Can Airbnb Survive? 

Yes, housing where I live became unaffordable. People think that investissements do not have risks...

Short term rentals should be illegal unless an area is zoned vacation residential. This would imply most the homes are second homes not primary.

those are the same group of people who's responsible for skyrocketing home price, watching them struggle put a smile on my face

Economics Explained has a great video that he released a couple of days ago explaining why real estate is NOT the Holy Grail of investments. Many "investors" have pretty much ruined living expenses by over-leveraging themselves

Yup, these guys can rot. Hope they end up homeless. Without a full vaccine there's no way for them to survive anyway.

What? Where? When? I think that’s the CANZUK flag, you can see cross on the British Union Jack, the white stars of Australia, the red stars of New Zealand and the maple leaf of Canada.

karma just came for them, can't feel bad

Airbnb hosts- Dont put all your eggs in one basket. There are lots of new opportunities

yep....look at san Francisco

You don't need to - those interested in wealth building always find a way to bounce back.

Agree. I do not feel an ounce of mercy.

I don't think they are looking for sympathy. Just explaining how the pandemic affected them. Any business involves unforeseen risks. As a business owner I find this very interesting.

The Chads and Karen? Me either ✌🏼

Exactly their just like those people on the big short that had rented out three houses while still paying off their personal house. Greedy mfs. If you’re doing business like that be humble, and live in a small apartment or studio.

Rudi Storm same. But as responsible owners, they should have not overextended themselves and hedged against risk

@@sangomoon5456 Revenue isn't the same as profits. He must have multiple properties and he has to pay the mortgages and the property taxes for his properties which he derives from that money and now with no revenue coming in, he'd have no source to pay the mortgages off and thus, sees no choice but to file for bankruptcy.

@@ron9079 They shouldn't have over-leveraged themselves. I mean its easy for me to say this in hindsight, especially with how crazy the situation is right now but there will always be risks when investing, whether its in the stock market or real estate. You make hand over fist in cash when times are good, but where is your diversification? your safety net or emergency fund? If you take your margins and reinvest to take advantage of the good times, you find out how exposed you are when the cash flow slows or stops.

@@ron9079 That's an "investment". He invested his money by buying properties he technically doesn't have the money for, relying on the market and hoping everything would go well until eventually, he can pay off those properties. Louis Rossman talked about these landlords who are "trying to make money off other people's money". Good watch. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-CgzxNMIbZKM.html

Basher, thanks for bringing this up. I really hate this idea that these people are investing when they’re actually borrowing money. Any business that is leveraged at 1 to 1 is starting to get risky. These “hosts” are leveraged at least 10 to 1. Any hiccup would wipe them out.

@@rathelmmc3194 Yup, so true. These hosts did not calculate their risk and now want us to pay for their trouble? wth....

THIS^^ AS a host you should know what you're getting yourself into

yup.. they sound entitled, everyone is struggling, not just them.. they made a lot of money using the platform, now that there's a pandemic they still want to earn the same amount, and don't want to let customers cancel? or they just don't want the customers to be refunded. 🤦‍♂️ so they want the guests to take the hit

Hotel can choose to give future credit, Airbnb host cannot due to Airbnb broken its promises.

@@omi_god Doesn't it sound like the video is saying AirBNB always had a fine print about "extenuating circumstances" policy, which was triggered in this case thus the hosts were out of luck? But if it was always in the fine print, then hosts have the responsibility for the risks they signed up for.

omi god what's that. Vacation makers can't come and airBnB actually thought they should get their money back and not give it to the hosts as a freebie?? How shocking.

They want to think that they're sort of special snowflakes that should be immune to this pandemic

Lol so true

Yup

Customers should always have a travel insurance when they travel regardless of a pandemic or not. You can always face unforeseen circumstances. These losses should be suffered by insurance companies. Also to put in perspective: 1 person losing his holiday accommodation money will 100% survive as it is a disposable expense. If it was not you should not go on holiday. 1 property getting all their bookings cancelled and forcefully refunded can go under as a business due to the massive loss of revenue. Not to mention if there are larger properties that will have to let go employees etc. Way more people affected than just 1 guest. Out of the two bad things one is clearly way worse than the other and impacting the economy more. The only thing disgusting here is how shortsighted you are.

