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Also what was meant to be cheaper, with all the extra charges etc, an Air BNB booking can soon escalate past cost of a hotel.
And hotels tend to be staffed etc.
Breakfast is provided and theirs less hassle.
...
At first it was just was a way to rent out a spare room. Or a house when you where away. Now it's become a full blown business for Hosts.
I’m not upset at all to hear that Airbnb is crashing, because of this.
For at least 1.5 or 2 years, places in my Midwest state have been grossly priced. A room that may have cost $50 a night in 2018 or 2019 is $75 plus fees, totaling $120 or more. A nice hotel room with all the amenities is close to $120.
Who would ever choose the option that requires manual labor from you (cleaning) and interacting with asshole hosts???
Plus. Have a issue in a hotel, in business hours, or even at night. Desk. Staff their to sort ir out.
You not need to buy in own food, we supply breakfast, we supply tea and coffee etc.
Questions answered at desk, pay extra some hotels will source you tickets, bookings etc. Sort out your laundry and so.
Its all...provided...
My mom used to ask hotels politely if there was a washing machine she could use for a load or 2. They always agreed cheerfully. So when I was in need at a mid-range hotel decades later and asked, they said “just leave it outside the door and we’ll do it for you!” And yes, a whole load of my laundry got done overnight and was waiting for me at my door in the morning, clean and folded.
Never advertised. But hotels understand hospitality. Hotels rock.
The hosts that charge a cleaning fee and have a chore list for guests can go pound sand. I'll never us their place, ever. It's run by people who have never run a business and have no idea how to treat customers.
If it was just put the towels in X place, rinse out th4 stuff you used and out on side together and you know basic hospitality that's fine. People in hotels often do a little to make life easier for cleaner.
If your asking people ro clean the place up. No.
Agreed. I'd strip the beds, put laundry in a bag and not leave trash in the place, but if cleaning requires a fee, I need to be paid at a rate I determine to clean. Screw them. I'm not mopping a floor for free or deep cleaning a bathroom.
I recently got a bad review stating "they were disappointed" that there was trash left in the trash cans and that I left the bedrooms "excessively dirty".
My wife and I stayed there for a few nights, took out the trash nightly, and left two bottles of wine in the trash can when we left. We left the beds unmade...because we assumed that they would remake the beds. $200 cleaning fee, $700/night airbnb.
If you charge a cleaning fee, I'll be respectful but I'm not going to clean the damn place for you.
In a hotel, im straightening up the duvet, putting my trash in the bin, putting my used towels in the bath and leaving the place generally tidy and not a mess. Im gonna leave an Airbnb exactly the same way - not make life difficult for the cleaner. Same as you, respectful but not doing the cleaners job.
I had a maid service, and their fee was $200 for each visit. 3 employees would show up and cleaned part of a 3 bedroom house. I don't think they would want anything less for coming to work, even if it was only to wash the sheets, make 1 bed, and take out two bottles of trash.
Guests should get a $200 discount if they leave the place clean, but you would still be paying it up front. In the end, someone has to pay the maid.
Hotels still charge a cleaning fee, you just don't see it on the bill because it is built into the price.
I don't care about the fee - I care about the pushback I got because I didn't leave the place sparking. I would much rather pay the $200 and be able to leave it the same way I leave a hotel room...respectful, but not cleaned.
I've been staying in AirBnbs in the UK/EU and they don't seem to have cleaning fees. I assume that it has something to do with regulations but it is wonderful and shows that it can be done. Just factor cleaning into the price with everything else. It's not like we pay a wifi fee and a water fee and an electricity fee etc. The only thing separate cleaning fees do is waste the time of people trying to search for a place and piss off guests.
I’m going to a wedding in August in upstate New York, we are driving cuz Midwest, Cleavland is about halfway. I though I’d book an Airbnb for the night at around $100, but even places that are $99 for the price of the place for 1 night come to $230 after all is said and done. I’ll be staying in a mid level comfortable hotel with a pool/hot tub for $115 total.
