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Related: About this forum'A Bargain With the Devil'--Bill Comes Due for Overextended Airbnb Hosts
Here come the defaults, unless they get bailed out. Depends -- are they Trump donors?
TECH
A Bargain With the DevilBill Comes Due for Overextended Airbnb Hosts
Entrepreneurs built mini-empires of short-term rental properties, borrowing against revenue thats now vanishing under coronavirus lockdowns
By Tripp Mickle and Preetika Rana
April 28, 2020 10:15 am ET
For years, Cheryl Dopp considered the ding on her phone from a new Airbnb Inc. booking to be the sound of what she called magical money. A property she rented out in Jersey City, N.J., on Airbnb could gross more than $8,000 a month, she said, double what long-term tenants would pay.
Now, Ms. Dopp associates the dings with cancellations and financial misery. The 54-year-old information-technology contractor said she had about $10,000 in bookings evaporate overnight in March. She has $22,000 in monthly expenses for a largely...
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A Bargain With the DevilBill Comes Due for Overextended Airbnb Hosts
Entrepreneurs built mini-empires of short-term rental properties, borrowing against revenue thats now vanishing under coronavirus lockdowns
By Tripp Mickle and Preetika Rana
April 28, 2020 10:15 am ET
For years, Cheryl Dopp considered the ding on her phone from a new Airbnb Inc. booking to be the sound of what she called magical money. A property she rented out in Jersey City, N.J., on Airbnb could gross more than $8,000 a month, she said, double what long-term tenants would pay.
Now, Ms. Dopp associates the dings with cancellations and financial misery. The 54-year-old information-technology contractor said she had about $10,000 in bookings evaporate overnight in March. She has $22,000 in monthly expenses for a largely...
TO READ THE FULL STORY
SUBSCRIBE SIGN IN
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'A Bargain With the Devil'--Bill Comes Due for Overextended Airbnb Hosts (Original Post)
mahatmakanejeeves
Apr 2020
OP
msongs
(67,441 posts)1. trump real estate biz having the same prob but they can steal millions nt
gibraltar72
(7,511 posts)2. Trump won't be broke until we are.
Warpy
(111,339 posts)3. Having watched the pressure Air BnB put on available housing stock
including most of the decent rental stock, I have to say I'm finding sympathy hard to come by.
Easy money fades quickest and a lot of these sleazy dealers get shaken out of the market, so much the better.
Raster
(20,998 posts)4. ahhhh how fucking sad...
...NOT!