The right thing to do was to give back the money. These host are suffering like any other business but that goes to show business is hard. At the end it would be a bigger backlash if they didn't and you have to think of laws protecting buyers. Air bnb did the right thing.

$2M in revenue doesn’t mean anything. If I made $2M in revenue but had $2.1M in expenses then I’m broke.

@@namekgodpiccolo2237 Great Explanation.

@@namekgodpiccolo2237 Chances are he probably was not losing money, even a 15% profit margin is 150k. Decent money for just managing Airbnbs.

Exactly!

Yup, mismanagement of his business has a cost.

Ta da"

@@strawdemindset Some of his money might go to the loans (?)

@@gold9994 Its the investor mistake, period !! I've worked in the real estate business for 20 years now. I've seen conservative investors who are 60-70 years old with 3-4 properties max because they pay all cash for their properties. while the younger generation would buy 20-30 properties with loan payments through the roof and when I discuss with them the risks they would call the older generation (dumps and stupid). Guess who's the stupid now ?!!

@@kasbas5922 I have 3 apartment rooms and 2 houses, I'm pretty lucky to have them from my parents. I am renting my apartment rooms to some college student. In this pandemic, i decided to not ask them for money, originally, I'm thinking to ask them half of the monthly rent, but My wife said to let them off. She said that We're capable of living even without those properties.

same goes for the airlines and hotel industries, but they still got bailed out.

@@David-oy4ng the difference is those industries provide a service or a product. Air BnB hosts provide housing scarcity, inflate housing prices, & take business away from hotels. Not to mention many, many of them operate both illegally, and in violation of their user agreements with Air BnB. Air BnB is for you to do things like make money from your holiday home or your primary dwelling if you're going to be travelling for a long period of time. It isn't for you to run your own short-term lease business & leverage properties.

A 6 month lockdown is impossible to prepare for. Open the country back up. Let people self quarantine

They also generally flout the laws and contribute to the housing shortage causing homelessness.

We’re quick to forget that these “hosts” took the risk to rent on Airbnb and inflate the market rather than rent to long term tenants.

The guy at 5:48 was saying he got almost $2 million of revenue in 2019 and now he is complaining that he is not getting another $2 million this year?

@@Serpinoroth That's some good money. You'd think he would have started some contingency planning and squirreled some profits away. Probably just kept buying properties on credit instead of trying to pay off some of the existing mortgages.

100%

@@Serpinoroth So greedy. They should think of the ones who are in a much less fortunate position than they are. Everyone has been hit hard

probably spent that money on more homes

Agreed. You are one of the hosts I feel for. I’ve rented two separate times through the site, both times the owners lived on site too. It was always meant to be a rental of a spare room or bedroom over a garage, and not creating mini real estate tycoons. I hope your day job is still keeping money coming in and that you’re doing as well as anyone can at this point!

flyingscotsman32 where do you get this BS of “it was always meant to be spare room” rental. It’s a nice origin myth, not a viable business strategy. None of the players will go that route (except maybe some desperate losers who will try to appeal to organic soyboy losers who buy (fake!) “fair pay” coffee). “Spare room” renters will always be looked down upon, both by companies and other hosts as dimwit losers.

business has risks and the pandemic has hurt thousands of businesses not just Air BnB. how is this any different from any other business that's been closed down?

This is true. I have 2 properties that I listed because we don’t currently live on it, we made it affordable for travelers. While other unit owners on same building rented other units to make an entire floor their own hotel business. Now they dont know how to pay for those.

What do you think of Airbnb customer support? Do you usually have a great experience with them? It would be great to hear your thoughts! Tks!

LOL

Ha ha ha 😂😂😂

Lol that’s not nice 😅

This is exactly how I feel. With rents skyrocketing in most cities I hope a lot of these properties turn into long term rentals.

that cracked me up, cheers! :D

He seemed like such an dickhead. He lost daddy's money and wants to cry about it 🙄

and he is probably without pants in call

@@samundrakc2533 hahah and locked his dog in the bathroom

5:45

they look like bros who just finished a tai lopez mastermind

depends on the fine print...I have no idea if they should be refunded. What is the company policy?

It's absurd. You failed b@stard"

ikr lol

S O, Exactly that!