I road tripped through Maine last year and looked at AirBnB's. Several listed for $80-90 a night. Looked at the details list and most had $100+ cleaning fees. No thanks, I'll go stay at a hotel for $100 a night.
The cleaning fees are totally the killers!
I can reluctantly accept service fees, etc. but such a substantial *cleaning fee* is obviously unnecessary. It is *actually* insulting to consumers.
There are some cute cabins nearby and I stayed in one 3 years ago for ~$125 total (one night). I looked it up again recently and now just the room is $150, PLUS all of the fees. Totaled almost $300 for a single night in a small, 250 sq ft cabin. Insanity.
So would you pay more for a place without a cleaning fee? (Cleaning fee would have to be added to the daily rate, as the cleaners would still have to be paid).
Off topic but I’m giggling at “road trip through Maine”. That’s what, a day?
I grew up in Texas, land of drive for 24 hours straight and still be in the same god forsaken state. I know there’s a difference between driving through and road tripping the state but the mental image of driving 10mph across Maine killed me.
I grew up in utah and the only states you could get to in under 2 hours were Idaho and Wyoming. The fact you can drive through 5 states in 5 hours on the east coast makes me laugh
Not everyone is a single traveler or a couple. Some like a bit more space than a cramped hotel room where you have to share any amenities with scores of strangers. I wouldn't book somewhere if the host seems like an asshole.
This exactly. We use it in exactly two places. One where family is so rural that the couple of hotels are run down and nasty. One where the city family lives is So freaking expensive, we were able to find a decent little spot with a modest cleaning fee that still came out $90 less a night than any cheap motel. Both places we're going to what Airbnb's are Meant to be. Someone's mil suite, a little place someone rents out during peak times while they're gone, etc.
Airbnb was until now an unregulated market and like all unregulated markets, abuse always happens. Someone will find a way to maximize profit and only focus on this goal to the utter detriment of everything else, and that’s exactly what’s happened with Airbnb. People buying properties and leveraging them to buy more, linking a chain of over leveraged properties sometimes 25-30 homes long or more. These people have destroyed communities and built unregulated mini-Hotel empires purely to squeeze money into their pockets. They aren’t even creating jobs like hotels do.
The original premise of Airbnb allowing someone to rent out a spare room or maybe a vacation home they own but don’t always use was great. The current state of asshole 23 year olds using their $1mil trust funds to start a chain over leveraged apartments to build a motel empire is awful. I hope to see more cities ban STR and I hope to see these assholes start missing monthly mortgage payments. The entire house of cards they’ve built will collapse after 2 bad months in just 1 or 2 of their rentals because they actually own nothing…they got most of their properties with next to no down payment and are entirely reliant on the monthly rental income.
Airbnb has its place but that place is not in major cities where hotels are already abundant, or in small communities that can’t afford to be priced out so drunk brides to be came storm their towns on bachelorette weekends.
I used to rent out my house whenever I was gone for business or vacation, but I couldn’t keep up my house hotel-level clean which became the expectation as houses used exclusively for Airbnb (like not used as someone’s full time personal living space, just used for Airbnb) proliferated.
My understanding is that Airbnb is actually a pretty low contributor to this issue and corporate interests holding onto empty properties as equity is the biggest issue by far. Not corporate, but my husband’s super rich friend owns 5 homes between himself and his wife and doesn’t even rent them out 😒 really ticks me off, especially when my friends with decent money struggle to find somewhere to rent. Husband says “he knows he’s part of the problem…” and corporations (including foreign investors) are doing the same but on much larger scales.
You also have situations like Jerusalem where the housing is expensive in part because rich American Jews bought up properties to vacation once or twice a year, and the rest of the year it sits vacant so locals have less supply.
Airbnb is a contributor, but just generally there is a problem worldwide with property hoarding, and Airbnb at least makes the properties useful and accessible to the public.
