What has your experience been since the Covid-19 outbreak started?

Initially, like everyone else, I experienced a tremendous flood of cancellations. We had over 150 cancellations within a five day period. But that allowed us to transition to mid-term rentals, which to me means anywhere from ten days to 90 days.

I’ve also seen a lot of last minute bookings from locals who want to have a place to party and have a good time -- which has created a lot of other unique challenges! But that’s where high quality management and a ton of experience saves big time.

So has your occupancy rate decreased? 

Actually, since covid hit, my portfolio that I manage has been just under or just over 80% occupancy during the pandemic when people are supposedly not travelling or going anywhere. So we’re right on target for our occupancy! 

Jan, Feb, and March is slow season, with a typical short-term strategy trying to get people in for 2-3 days. But with covid, we kept or reduced our slow season rates but went into longer stay bookings which filled our calendars and increased our occupancy.

How were you able to insulate your clients from some of the negative impacts of covid-19?

Our primary strategy has been to change from short-term to mid-term bookings. There’s a lot of different people who need those mid-term stays. 

We have people who live in other countries who just happen to be here and they can’t go home. We have people who are here because they are about to give birth, so they’ve come to the city [Edmonton] for 3 to 4 weeks to be close to the hospital and ready to go. There’s also been workers due to a ton of pipeline construction and those guys, not all of them live in Edmonton, so there’s a lot of out of town workers who are here and they’re busier than ever. 

So there’s still a lot of interest but the short-term demand isn’t as high as what it normally was. By not having that demand of short term stays filling up my calendar a month or two in advance, it’s allowed opportunities for these people who are pregnant to book for 4 weeks, or to allow the guys working on the pipeline to book 2 or 3 months, or these people who can’t fly home or who are flying back to Canada to book a few weeks. Our calendars are essentially open to where we can actually host those stays. 

There’s a part of me that thinks that demand was always there but my strategy and how we marketed, priced and listed our properties meant we were too booked to even attract or accommodate those people. It wasn’t even an option.
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Do you think you’re going to carry forward some of this mid-length booking strategy even after the covid outbreak ends?

I think this strategy will become a part of my tool belt. For some properties I manage, this is the ideal strategy, and for others it isn’t. 

For example, for a downtown condo within walking distance to Rogers Place, this mid-term strategy isn’t the most ideal over the next ten years. My assumption is that condo will attract people going to festivals and concerts, so that strategy will be different. 

However, for a 1 bedroom walk-out basement suite in the southwest of Edmonton, this is an amazing strategy. It provides an affordable, clean, and functional place to stay for people who are looking for longer terms. And for that homeowner, it provides them higher than normal [long-term rental] income where their property is kept in better condition, and they’ve got more flexibility on the people coming and going instead of a long-term renter who may not be a good fit but are down there for a year’s lease.

What do you think the short-term rental industry will look like post-covid? Will things return to status quo or will things be different? Or, like you, will other people change up their strategy a bit?

When covid hit, Airbnb decided to 100% refund all guests who could not travel, even if the hosts of those properties had strict cancellation policies. Homeowners choose a strict cancellation policy because they want to protect their income as much as possible, and when Airbnb overruled those hosts’ decision to have a strict policy and pulled money out of their account, a lot of hosts felt very violated and out of control.  They also felt they had built their investment structure based on something they had no control over, so that has changed how things will play out moving forward.

A lot of hosts have lost their trust in Airbnb and are creating their own website or going to a different website or moving their business to different areas so they can protect their asset and have more control over them, so that in itself will change how the industry works and operates. So will it go back to status quo? I don’t think so. Even in regards to travelling, it’s going to take probably 1 to 2 years or even 3 to 4 years to return to normal, depending on how long it takes for the economic recovery to happen. It’s going to take time.

What about Airbnb rentals themselves? What will change inside the rentals in regards to furnishings and amenities?

What we’re seeing right now, which makes a lot of sense, is a lot of people are working from home and I think that is a global standard that’s changed. Companies that have been on the fence about working remotely were forced into it when covid hit. Now they’re months into it, and their business models are operating differently, families are operating differently. The function and flow of the world has been forever affected. 

But people’s needs within the property are different than what they were before and that’s where the change is. People who travel for work will choose to stay in an Airbnb [instead of hotels] for cleanliness or separation from multiple travellers. They will need a place to stay and function and still have space to comfortably work. So I think there are places that may put more emphasis on office or desk spaces within their units to accommodate more people working remotely.

How do you think Airbnb hosts will be able to succeed in the new, post-covid world?

The people who can anticipate the needs of the new kind of traveller by connecting with them and consistently and continually asking them, “what do you need more of during your stay with us?” --  those people will be the top 10-20% who are doubling their income. It boils down to 80/20 principle in regards to furniture, amenities and location. 

If you provide the things that people are willing to pay for, that’s the winning formula.


Coleman Washbrook manages 35 listings in the Edmonton area and can be contacted via email (coleman@raisingstandards.co) or Facebook (@RaisingStandardsAB). 

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Is there a direct correlation between how uniquely furnished a property is and its revenue? 

There completely is. An easy way to explain it is this: there are typically 3 types of guests that you’re going to attract depending on the furniture and the quality of your property.

If you’ve got a great condo downtown but it’s sparsely decorated, you’re going to attract the person who just needs a place to sleep so they’re looking at the lowest rate. They don’t care about the experience, they don’t care if the kitchen is completely empty, they just need a place to sleep so they’re not going to spend anything over and above that.