Yes indeed. Just like the guy who was making 2 millions last year of revenue from his rentals, now he is thinking to go bankrupt 🤦‍♂️

S O - They Used a simple system, and mixed it in with a more complex system (Multiple Leveraged Investments) and screwed themselves, in their greed an rush to get rich, without any gameplan in place, for a "What If" scenario! We talk about "100 Year Storms", in terms of the Weather, but this is one such "Storm" in the Travel Industry, and its "Affiliate" - Accomodation! It's a bit more than just needing a Financial Plan to deal with a "Rainy Day", this hit them like a Global Flood! And they were all "Singing & Dancing" while it was "all Good", and never considered to build themselves an "ARK!" For over 2 years, I have been hearing that a Financial Meltdown was coming! I did the best I could, to get at least a Small Financial "Umbrella", or "Oh $hit" savings buffer, and even the little I have, takes a lot of stress off! Other Family members - They are not so prepared!

Let's hope not... to both!

That’s what I was thinking throughout the whole video. If one month of financial strain is able to bankrupt you then it would appear that host was overextended.

@@DK-mc7mp Then do not expect them to be empathetic towards you.

@@DK-mc7mp your first comment deserve a big FACTS or LEGENDARY FACTS

It's called GREED!!!

No, Some ppl are losing money because they rented out other properties and listing them on AirBnB. They have to pay the rent nonetheless.

Santosh Kumar i just don’t understand why you would even rely on someone booking a room to help pay for an under contract rent. That sort of business model should have had a month or two of reserve funds and a back up, otherwise dont even venture there.

@@72sh so they take advantages to be a middleman?

Izzuddin M Nasir it was their choice. They still owned the property.

In corporate language not making money is losing money. To them the money the money they didn't make is theirs, damn it! I never understood that self serving way of thinking.

Sarah Roiz I’m from Cali by Disney, my buds mom is about to default on their two house loans because of this. Can’t say I feel sorry.

It's just hard because many of these host pay their mortgages with the money they get from Airbnb

@@Cynthiaa315 Sadly many under false promises. Some were just homeowners that may or may not have a mortgage, but had an extra house either through inheritance or otherwise.

There is no housing shortage. You have a cash shortage commie. 😁

@@sarahblumental333 yeah I'm from toronto too and when landlords realized they can make more money turning their properties into Airbnb hotels than apartments things started to go ugly.

Nope he was living the high life and didn't diversify enough of his assets.

....you mean cash flow because they are more of a small business at that point. An awful small business , but small business none the less.

@@77Treasurehunter77 just meant saving a good portion of ur profits as contingency..or creating reserves of excess cash inflow.....so when ur business isn't in the best shape u atleast don't declare bankruptcy n survive widout profits for another 6months or so

Nope 🤦‍♂️

I'm guessing he was highly leveraged

I was pretty impressed to see the Ceo say skip getting paid for 6 months. Thats not normal at all for western companies.

I'm shocked that there is a stated refund policy, but I guess greed is a strong emotion. I feel for your reputation you should refund. But it's easy to say that. The pandemic is neither the travellers fault or the hosts fault.

Agreed with you ❤️

oh yeah not an ounce of value /s

AirBnb thrives because hotel industry is overpriced, so it's not the AirBnb hosts' fault just because they see a valid cash opportunity .

Nick Bucheleres true. People jacked up the housing price by making them as investments, While you had your opportunity now you need to face the risk too, thats how the game works

accomodation is not a value?

Thats the hosts not airBnB

@@likeadino8580 Spoken like a true corporate bootlicker

@@deesee6009 me or your subject? Never mind ima hit the sack I prob to tired to get what you are trying to say good day/night

Infinite that’s crazy smh, don’t book thru them book at a hotel

geovanny cruz sometimes airbnb’s are better deals if you go with friends and you all wanna stay together but going alone yeah a hotel seems better

Some of those fees are set by the host themself, which only emphasizes the ultimate message of this video: HOSTS are responsible for the bubble bursting.

