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. "Having this extra stream of income is a cushion that really helps. It's been a real godsend," she Blum.
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. 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?
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. , 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.
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