Adding to price pressure on rentals is increased cleaning expenses tied to the pandemic, Guesty’s Schwarz said. However, she’s noticed hosts being more accommodating with flexible cancellation policies, which she recommends seeking when booking new trips.
Across the country, a different coronavirus-induced phenomenon has taken hold. In Lake Tahoe, the freshwater haven three hours from San Francisco popular with wealthy tech types, vacationer volumes are around usual levels, Tahoe Getaways President Jim Winterberger said.
However, the number of available properties has declined, in part because house and condo owners are spending more time out there, he said. That means average daily rates are 20% to 30% above normal levels. Not that it’s stopping anybody.
“The value seems to still be there,” he said.
This article was provided by Bloomberg News.