San Francisco Airbnb hosts struggle to rent homes amid the city's barrage of bad press
SAN FRANCISCO -- As the city of San Francisco faces a barrage of bad press about crime and car break-ins, some short-term rental hosts say they're feeling a direct hit on their bottom line.
Thirteen years ago, Cathryn Blum was looking for a way to make extra money when she stumbled on a Craigslist ad for a little-known startup called Airbnb.
It was so new that when she signed up, she was only the 36th host in San Francisco.
"Having this extra stream of income is a cushion that really helps. It's been a real godsend," she Blum.
Even though times were a little tough during the pandemic, last year guests started to return, with more reservations than she could handle. Her 2022 calendar was nearly fully booked from July through November.
But these days, the home which she affectionately calls "The Nest" is empty. She says the few people who inquire are hesitant to book because of safety concerns.
"People are saying, 'Oh it's a terrible place and there's crime everywhere.' And I think that that's unfortunately had an impact on people coming to visit," she said.
Keith Freedman is the owner of HostWell, a company that manages more than 40 short-term rentals in San Francisco. His calendar tells a similar story with almost no bookings in July and August.
Last year, he had over 96% occupancy. These days, he's lucky to get half that. He says the number one question among his guests: Is San Francisco safe?
"I can't blame the press for stating what's actually true, because it is true. But I do think they're unfairly picking on San Francisco," he said.
Airbnb would not confirm whether the number of bookings has gone down. But the company said that the average salary for Airbnb hosts in San Francisco is now $26,200, up from $18,900 in 2019.
According to SF Travel, the decline could be a result of several factors, including a sharp drop in Asian and business tourism. Not to mention, the wave of travelers making up for lost time after the pandemic is now winding down.
The good news is that visitor volume is expected to exceed 2019 levels by 2025. But that might be too late for hosts like Blum, who may have to move if things don't turn around.
"This is home, so to have to at this stage of the game rethink what has been over 40 years of my existence is terrifying," she said.
Airbnb would not confirm that the number of bookings has declined, but the company did says the average income for hosts in San Francisco is now $26,000 a year, up from $19,000. in 2019.