Then there’s the next person who wants the comfort. They want to be able to go there and at least have the same quality of stay as what they would have at home, so they would want cable tv, good furniture, a comfortable bed, those kinds of things. 

Then there is the person who is willing to pay a premium, and that would be for a place that has furniture that’s better than what they have at home, or a tv that’s better than what they have at home. They want thought out and strategically placed decor to provide and create an experience. Most people don’t have that within their home so when they are going out or travelling and willing to spend their hard earned dollars, you’ve got a much bigger opportunity by providing an experience vs saving on what you spend on the furniture on the front end. 

You’ve got a better opportunity to double your income by spending on furniture on the front end. I’ve seen a complete correlation consistently across all our properties. 

How much does it cost to furnish an Airbnb? What is an average budget for furnishing a property?

Budget depends on the place but is typically $10,000-$15,000.

What is an approximate return on investment on unique vs. standard, Ikea-type furnishing?

Something that’s properly furnished and staged and presentable can easily double your return on investment.

What’s your current process to furnish a property? 

I have 3 different levels of furnishing a property. 

If someone wants a premium, luxury, high-end experience for their guests or if they want to maximize their return on revenue, I typically connect those people with a designer I work with. He then works with them to furnish their property.

Other people want mid-range furnishings and don’t have a huge budget to work with, I have someone who helps me select decor items, then I do the shopping for kitchen stuff and linens because those are the things I can do as a non-decorator.

Then there’s the person who has no budget, and they’re getting me and my decisions. I think I can do an ok job but I’m definitely not the best person for it.

So there’s no service right now that does it all?

No.

{There is now!]

What are some common mistakes owners make when it comes to furniture and decor?

The biggest mistake owners make is looking at furnishing from a price perspective instead of an experience perspective. They should think of furnishing it as being equal to or better than the hotel down the street. That’s the biggest mistake.

As Canadians, we have such a deep sense of being able to do things ourselves but the reality is most people can’t do furniture really well, you can go on Airbnb and quickly see it. There’s 20% of the listings that look really well put together, everything else is a mish-mash of old furniture put together just to have the items in the space.
Why do you think owners are hesitant to create a uniquely furnished property?

Most homeowners think: how much am I going to put into it and what’s my return on investment. They always want to drive down their investment because they think it’s going to provide the same amount of returns, which is completely incorrect.

Something that’s properly furnished and staged and presentable can easily double your return on investment. But oftentimes when I sit down with homeowners and look at what their competitors are generating for revenue, they take that number and they hold it as concrete and then try to reduce their input of furniture investment as much as possible. 

I understand their thinking - they want to maximize their return - but as soon as a guest looks at the furniture in the photos, they can tell it’s the same Ikea furniture, it puts off future potential guests and diminishes their return on investment so much.

So it’s a mistake not to uniquely furnish because it doesn’t draw as many potential guests to their property listing? 

Yes, exactly.


In Part 3 of our interview with Coleman, we’ll get his thoughts on the future of short-term rentals post-Covid.

Coleman Washbrook manages 35 listings in the Edmonton area and can be contacted via email (coleman@raisingstandards.co) or Facebook (@RaisingStandardsAB). ​

Architectural Digest's home tours are always inspirational. Here's a recent favourite.
What do you think? Should we use this home as inspiration for a Room Maker living room package?

Imagine a long day of travelling to start a new chapter in your life. You arrive at the doorstep of your new home, feeling tired and a little overwhelmed, and open the door to find it furnished, with beautiful decor and everything you need inside. You feel happy and relieved that everything has been taken care of for you.

Room Maker can make that happen. We can furnish your future home with furniture and decor packages chosen by you, online and in the comfort of your home. 

Our curated room packages offer full apartment or house furniture sets for every room in your  home. These sets include furniture, decor, and housewares. We deliver, install, and stage all your Room Maker purchases. We have a variety of packages to suit your style, whether it’s industrial, farmhouse, boho or midcentury modern.

You don’t have to set foot inside your future home at any point in the process, just turn the key, open the door and enjoy your new home immediately. All of our packages are delivered and installed within three weeks from the order date. 

Let Room Maker help you start a new chapter in your life by furnishing your new home  and making your relocation as easy as possible. Visit us at www.roommaker.ca to find the right room packages for your new home.

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Part of the excitement of moving into a new condo is furnishing and decorating your new home. You may already have some furniture or perhaps you're starting from scratch; either way, keep the following tips in mind.

Be realistic about the amount of space you have. You don’t want your condo to feel cramped by filling it with an oversized couch, a California king bed or a 7 piece dining room suite when the square footage just isn’t there. 

Before going out to shop for new furniture, measure out the space carefully. Make a scale drawing of each room including windows and doors and anything else that occupies floor space (like a column or bulkhead). Only then should you decide what pieces you need to purchase.

To keep your condo looking spacious and roomy opt for pieces better scaled to a small space. This means taking note of furniture details. For example a couch with a rolled back will take up more room when placed against a wall than one with a flat back and a chair with a busy pattern demands more visual space than one with a neutral colour scheme.

Keep multiple functions in mind when selecting furnishings for your condo. Take the humble ottoman for instance -- many not only provide storage space but they can also serve as footstools, extra seating and coffee tables.  

Selecting furniture and decor for a new home can be tricky, we get it. That's why we came up with our curated room packages with each item meticulously selected to coordinate with the overall theme. Take a look on our Make My Room page and find the room that best suits your style and your space. If the package needs a small tweak to fit, just let us know and we will try to accommodate.