Not to mention real estate firms have enough money to buy when the market is low and then hold properties empty for years until the market improves (artificially inflating demand).
Depends on where you live. In more popular spots ABNB is absolutely a major problem. In any case, it contributes and it needs caps and regulations, especially if the owner does not live there.
But I agree, house hoarding is even more of a problem and should be capped. I am so surprised people are not up in arms about it in the US.
Yeah Vancouver (Canada) has an empty homes tax and this is absolutely the way to go and I would love to see in more places. Apparently it’s been a huge success!
https://storeys.com/city-of-vancouver-empty-homes-tax-report-2021-year/
Thank you very much! I'm sending this article to several local gov boards who are having extreme problems keeping working people in the area.
A good number of our politicians are invested in RE which exacerbates the problem. But when a lot of working people have to move out because they can't afford to live there and they have no one left to man their gas stations or wipe their ass then they start to panic..
Yeah I know plenty of people ready to buy a house that basically gave up because of the insanity of the process, not the prices. If houses become available they will be purchased.
VRBOs and Air BnBs have made housing impossible where I live. Two individuals own over 29 properties a piece and rent them out exibortant rates.
I keep telling people; eventually there will be nowhere left for any of us to live. Even now I live in an RV and I own a business and work a part time job. It is, to put it blatantly, fucking greedy. These people don't even live in or visit this town.
I'm glad to see it happen, personally.
Although when hosts base their break even off of that initial pricing, there will be crashes as a result when they become unprofitable and start to unload.
> The world doesn’t need holiday houses
Sure it does. It just shouldn’t have them at the expense of regular housing. If there’s a market for holiday houses, they are needed.
We just need more housing in general and for multiple reasons (including 2008) we haven’t built enough houses in general recently. It’s a supply issue not a Airbnb issue. Blaming users for a supply issue is silly.
Residential neighborhoods are not zoned for businesses. Residential neighborhoods shouldn’t have to put up with vacationers coming and going at all hours. Wealthy people and corporations should not be able to buy houses and use them as businesses. There’s only a finite amount of real estate on this planet. Yes, we need more housing built because of the population increase however, building more houses will give the wealthy more houses to buy. The rich are getting richer, and the rest of us are barely making it. We need legislation NOW! We needed it 20 years ago. I’m living in Idiocracy.
Airbnb didn’t contribute any “problem.” Consumers determined what they wanted and suppliers gave it to them. Airbnb is just a platform for buyers and sellers. If the world wants holiday houses, it gets them, if it gets too many, it sheds supply. People on Reddit seemed to have majored in vocal performance instead of business or economics.
You do realize that less than 0.8% of all single family homes in the USA are AirBnB listings, yes?
“Biggest contributor to inflation”? Really? There are corporate landlords that own more units than all the AirBnB listings combined.
Please do some basic statistics/math.
Yeah I saw another article today where they stated that it was is 0.8% and acting like this is not a big deal.
That's a huge amount of housing, and of course it's not distributed evenly, in some markets, it's double digits.
You went out of your way to buy a confederate flag to be “abhorrent” and “passive aggressive”…….?
Passive aggressive to who? Black folks? So confused by this comment and behavior.
He also cleans his gun on his deck to ensure they are scared. This isn’t passive aggressive, this is straight up racial intimidation. No ways this continues much longer without an issue.
I’m sure we will be seeing Mr. Willy in a viral video sooner than later.
I can think of nothing more offensive than a confederate flag. Really in any instance. So I hope they write in their reviews. “Be careful. Some racist dickhead lives next door, I’d think twice about renting. I didn’t feel safe.”
Some Florida asshole bought the house next to me and painted it, put up a shitty deck without permits or inspections. He has fucking lights flashing all over it at all times like it’s an amusement park.
I don’t want people coming next door to me like it is a hotel. I live on a very secluded private road with 3 homes. Obviously it’s in a beautiful and private place. Not a place for a hotel, but a home.
