Owing to Covid corporate housing has been one industry which has been forced to change entirely. What we have seen with the leisure and tourism sector has been incredibly damaging and this particular arm has certainly been hit hard. More than anything else, there is no call for these corporate short term rentals because of the fact that there is almost nobody who is traveling around for work purposes, and far less who are traveling for weeks or months at a time. This has caused huge problems for short term rental companies and they have been forced to change greatly in order to survive. These are just some of the changes which we have seen in recent months from these companies.
Helping Healthcare Workers
Many of these short term property owners took action very quickly to support the medical workers who had essentially been rendered homeless by this pandemic. Those healthcare workers who were in touch with patients who had Covid, had to stay away from their families in many cases because of the fact that they were a risk and they couldn’t then go home and put others at risk. Property owners opened up their doors to these amazing men and women and gave them free and heavily discounted rooms.
Taking The Time To Get Ahead
A lot of property owners of this type have been taking this opportunity to get any maintenance or decorations done on their property during this down turn. The idea of many is that whilst they are losing money in the now, they plan to recoup much of that moving forward through increased prices which they will be able to charge based on having a more attractive property. This makes sense of course but there is still an awful lot of money out there which is being lost by these companies.
Switching the Client
Another thing that we have seen during this crisis is that a lot of those properties which were dedicated to Covid corporate housing which have now decided that they are going to open things up to whatever type of client they can find. There is no doubt that these places are designed for corporate housing but in the current climate they have to take whatever it is that they can get.
Regardless of what these companies have done with regards to changing clients or supporting healthcare workers, they have all had to completely changed the way in which they are doing things with regards to cleanliness and hygiene. Not only do things have to be cleaned more often than before, the level to which they have to be cleaned is incredible and they have to be able to offer clients maximum confidence that they have taken all of the necessary measures to keep them safe during their stay.
We don’t know what the future of this looks like of course but what is important is that all industries and sectors have a clear understanding of the need to remain flexible.