Quest, Australia’s largest serviced apartment group, is telling self-funded retirees and other landlords whose rent is guaranteed by them that they won’t be paid for months because of the coronavirus crisis.

Quest has more than 160 hotel properties across Australia, New Zealand and the Pacific, mainly operated by franchisees who pay rent to individual apartments investors under long leases. But with bookings now slumped, letters have been sent to landlords mentioning even the possibility of closing some of the businesses.

Unlike Airbnb landlords, Quest apartment owners cannot offer their properties as long-term rentals during the pandemic, but can only lease their units back to Quest franchisees as hotel accommodation.

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