID-19 pandemic is not just about following government guidelines but about taking proactive steps to ensure the safety and comfort of your guests. By implementing strict hygiene protocols, adjusting booking policies, and utilizing technology, short-term rental hosts can continue to thrive in a post-COVID world. Clear communication, flexibility, and a focus on local tourism will also help you stay competitive and meet the changing demands of your clientele. Most importantly, making safety and cleanliness a top priority will help you build trust with your guests, which is essential for long-term success.

The key to navigating this new reality is a combination of adaptation, innovation, and maintaining the guest experience at the forefront of your strategy. With these five strategies in place, you’ll be well-positioned to overcome the challenges of COVID-19 and emerge stronger in the competitive short-term rental market.

About Us

KeyNest offers you a convenient service for storing and exchanging your property keys. You can drop off a key at any of the 7,000+ locations in our network, so there’s one such Point located next to your property. 

Guests, cleaners or contractors can then collect the key securely from a KeyNest Point or KeyNest Locker  which is usually open 24/7. You'll be notified each time the key is picked up or returned, and you can even customize check-in and check-out times. By leveraging technology and a global network of locations, KeyNest continues to redefine property management, offering solutions tailored to meet the evolving needs of the rental market..

KeyNest has an ever-expanding global network of locations located just minutes from your property. To find out more you can contact us.  

Neil Beltran 4 March 2025