Dashing R did i say ALL? no i didn’t. A lot of the airbnb’s near the beach are stupid overpriced in fees. how are you gonna tell ME that it’s not true. ur an idiot bruh

the whole idea was to be cheaper than a hotel. You might as well spend a little more and stay at a hotel. IMO

if it fails some other company is going to replace it since the service is extremely profitable

As long as housing remains an "investment opportunity" that operates by the process of supply and demand then yeah, they should survive. If it's not AirBnB, then it's some French Investment firm (or insert any country/investment group into there) who funds the building of multiple housing tracts across Florida simply to make sure people get stuck in the rut of never owning your own house and they don't care about the cost of rent as long as someone is paying rent. Is AirBnB the one who is increasing the rents in those European cities? No, it's the people who own the properties seeing this as a way to increase rates because they figure AirBnB is getting this amount... we can increase the cost too.

@@synecdoche8783 More and more voters are targeting getting them out. Places like Amsterdam have locked down their markets, airbnb exists but drastically cut back and controlled. In the long run, the hostility toward this style of hotel and its infringement on housing, isn't socially accepted. Any business that's planning to use this in their model can expect increasing legislation.

@@runningfromabear8354 "more and more voters", okay in one area, this is a global market a hundred cities can kick them out but there are 10,000+ cities in the world big whoop

​@@synecdoche8783 Yeah and what's the reason for being this profitable? they can forego regulations etc. that exist for a reason. and just because something is profitable doesn't mean it's good. regulations etc. will catch up sooner or later and won't only be for AirBnB

Airbnb would side with it's customers. If they managed to screw up the consumers review, they'll lose market share. Yes, the host would stay, but nobody's going to rent them anymore.

Once again not airBnBs fault its the hosts blame them

My city, people sold their "airbnb" houses and people from California and China swooped in and bought them. Renting these same houses that ONLY changed owners at double and triple the cost. This company has ruined my town. I have -0- tears for these people who lost business.

@@likeadino8580 I beg to differ! It's the greed of these start up app companies! Uber, Lyft, Air box, etc all need to go away!

electrikoptik why’s that

@@edmichaelalobog8886 Where do I begin. Airbnb has mostly a negative effect on Amsterdam. There's a shortage on houses (apartments) in Amsterdam and we're suffering of mass tourism here. What you get is that certain people and companies buy apartments solely for the purpose of renting them with tourists on airbnb which fuels the shortage even more. What you get is simply too much houses for rent on airbnb which is a nuisance to the locals living here. The municipality has tried to combat this in numerous ways. There used to be a time where you can rent your house without limit on airbnb. They changed it now to max 60 days per year. There's also a reporting center where you can call and complain about noise and if you suspect illegal airbnb renting (which still happens allot). We're just tired of all the mass tourism here. Enough is enough. Edit: I forgot to add that airbnb drives housing/rent prices up and all the noise complaints.

Same in barcelona where I live or Greece (islands) where I am from...

@@electrikoptik Sounds like they missed a very easy way to combat it, just outlaw all short term rentals outside of a sanctioned (or whatever terminology) hotels.

alex greece could do with tourism. you can't have money without tourism and german financial aid. . can't have your cake and eat it too.

DaBrute well he said he might go bankrupt right?. When you have a business yes you might earn millions you might lose millions too. But if you are taking the chance then you deserve millions that you earn. If you don’t want to risk then don’t be jealous of 2M he is earning

C L If you’re taking the risk, then don’t complain when it screws you over.

2 million in revenue and if hes making that much revenue imagine what his overhead is for paying rent for all the properties monthly, now his NUT is uncoverable.

He clearly has multiple properties. He could just sell one or two of them.

@@CM-id3wo Don't be jealous of the 2m he's not earning.

business has risks, there is a thing called risk management and clearly these host have never heard of the subject. if you need 100% occupancy to stay afloat, sooner or later you'll go down if you don't have cashed saved.

Exactly! I don't feel sorry for these greedy get-rich-quick dumb asses! I was never a fan of this kind of thing in the first place!

I used to travel a lot, and I never stayed in any Airbnb. Always in a hotel or something like that. I mean, just to think about what they say on the news where they said that some of the hosts put cameras to see you without you knowing. 🤔 A hotel room is way better to see and search for, because is just a room 🤷‍♂️

@@Thatit777 yep, no hotel has ever had a camera placed inside a room to spy on the guests. :)

@@jefffeltes9309 Oh they have :) But they likely no longer own that hotel

Danny it happens at hotels too

Alessio Vicario its really scary.

no. these are people with 10 homes but now more people could afford to buy the houses

Yes but with the difference that now the government is bailing out everyone and now we will have to pay for their losses.