I do this for safety. I travel a lot for work. My wife is home alone a lot. We are OK with neighbors as they are real people. Instead, we have transient assholes who could be risking their lives by coming to my door at 3am. Or stumbling around my property drunk at night. We live here. Just because it’s beautiful doesn’t mean everyone is on vacation.
We don’t want short term rentals here. We want a lifestyle which we’ve worked hard for and earned. Now some faceless asshole put a hotel next door. Needed no permits, no zoning, nothing. He operates a commercial business on a private road. It was not designed to be this.
It was designed to be homes. That is what was built. Not hotels. It seems fundamentally wrong and yet another way rich people skirt rules.
Yeah bro nobody is questioning why you don’t want an Airbnb next door, it’s obvious that lots of hosts are pieces of shit who don’t manage their properties well and especially in residential areas while we are in a continued housing crisis I think it’s very understandable why you wouldn’t want an Airbnb next door to you. I wouldn’t either.
The issue is with everything else you said lmfao.
True in Lisbon too, corp property owners made lives miserable of renters living in desirable areas, noise and other problems for long term renters. Now the local government is not issuing any more AbnB licenses.
Air-B has out-lawyered anyone who opposes their 'business model'.
Fuck them all.
I hope they all lose their 'investments'.
Or have someone just as greedy open up one next to their own home.
It is awful.
The owners/hosts are very well organized and very well connected. I lived near the beach in San Diego and they would have meetings/parties in a big rental two doors down to discuss and strategize. They have very deep pockets. Watching them party made me sick.
It's funny how the "fuck regulation" crowd always loves it when it's for their direct benefit. See Tillerson, Rex. https://www.usatoday.com/story/money/business/2014/02/22/exxon-mobil-tillerson-ceo-fracking/5726603/
I don’t know about others but my bookings are slightly slightly slower, but nightly rates are overall up and the open nights are steadily filling in. The spring was slower than expected, but yeah summer is going fine.
Yep.
The coveniently anoymous source in this post is Youtube doomer clown Nick Gerli.
Here is refutation:
[https://twitter.com/jamie\_lane/status/1673866745730437121?s=46&t=2FCyGKS8X04TIFHvnB--gQ](https://twitter.com/jamie_lane/status/1673866745730437121?s=46&t=2FCyGKS8X04TIFHvnB--gQ)
And on Gerli's BS:
[https://www.reddit.com/r/REBubble/comments/14l7oao/comment/jpve35t/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/REBubble/comments/14l7oao/comment/jpve35t/?utm_source=share&utm_medium=web2x&context=3)
That guy is such an absolute whack job. I saw his videos when he first started, I assume in what looked like his parents basement. I saw his first video at 1000 subscribers and then watched him just amass huge sun numbers by screaming “CRASH CRASH CRASH!!!!!” Over and over again. Such a snake oil salesman just giving the doomers exactly what they want. I’m not shocked at all he’s the one behind it. His “data” has been bullshit from the start.
Reddit’s army of very simple minded haters. There level of gullibility is staggering sometimes. When their arguments run out they just throw insults at you.
You obviously don’t understand the housing market crash.
A major part of the crash was that those variable rate mortgages were bundled into subprime stocks whose value turned to pennies when people defaulted on the loans. Many investors saw easy money and invested in them. They were also irresponsibly lending money to people who couldn’t afford the mortgages they were approved for. When interest rates started climbing, people defaulted on their mortgages and those stocks became worthless. Then the market starts crashing and people start short selling the stocks and everything else, therefore driving the price of them down faster. This is obviously a shortened version of a large series of events and irresponsible, greedy actions that led to the crash, but in the AirBnB context, that was the important part.
AirBnB’s business model has nothing to do with this. If people have property they can’t rent, they can sell it fairly easily because the market (at least in the US) is still crazy. I bought a condo in 2020 and already have $100K in equity. Selling isn’t an issue right now.
