Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search


Airbnb property owners switch to long-term rentals

Owners of Airbnb properties are switching to longer term renting, as tourism slumps following the coronavirus pandemic.

Auckland based Airbnb property manager Zodiak has lost more then a third of its clients since the pandemic.

Managing director Stefan Nikolic said before the lockdown it managed 80 Airbnb apartments in Auckland's central business district, but 30 properties had been lost since the pandemic hit.

Normally, they have 300 bookings a month, but last month that dropped to 60 bookings, cutting their profits by 70 per cent.

"I thought there would be more interest after the lockdown, people keen to get out and do some travelling, leave their homes," Nikolic said.

"There are some bookings, but definitely not the kind of massive resurgence I was hoping for."

Zodiak received $21,088.80 from the government's wage subsidy scheme, Nikolic said.

His former customers are holding on to investment properties, but are now looking to the long term rental market or choosing to manage their properties on Airbnb themselves to save on fees.

"If they're switching to long term rental, it will be temporarily for maybe three to six months, before switching back to short-term rentals.

"Likewise with [people who are now managing their own Airbnbs] they will probably switch back to a management company hopefully."

Those who stuck with Airbnb would be well positioned when demand eventually picked up again, Nikolic said.

Until then, he is trying to stir up interest in domestic travel by slashing the nightly rates of the properties he manages.

In a statement, Airbnb Australia and New Zealand manager Susan Wheeldon said Covid-19 had disrupted the tourism industry, but it would bounce back.

"Covid-19 has caused significant hardship for the everyday people who rely on sharing their home for extra income and, understandably, this means some have to make really difficult choices based on their personal circumstances," Wheeldon said.

"To help ease this hardship, we recently announced a US$250 million fund to help accommodation hosts impacted by Covid-19 related cancellations, as well as a US$17 million Superhost Relief Fund that's been largely personally funded by our founders."

© Scoop Media

Top Scoops Headlines


Gordon Campbell: On Why We Shouldn’t Be Pushed Into Re-Opening Our Borders

I believe in yesterday as much as Paul McCartney, but it was bemusing to see the amount of media attention lavished last week on the pandemic-related musings by former government science adviser Sir Peter Gluckman, former Prime Minister Helen Clark ... More>>

Gordon Campbell: On The Media Collusion With National’s Attack Lines

For most of the past week, any consumer of this country’s management of Covid-19 would think New Zealand was actually Brazil, or Texas. The media language has been full of claims of “botches” at the border, and laxness and inexcusable errors ... More>>

Gregor Thompson: Don’t Be Too Pessimistic About New Zealand’s Future.

With the first hurdle hopped our Government will be turning its attention to trying to soften the economic damage this pandemic has on our little archipelago. More>>

Eric Zuesse: U.S. Empire: Biden And Kerry Gave Orders To Ukraine’s President

Eric Zuesse, originally posted at Strategic Culture On May 19th, an implicit international political warning was issued, but it wasn’t issued between countries; it was issued between allied versus opposed factions within each of two countries: U.S. and Ukraine. ... More>>

The Coronavirus Republic: Three Million Infections And Rising

The United States is famed for doing things, not to scale, but off it. Size is the be-all and end-all, and the coronavirus is now doing its bit to assure that the country remains unrivalled in the charts of infection . In time, other unfortunates may well ... More>>

Binoy Kampmark: Altars Of Hypocrisy: George Floyd, Protest And Black Face

Be wary what you protest about. The modern moral constabulary are out, and they are assisted by their Silicon Valley friends in the Social Media club. Should you dare take a stand on anything, especially in a dramatic way, you will be found out ... More>>

Binoy Kampmark: Welcome Deaths: Coronavirus And The Open Plan Office

For anybody familiar with that gruesome manifestation of the modern work place, namely the open plan office, the advent of coronavirus might be something of a relief. The prospects for infection in such spaces is simply too great. You are at risk from ... More>>

Binoy Kampmark: Why Thinking Makes It So: Donald Trump’s Obamagate Fixation

The “gate” suffix has been wearing thin since the break-in scandal that gave it its birth. Since Watergate, virtually anything dubious and suggestive, and much more besides, is suffixed. Which brings us to the issue of President Donald Trump’s ... More>>