And it’s their own fault

Businesses with no leverage go bust when there is not enough revenue to cover expenses and you are bleeding cash reserves, which you can choose to have or not irrespective of leverage. I leveraged up 100%, but I only do long-term rentals and I only buy multifamily properties with four units or more. If I were using AirBnB, I would only use rented or leased units for guests, subletting essentially.

Nuclear Armament What do you mean your leveraged up 100%? Isn’t the down payment for real estate 20%?

@@jason5674 I've never put any of my own money into buying real estate, I've used personal/business, unsecured credit cards, lines, and loans to cover points, fees, closing costs, etc. expenses involved with acquiring real estate: www.400bankers.com/100ltvprogram.html

​@@NUCLEARARMAMENT That sounds about as risky as deep frying a frozen turkey in the kitchen. To each their own.

@@TheFootbaldd If you want to get rich quick, leveraging yourself to infinity is the BEST way to get there and still have decades ahead of your lifespan. I don't want to be in a box dead by the time I get north of a net worth of a million dollars.

it's always the "Too Big To Fail " idea

People lose their jobs all the time. Why didn't they prepare? C'mon now...

Why didn't they prepare for this? The news article really isn't correct. Hosts will suffer for the first month or two (they lost future bookings and no actual product). A host will simply sell the property or switch to long term renting. The market is huge and finding a renter can be pretty quick. Losses will incur but it wont fail most hosts, they will just have to switch the model. The consumer thou looses in the end by having less choices in the future. Want to rent a fully furnished beach house for your family and friends or all get separate hotel rooms?

@@Pynenberg3 Before Airbnb, short term/holiday rentals existed. It just wasn't done by the guy you share a walll with handing out keys to his apartments to strangers.

@@sinoroman The concept of "too big to fail" was not a topic of the video in any way shape or form.

Lmao

With his fraternity paddle on the wall lmao

not only that, but stop inflating housing prices.

...and diversify their listings on other platforms, setting up their own websites and improving their presence on Social Media....

@@GameFuMaster Heil COMMUNISM

Especially if they’re making millions of dollars. I don’t feel bad for them. Don’t live above your means, especially in purchasing a ton of properties only to flip it.

Yes indeed. The guy who was making 2 millions last year of revenue from his rentals, now he is thinking to go bankrupt 🤦‍♂️ I'm not sorry for him neither. Too greedy in my opinion.

Regino Rodriguez people tend to crazy with these things. Same thing with uber. It was marketed as “make extra income on your spare time” but then...

I agree Paul, always have 4 legs to a chair (multiple incomes). Its so sad that many blue collar workers put down someone who tires to make a bit more. Most of the negative comments here are by jealous people who cant stand when their friends and co-workers make an extra buck. They never see the amount of work that they put into it or how much of there "fun" money goes into a business. The good news... we love every moment of it even with the bad times.

Yep, never put all of your eggs in one basket. My restaurant business are doing so badly right now (worse since fasting month started. Opening the restaurant literally means losing money), but i'm lucky that my oil palm plantation is still going well

@@Centrioless Do you offer a early morning service?

You know this will drive up hotel prices (supply and demand) this pandemic will also raise home rental prices everywhere.

I agree they took a chance

@@Pynenberg3 what ? idk bout hotel prices but home rental is becoming more REASONABLE now

Pynenberg3 Hotel prices are regulated.

Property taxes and nimbys drive up rent prices you stupid fool. Every time you build a house you are taxed more providing a disincentive to build housing. Tax the land itself and not the buildings on top of it. Get rid of zoning laws and more housing will be built. Nimbys are the problem not airbnb. Stupid uneducated socialist ruin everything they touch. You are using the law to make business illegal through corona virus. Quarantine should be voluntary. You are using the law to steal from people and feel no pity. What if I put a gun to your head and stole everything from you, you are doing the same through socialist central planning

kxlot79 not to mention screwing over the hotel industry, airBNB doesn’t have to adhere to strict health codes and various taxes hence why they can charge low prices. Shady business

kxlot79 ur mad

So nothing on your countries central bank making it cheap to borrow inflating housing prices?