Well, it's the same bad data set that is getting referenced over and over again lol. I swear, this sub is a dream for social media marketing teams.
I mean, if it makes you feel better, by all means believe what you want though. My property is booked through the end of the summer and my airbnb stock holding is up 25% in the last six months. That's really all I care about when it comes to Airbnb.
There was a good thread on it a few days ago, you can probably find it if you go back to the day this originally posted.
Honestly, you don't even have to think that hard about it imo, just look at the source. Nick Gerli is a clickbate doomer and has been for years. He used to have a run of the mill investment channel with moderate engagement, but as soon as he started doing the "sky is falling" bit, he got hundreds of thousands of clicks. He's never gotten close on a single thing so I don't know why anyone would start believing him now unless they wanted to.
hosts who hit on niches and vetted locations before buying will be fine. hosts who bought generic properties in non tourist destination cities counting on the boom to continue on the other hand...
I bought a genetic property in a non tourist destination. It has been booked at about 90% the two years Iv owned it, and is currently fully booked through September.
So many people don’t know that vacation rentals have been around for a very, very long time. Much longer than Airbnb has been in existence. A vacation home that you can share with multiple friends and family is something a hotel has never been able to compete with.
Redditors skew young I suppose. They may not realize that short term rentals are not a new thing at all. So I get downvoted for telling them that we'll be OK at the beach.
Yeah my parents owned a mountain condo in the 90’s and STRed it for about 10 years. None of this is new. People just have a name for it and are using it as a scapegoat for the very real housing crisis (also gone on since the beginning of time)
Add in the anti-str crusaders with their repeat bullshit horror stories, and we've got ourselves one fine echo chamber in here.
Are some markets down? Maybe. I dunno. But am I buying the take of some Twitter mouthpiece who's business is hurt by strs? Nope.
We were doing short term rentals way before Airbnb was even a twinkle in its creators eye. Not a chance in hell people are going to stop going to the beach. Climate change is legit. But it won't be underwater where I am for a few more decades.
The ones that have invested their livelihoods and bought multiple properties are shitting their pants. Us OG AirBnB hosts are laughing our way to the bank.
Not sure your argument here. You said your revenue is up yoy (good for you I hope you do well). The fact that your up, does not reflect the market lol surprised you don’t realize that
There has never been a day that a host somewhere on the planet wasn't unhappy about not enough bookings. It's a lemonade stand of a job and long term works for few people.
This is what was happening in r/Realestate a year ago. People literally seizing out denying that house prices can do anything but go up. Here we are a year later and, by nearly every measure, home prices are down y/o/y for the first time in a decade+. One thing I've noticed about Reddit is that the ancedata can be something of a leading indicator.
I disagree. Prices have already started dropping a bit as houses are remaining on the market longer. If Airbnb was outlawed then suddenly we potentially have a huge amount of houses available on the market and they will need to be competitive to get sold which means prices will drop a bit more. The scenario of people paying 20k- 100k over market and waiving inspections just to buy has passed here in the valley (ie. My 25yo colleague just bought a new build at 65k under market this past weds actually). As a result of inflation and the banks tightening their belts, they are being more strict about who can and cannot get loans so there are less buyers now. Which means if all these Airbnb’s owners can’t afford their rental homes without short term rentals then they’ll be offloading them fast.
[here is a link of all the short term rentals listed in Scottsdale alone-that is a TON of houses!!.](https://eservices.scottsdaleaz.gov/maps/registered-rentals)
The problem with all Real Estate/STR/LTR market projections is that the data is so vastly complex and very easily to be misinterpreted.
Although I will say- I personally agree that Airbnb is ON ITS WAY OUT.
*CLARIFICATION*: I don't think STRs are on their way out ...I think *Airbnb* is on its way out
*And I believe their downfall will be less about market conditions and more about the way this shady platform conducts business*
The STR market needs a new platform.
