Difficulty in finding a cohost leads to closure

[Johnny230]

I moved to Cluj-Napoca, Romania with the intention of starting a coliving space. Airbnb just so happens to be my biggest client pipeline. I have always catered to medium or long term guests but I still allocated a percentage of capacity for short term guests because they sometimes bring a huge profit margin when demand is high.

Unfortunately, Covid cost me approximately 4 to 7 months of profit. 

Although that may be the case, I can still operate under a small profit margin but only if I have an on-site host. All 4 of my listings are bedrooms in one big apartment with common spaces. I would normally live in one but after 2 years of this, I want to live elsewhere for a while. Managing this remotely is only possible if I have an on-site cohost. Unfortunately, the profit margin is simply not high enough for me to offer someone free rent, I can only offer 70% off for being a cohost. 

A cohost would do up to 10 hrs of work a week and would pay about $100 per month for accommodation at my centrally-located apartment. They'd save $200 - $300 on rent per month. The trouble here is that I just can't find anyone to do this!

I wrote an article on these last 2 years as a host. Here it is: https://johnnyilca.com/2020/07/22/transylvanian-coliving-reflection/

[Elena87]

@Johnny230 

You are asking for a committed and responsible employee to work 40 flexible hours a month for 200 dollars - then pay you back 100 dollars.?

Although they do get a room in a communal flat. Doesn't sound like deal of the day really.

If you can't get a local, maybe you can cast the net further afield. Some websites cater for wanderers who barter work for accommodation. Otherwise you can rethink your proposition with the property to make it more viable.

Airbnb closed down the co-host marketplace regrettably, but there are a couple of independent websites that try to get hosts and potential co-hosts together out there. Try there too.

[Johnny230]

@Elena87 

Although I want to cast the net further, I think it's important that the cohost knows the local language. It's very valuable to have a host/co-host that knows the local language. Many of my clients expressed this need. 

[Sarah977]

@Johnny230  I don't know what the economy is like where your listings are, but there's no way I would work 40 hours a month for $200 or even $300. $5- $7.25/hour?  In addition to having to share a home with a revolving cast of strangers? It appears that others feel the same. If it was a good deal, people would be beating down the door for the job.

[Johnny230]

@Sarah977 given the local economy here, $5-7/hr is reasonable for this type of work. The location and amenities of the apartment are also well above average. If you perceive the interaction with strangers as a negative aspect, then you're not the right person for the job. For me, it's a necessity because I work from home so I'm looking for someone similar to my position. 

@Elena87 

Yes, I've tried negotiating my agreement with my business partner. Although he is willing to cut me a deal, he's still asking for a lot and this is simply the best I can offer. 

[Sarah977]

@Johnny230  Well, if that's the going rate for work like that, then I guess there just isn't anyone who wants the job. I home-share as well, and also work from home, so I certainly don't see interaction with strangers as a negative, I enjoy meeting and hosting them. But I only host one guest at a time, they have their own bathroom, as well as a private entrance to their space, and the only thing we share is the kitchen. And I have a 2 week maximum, so I don't have to keep interacting with someone for longer than that if we don't jive, although I have to say that most of my guests have been great and easy to get along with. 

[Johnny230]

@Sarah977 yeah, I've found that most hosts take mostly short term guests (which to me is less than 1 month). However, I market my location as a coliving space which usually has clients who stay for 1-4 months, which I'd consider medium term. Being that I host multiple guests at once is a small way of outsourcing client interaction. Naturally, the ppl who live there will likely talk to the new guests and provide some of that comfort that guests look for.