Yup

Sunshine Bowman-Gibson I strongly disagree with your assessment 💹

@@zcorpalpha2462 share your thoughts

Good to see a positive comment once in a while.

Sunshine. Cool err... warm name. 🙂👍

😂😂

LMAO

The business model won't, once this is over there will just be new entrants into the market.

@Liam 🤣🤣🤣👍

Liam 😂😂

@Liam This is exactly what I'm talking about, lol. A couple of years ago I was living in a secured apartment complex. Mine was at the end of the hallway, and there was a little hidden corridor adjoining the end wall of my apartment, that led around the corner to the internal fire stairs. Around 10pm I kept hearing some kind of thumping on this wall, so eventually I walk out the door and around the corner to have a look. And there's a guy and a girl stark naked, and he's giving her a stand-up pounding against the wall!! After pausing long enough to ascertain that it was at least consensual, I joined in. Nah just kidding I told 'em to do it somewhere else and they nicked off and presumably did. On the flipside, once while I was on holiday I went back to my hotel apartment with 3 women, and the concierge girls just smiled. No problem! I could give many more examples of both sides...

wouldn't mind if landlords & investment firms who've bought up huge swathes of leveraged properties to buy-to-let over multiple generations who've had a similar effect on the housing market suffer the same fate to be honest - as the effect is the same. The effect being - Inflate the demand for the housing market when the actual housing demand is the same by injecting increasingly ridiculous amounts of capital & credit against the value of properties - then lease the dwellings to recoup far more than the initial property value over time, further inflating the property value on the market - and people who would otherwise be bottom-rung home-owners are now shut out of the housing market and pay for years with zero equity even if their money is precisely what pays so many mortgages..

@Yuki BabaYaga The only time I use AirBnB is when I want to rent a whole house for use. If I'm just going to rent a room, a hotel is where I'll look.

If you believe Airbnb have driven up home costs and you are a customer of Airbnb then YOU also made home prices go up. LOL

They're allowed to practice covert racism, denying ppl basic living accommodations! Horrible!

Viruses typically die off within a few days and like any hotel it's a risk you take. Most try to disinfect. But if it worries you, just don't travel for a year or so.

He made $2mil in revenue but this guy still has to pay all the loans and tax of $2mil a year worth of property and with no income he's going to go bankrupt. He took a risk and lost from taking too many loans.

If it’s so bad I’m sure he can sell off his excess property to keep out of bankruptcy.

Adam Justin van Breen I used to do the plumbing for some of these investments Air B&Bs. They would max the valve of the property. Not just max. But go like 120% of the ARV, trying to make as fancy as possible. Depending on how many they have and how long they have owned them. They might not have any equity

Lmao he obviously over leveraged himself. Rookie mistake.

Of course he will... he must have docents of loans who still owns more than 90% or even 100% of each loan, so without any money coming in, the payment's loans won't stop anyways, and he can't even sell the property, because he won't even make any profit of them. Obviously he can sell them, but, most likely he will have to lose the property and the banks will just take them over. 🤷‍♂️ And if he has any equity, he might use it to pay his own house taxes and bills 🤷‍♂️ So much for making 2 millions a year, right? 😎✌

Pandemic proof😉

No company is....

no, they will go back to their position once the pandemic is over,

Let me explain .......until the vaccine is discovered ....nobody will travel ....airline tickets will also shoot up ....eventually nobody will take rooms at rent ....so no airbnb Feel free to ask me if something is not clear

@@vaibhavarora2122 all grocery and pharma companies are

I would expect nothing less. If you can't provide the service, then instant refund. Always.

yeah orlando is really going to be hit hard. tourism is about 80% of the economy of orange county and surrounding counties. Winter park and similar areas with similar value are already clearing out homes. people are selling like no tomorrow already and the way the housing market is going, that just might be the reality for homeowners here. meanwhile the preexisting homeless problem isnt even close to being resolved and the county isnt doing anything about the almost guaranteed influx of homeless people. After writing my comment I just realized that I didnt know if you were taking about California or Florida I guess Disney just has that affect on local economies.

elle ofhearts Two houses and no backup plan? Yea, too bad.

Your friend's mom could have found a long-term tenant for one of her properties and used the other as a short-term rental. That's what i would have done.

okthennone damn!