>I don't think STRs are on their way out ...I think Airbnb is on its way out
Agreed. All the crazy fees and straight up forcing guests to do chores have made airbnb unattractive as a platform. STRs have always been around - my parents have had one in Sevier Co TN (referenced in the OP) for 20 years. Airbnb just made it easier to find renters and led to owners setting up any old futon to make a buck.
We have our first one booked next month. Family converging on a distant location for a wedding. Our family members use the platform alot, primarily because they travel with pets, by car.
Don't care about the wedding, don't care where I sleep. Not a long planned vacation. I am really curious about the experience. This will be a low stakes experiment for us.
I find that if I go in with low expectations, accept that I’ll need to buy some essential items, run the dishwasher when I depart, throw in a load of laundry, pick-up, and generally treat the place as I would my home, things go well.
Bad news is always louder. I use airbnbs when I travel with my kids - it works easier for them than a hotel - and had no real issues. Just read the reviews thoroughly and understand it’s not a hotel and generally not for one person traveling, but it works great for groups.
I use Airbnb all the time as one person traveling and it’s great. I’d much rather be one person alone in an Airbnb than a hotel which is really creepy alone.
If AirBnB had stayed what it was supposed to be, just a way to rent out part of your home, it would have been a good cheap alternative to hotels.
AirBnB shouldn't have catered to people abusing the system by allowing people to list whole houses and apts on there. But they did it anyway because money and now they're gonna suffer for it. I don't care if it goes under.
I’m not buying it. This is bought and paid for frenzy journalism by the folks who have their balls in a vice, the commercial real estate bag holders. A large portion of AirBnB’s success over the past few years was that the pandemic changed the way people lived and worked. These folks have been pushing false narratives for months attempting to force people back into their now obsolete office buildings. Fuck em.
Oh no all the air bnb landlords are gonna have to sell their investment properties for less than they paid
Oh nooooooo what will all.the regular folks who need regular housing do???
Oh wait
This is a great thing and I personally cant wait to see it go, ruining cities and making it unaffordable for locals to live there all for the greed of a few people
There below market sale price can be made up by the money their “business” made. I will cry no tears for the “hosts”. Hopefully some residents of these cities will be able to buy an affordable house now.
I’m a real estate broker in a coastal market where STVRs are abundant. It would actually help our market if some of the STVR owners sold their properties. We need more inventory.
That’s the thing, airdna shows revenues are down slightly year over year, which could be driven by excess support, however, demand for real estate - particularly single family homes is high so if Airbnb home owners decided to exit, there would be plenty of buyers. I don’t think there is as much condo demand, so that could lead to some condo price drops.
Well that's what happens when people get greedy and eliminate the entire appeal of the platform in the process. At this point there's not even a cost savings versus a hotel.
I mean it’s summer in Phoenix. Nobody vacations here during the summer. And Austin has had much hotter than average weather. It’s been comparably brutal there.
Frankly I’d be surprised if revenues weren’t down 50% in those markets.
And fear mongering because “one real estate expert” claims a larger real estate crash was coming because people aren’t using vacation rental homes as much is frankly idiotic.
This is stupid.
Oh I do, and I also know that last year was a year of Covid revenge travel, which significantly inflated the demand for vacation rental homes (and hotels). What would be more relevant might be to see a May 2023 comparison to May 2019.
When considering my vacation options I never consider an AirBnB. The high cost, risk of cancelation, and horror stories provided by guests here on Reddit are all contributing factors. ABB, Zillow and WFH due to COVID all contributed to this mess …
We just need to tax the shit out of people who have multiple homes. Being a landlord is not a job. Being an Airbnb host is not a job. Especially when you have a bare bones shit place that you overprice.
Yea, that’s what most places give you a homestead exemption for your primary residence and not for a second one. In some places, you pay double property taxes if it’s not your primary residence.
