This week, I want to share two pressing issues on my mind: the changing landscape of Airbnb and the often challenging period after completing on commercial property.
Airbnb Dilemma: A Frustrating Experience
As someone with a property on Airbnb for almost eight years, I’ve recently noticed significant changes in the platform. While Airbnb continually updates its features to enhance user experience, my recent encounters have been less than pleasant. Guests seem to expect hotel-like standards for cosy apartments, and their demands have become increasingly unrealistic.
My property, located in Bath, has faced challenges, from complaints about internet speed (despite my honesty about it in the listing) to guests lacking common sense in dealing with minor inconveniences. Airbnb’s policy of allowing guests to directly escalate issues to them, without first approaching the host, has led to frustrating experiences and unnecessary financial deductions.
Another point of contention is the Airbnb service fee, which guests sometimes mistakenly believe hosts control. The platform’s pricing algorithms are also a source of frustration, forcing hosts to lower prices to remain competitive. Despite these challenges, Airbnb remains the dominant player in the market, leaving me in a dilemma about whether to explore other platforms or stick it out with the current issues.
Commercial Property Woes: The Low After Completion
Shifting focus to commercial property, I want to emphasise the difficulties faced in the initial weeks or months after completing a purchase, especially if tenants are already in place. The transition period can be chaotic, with tenants likely testing boundaries and questioning the new management.
Expecting the worst is crucial. Tenants may want to leave, issue break notices, or voice concerns about the new management. The key is to remain calm and adhere to the lease terms. It’s a negotiation game, and maintaining a professional approach is vital.
While frustrations may arise due to differences in property management styles between the new and previous owners, it’s essential to view it as a changeover rather than a personal attack. This period of adjustment is typical, similar to the transition when governments change hands.
The takeaway is to anticipate challenges, seek professional advice, and handle issues pragmatically. Commercial property handovers with existing tenants rarely go without a hitch, but with the right approach, you can overcome obstacles and keep moving forward.
In conclusion, both the Airbnb dilemma and the low after completing on commercial property underscore the need for adaptability and resilience in property ownership. Whether it’s navigating guest expectations or managing a changeover in commercial property, staying informed and composed is key to long-term success.
PS If you didn’t catch my podcast from last week, you can listen here.