Brilliant

Good one!

🤣🤣🤣

Basically

Yup! And acting like the company deserves to die for their greed smfh

2 million dollars of revenue is not the same as profit. He has to pay for taxes, maintenance, interest rates, utilities, staff if he employs anyone. If you don't understand business don't comment.

​@@almerindaromeira8352 Few things to point out 1. 2 million dollars in revenue must involve a lot of properties, a guess of his properties being in double digits would not be unlikely. And this implies that you either had a lot of initial capital or took out a lot of loans. If the former is true , congratulations you are rich and if the latter is true, you kinda had it coming, the risk of default was pretty high if there any disruption in economy, and that's on you. 2. If you have multiple properties and you have lived in the past decade, it implies that you know that things could go wrong and you should be prepared for it. That is on you - don't go around spending all your money. Although I admit saving a lot could be difficult, but since I don't feel sorry for corporates not having a rainy day fund I don't feel it for individuals with annual revenue in millions. 3. Also I feel if you have multiple properties and this is turning out to be a really hard for you, you can sell some of your properties. Not going to be a profitable trade, but you have a way out instead of a lot of others who are backed into a corner. I mean there can't be millions of people with properties in double digits (maybe, I haven't fact checked this, might be possible), and being one gives you a lot of options, unlike most others. 4. Yeah you are right about me not being neither a businessman nor an economist, and with your comment, it seems like you aren't any of those either - so hey we are equal there. 5. As stated above, most of my knowledge about this is from internet, and the only thing I've learnt off of internet is that I can comment whatever i want lol, so parts of what is mentioned above (or maybe all of it) might be wrong lol. Sorry for the long comment.

@@rohitchaku5173 Good comment! Don't apologize though he was an ass lol

That is not how this works. This guy must have had loans to buy the property then rent it to pay off the loan slowly. Since he is looking at bankruptcy so soon I would say that his margin was very thin to none. 2 mil in revenue is not 2 mil in bank.

Banks can give you a mortgage to buy a house or apartment once you are able to pay 10% of the property value as deposit. Paying mortgage is a significant part of where the money goes.

and here in Canada too.

dylliedutch 😂 like business boy

but healthy don’t die, they recover within 14 days

The same can be applied to hotels or any place basically

Your own fear is worse than COVID19 itself 😏

@@Ashleyapples They also have permanently scarred lungs for life and the virus can reactivate and reinfect the host AND infect others. This isn't just another strain of the flu.

@@NUCLEARARMAMENT that sounds bad, i hope you recover. what exactly happened? how long did it take?

I know right my last 3 trips air bnb won 2, the recent they couldnt match the hotel I selected. Nice to have those options. Cant wait to be able to travel again and for even cheaper.

Just plain greed.... until CoViD-19 equalizes it 😅

Sarah Roiz LOL!

more like gambling addicts

He's pantless.

Oyo can survive because of hostels

Just like Scoters

@@adad2524 Yeah But OYO already has a lot of pressure to go profitable from investors

OYO is mostly used by young people on a hourly basis.. OYO is a brothel

@LLT Collection So what should I compare , AirBnB and Apple or something .... Both AirBnB and OYO are leading operators in the hospitality industry and infact AirBnB is an investor in OYO ....

Its almost like the increased revenues of short term rentals come with similarly increased risks of loss... wow /s

Agreed. lots of negative comments from people who fear there neighbors making an extra buck or two. My AirBNB was lots of work (way more than long term rentals) but I loved providing a great space for families to vacation. My wife and I love decorating the place for YOU the consumer. We loved making sure the place was spotless and had extra bonuses for you. The consumer is the real looser here, as a host I simply switch to long term renting.

Unless your white they don’t protect your car

@Shattered Dreams That's not really what is gonna happen. The host will switch models and simply rent it out long term. The host will loose a month or two of rent but that's about it. AirBNB wont die, only the non necessary employees will loose there jobs. Those people will fight for the same job you need. Hotels will charge more for a single room because there is no competition. Families will pay more due to loosing a full house with kitchen and separate bedrooms.

And free breakfast

@Shattered Dreams Actually all major hotel chains are crying "oh no! We're going bankrupt if we don't get immediate bailout money!". Read