The Untold Truth.. Why Airbnb Hosts are Quitting

The Airbnb bust hit airbnb businesses HARD this year. The covid boom brought beginner airbnb hosts and it was too late before it started. they can't keep up. Here's when and why hosts are quitting.

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[davidphones]

You have a lot of very valid points. Most “hosts” aren’t true entrepreneurs or business owners. The idea of charging more when it’s busy and lowering prices when it’s slow is a foreign concept to them. They think their rental has “the same value” year round and that is just not true.

[DeanOh-mvqz]

I run airbnbs in Asia. Been doing it for a year now. I think I watched 90% of Sean's videos when I first started and now I have 5 listings. Starting this year 5 ahead than last year. Had to leave a comment here to thank Sean. Thank you Sean. You are the man.

[felixsharpe]

I am a new host. Started May 2024. As I am writing this it is May 19. I have had 7 guests. Four 5 star reviews. Still, as we exit May, I have no bookings in June. One in July. And one in September. All of these bookings were made in the days after I first listed my property, where AirBnB “pushed” my listing. I will give it June, but if this continues, I’ll absolutely be taking my property off the platform as the juice wouldn’t be worth the squeeze

[focusedal]

I’ve been doing STR for 15 months, the whole year was very strong for my 2 units in the Los Angeles area. I remodel and converted my other two units also. This January is the first time I have 0 bookings on all 4. My occupancy rate dropped from 80-95% to 0% all of the sudden. My adjusting prices and putting promotions. Thanks for your content Sean, it helps a lot!

[SoyAmericano]

Doing your own housecleaning will help you beat the competition when prices are down.

[flutingaround]

I'm a budget traveler that slow travels the world. The majority of us need basic accommodation and not luxury

[bqfukdl]

They found out it wasn't Passive Income but a new job.

[ShaunleeSalyers]

Seriously -- it's basic business 101. Not everyone needs a luxury stay. There are so many people who are looking for accessible access to spaces that still feel special. That volume is higher than high-ticket buyers. I launched my space specifically to be accessible and launched Nov 2022. Made a profit on it through 2023 and had December perform as well as one of my summer months. Slow season happens if you don't know how to respond like a real business owner who's watching the metrics and what consumers need/want.

[buuuuuuuuuuuuuu]

7 years as a superhost, 1000's of guests, 5 units. I've weathered so many storms but it just wasn't worth it in the end. I've packed up shop months ago. The Airbnb house of cards is starting to fall. Just wait till the regulation comes in.

[Adam-eiit]

The host charges too expensive compared at the beginning of Airbnb. The price is the same as a hotel today and even more expensive. I book hotels instead. The hosts are to blame because they are too greedy.

[eddiemalvin]

We're seeing several STR properties up for sale or switching to mid-term and long-term rentals in the Poconos.

Fortunately, we have plenty of cash reserves and can "ride out the storm".

With any luck, this slowdown will shake out the casual operators and address the oversaturation in that market.

[stockey]

You forgot, high rates, high taxes and high insurance, and also a lot of places are blocking AIRBNB.

[seasidesc]

Thank you Sean, I have learned so much from your videos and appreciate all that you do to help hosts be successful. I have 2 units in Myrtle Beach, SC not on the beach but 15 minutes away and it has been a challenge, so much competition. I however think there is going to be a chunk of hosts dropping off here if they cannot start getting higher prices. There has been a huge increase in the cost of insurance and HOA fees that is killing hosts, especially locations on the beach. Myrtle Beach is quickly moving away from being a beach vacation value. Will be interesting to see how the market changes and adapts. We do a lot of midterm rentals combined with shorter stays during the summer, but considering just focusing on midterm. Best of luck to everyone in these crazy economic times.

[HavocHerseim]

my airbnb is $50 a night.

I'm booked.

[HungNguyen-uypc]

Overall, my property has followed the demand under seasonality as expected. I am in the middle of the road between the market demands, and testing the waters with new strategies or lack thereof...so it's not easy to point my finger at one reason over the other for my slow down in bookings...this video only reminds me that I have to get back into being an "active" STR owner.

[theedge]

My Airbnb is located in Fair Oaks Ranch, which is near Boerne. We are within the path of the total eclipses, but most of my competition is already fully booked for the eclipse event. My property remains unbooked at the current rate of $1, 250 per day. I’m seeking your advice on whether I should continue to hold out at this price or lower it to secure bookings.

Additionally, I’ve been contemplating a strategy adjustment. Would it be advisable to offer one booking at a slightly higher rate for Friday and Saturday nights, targeting guests attending weddings or family gatherings, and then another booking at a significantly higher rate specifically for the eclipse event? Your insights would be greatly appreciated!

[Patrick-lxgy]

Airbnb is the biggest trash heap ever. I have hosted for about 3 years. The ambassadors are a disaster.

[DavidRamirez]

As always! great content and thank you for your vids

[szasremmurd]

I’m not quitting but not expanding. The economy is just insane. From inflation to interest rates unemployment people not traveling as often and them damn rent prices 😮 Airbnb is horrible to hosts so ita time to market and advertise my butt off