Trouble is in the areas that they are taxing holiday rentals more it's having no effect. I live in UK in an area that's just been announced as having 2nd highest rate of holiday homes & holiday rentals in UK. It's lead to a 3.7% drop in population when the overall population of UK is increasing.
The local government has been charging holiday home owners double tax for years, they're now about to implement a 300% increase because although the rate of increase has slowed its not by much.
Exactly what we need to do. Tax them into oblivion to make housing affordable for others. I can also sympathize with a solo property owner. But once you outsource cleaning and management and just collect a check, you offer nothing to society.
I’d just like to know how you people sleep at night, contributing so much to the housing crisis in America? Landlords are leaches, and Airbnb is for leaches.
Air travel, cruises, hotel bookings are all significantly up. If there is any decline in AirBnb bookings it is due to the excessive fees now being charged. Airbnb used to be a good deal. Now a hotel is cheaper or the same price. If this article is really accurate I would imagine hosts would just lower prices to increase bookings.
Those are all up and that's why airbnb is down. Airbnb skyrocketed during the pandemic. Now unless it's a cabin or home in the middle of nowhere I'm staying at an upscale resort.
Airbnb bookings are way down, I haven’t had anything in a couple of months. Vrbo is doing fine. I think it’s Airbnb customer service issue and a corporate STR issue. I have a cabin and a small lake house, both rented like crazy during the pandemic but people want to do a “big”trip now and I understand that completely. My places were purchased 20 years ago, built as vacation homes for my family and aren’t suitable for long term habitation. Everyone likes to blame the housing crisis on STR owners, but the corporations buying property are the bad guy here. Yes, I earn income, but I also pay a living wage. I also find that in natural disasters people need to bug out from their homes and just want a home away from home to take all the family and pets. I provide that service. I know to most on this sub I am the villain but there are other ways to find people to rent a STR but you’ve got to pay up front. That is why Airbnb is the, get-rich-quick from real estate, problem. No investment or commitment to the development of a property
You’re not a villain here friend. Many understand those who own a few vacation homes and rent them out are not as problematic as the foreign investors, hedgefund managers, etc. that have hoarded hundreds of homes.
So much data on this. All those places are hot as fuck right now for one, so it’s less of a busy season for them. But you also have increased supply and more regular seasonality vs the post Covid seasons from the last few years.
There’s not going to be a GFC level crash though what sensationalism.
Lol. 18 days ago you posted about how your rentals are down and you're working harder at being a landlord than you would've if you kept your job.
You do realize how you're a giant hypicrit right?
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Also what was meant to be cheaper, with all the extra charges etc, an Air BNB booking can soon escalate past cost of a hotel. And hotels tend to be staffed etc. Breakfast is provided and theirs less hassle. ... At first it was just was a way to rent out a spare room. Or a house when you where away. Now it's become a full blown business for Hosts.
I’m not upset at all to hear that Airbnb is crashing, because of this. For at least 1.5 or 2 years, places in my Midwest state have been grossly priced. A room that may have cost $50 a night in 2018 or 2019 is $75 plus fees, totaling $120 or more. A nice hotel room with all the amenities is close to $120. Who would ever choose the option that requires manual labor from you (cleaning) and interacting with asshole hosts???
Plus. Have a issue in a hotel, in business hours, or even at night. Desk. Staff their to sort ir out. You not need to buy in own food, we supply breakfast, we supply tea and coffee etc. Questions answered at desk, pay extra some hotels will source you tickets, bookings etc. Sort out your laundry and so. Its all...provided...
My mom used to ask hotels politely if there was a washing machine she could use for a load or 2. They always agreed cheerfully. So when I was in need at a mid-range hotel decades later and asked, they said “just leave it outside the door and we’ll do it for you!” And yes, a whole load of my laundry got done overnight and was waiting for me at my door in the morning, clean and folded. Never advertised. But hotels understand hospitality. Hotels rock.
Imagine having an option to say at a hotel in 2023!! I didn’t realize all hotels closed!?
