Owners of Airbnb properties are switching to longer term renting, as tourism slumps following the coronavirus pandemic.
Auckland based Airbnb property manager Zodiak has lost more then a third of its clients since the pandemic.
Managing director Stefan Nikolic said before the lockdown it managed 80 Airbnb apartments in Auckland’s central business district, but 30 properties had been lost since the pandemic hit.
Normally, they have 300 bookings a month, but last month that dropped to 60 bookings, cutting their profits by 70 per cent.
“I thought there would be more interest after the lockdown, people keen to get out and do some travelling, leave their homes,” Nikolic said.
“There are some bookings, but definitely not the kind of massive resurgence I was hoping for.”
Zodiak received $21,088.80 from the government’s wage subsidy scheme, Nikolic said.
READ MORE VIA RNZ