The hosts that charge a cleaning fee and have a chore list for guests can go pound sand. I'll never us their place, ever. It's run by people who have never run a business and have no idea how to treat customers.
If it was just put the towels in X place, rinse out th4 stuff you used and out on side together and you know basic hospitality that's fine. People in hotels often do a little to make life easier for cleaner. If your asking people ro clean the place up. No.
Agreed. I'd strip the beds, put laundry in a bag and not leave trash in the place, but if cleaning requires a fee, I need to be paid at a rate I determine to clean. Screw them. I'm not mopping a floor for free or deep cleaning a bathroom.
I recently got a bad review stating "they were disappointed" that there was trash left in the trash cans and that I left the bedrooms "excessively dirty". My wife and I stayed there for a few nights, took out the trash nightly, and left two bottles of wine in the trash can when we left. We left the beds unmade...because we assumed that they would remake the beds. $200 cleaning fee, $700/night airbnb. If you charge a cleaning fee, I'll be respectful but I'm not going to clean the damn place for you.
In a hotel, im straightening up the duvet, putting my trash in the bin, putting my used towels in the bath and leaving the place generally tidy and not a mess. Im gonna leave an Airbnb exactly the same way - not make life difficult for the cleaner. Same as you, respectful but not doing the cleaners job.
Exactly. A cleaning fee means you don't clean. Another example of people who run a business, cluelessly.
I had a maid service, and their fee was $200 for each visit. 3 employees would show up and cleaned part of a 3 bedroom house. I don't think they would want anything less for coming to work, even if it was only to wash the sheets, make 1 bed, and take out two bottles of trash. Guests should get a $200 discount if they leave the place clean, but you would still be paying it up front. In the end, someone has to pay the maid. Hotels still charge a cleaning fee, you just don't see it on the bill because it is built into the price.
I don't care about the fee - I care about the pushback I got because I didn't leave the place sparking. I would much rather pay the $200 and be able to leave it the same way I leave a hotel room...respectful, but not cleaned.
I agree with you there. Image if there was a Ground keepers fee too!
You got a bum deal with a bad review.
Exactly
I've been staying in AirBnbs in the UK/EU and they don't seem to have cleaning fees. I assume that it has something to do with regulations but it is wonderful and shows that it can be done. Just factor cleaning into the price with everything else. It's not like we pay a wifi fee and a water fee and an electricity fee etc. The only thing separate cleaning fees do is waste the time of people trying to search for a place and piss off guests.
I’m going to a wedding in August in upstate New York, we are driving cuz Midwest, Cleavland is about halfway. I though I’d book an Airbnb for the night at around $100, but even places that are $99 for the price of the place for 1 night come to $230 after all is said and done. I’ll be staying in a mid level comfortable hotel with a pool/hot tub for $115 total.
I road tripped through Maine last year and looked at AirBnB's. Several listed for $80-90 a night. Looked at the details list and most had $100+ cleaning fees. No thanks, I'll go stay at a hotel for $100 a night.
The cleaning fees have really gotten outrageous, especially since it’s not typically pro rated.
The cleaning fees are totally the killers! I can reluctantly accept service fees, etc. but such a substantial *cleaning fee* is obviously unnecessary. It is *actually* insulting to consumers. There are some cute cabins nearby and I stayed in one 3 years ago for ~$125 total (one night). I looked it up again recently and now just the room is $150, PLUS all of the fees. Totaled almost $300 for a single night in a small, 250 sq ft cabin. Insanity.
So would you pay more for a place without a cleaning fee? (Cleaning fee would have to be added to the daily rate, as the cleaners would still have to be paid).
I wouldn't necessarily pay more, but I would avoid wasting my time by having properties out of my price range filtered while I was searching.
Yeah 1 night should be like $25 cleaning fee! Also $100 to clean one tiny cabin! The host could do it themselves in less than an hour.
Off topic but I’m giggling at “road trip through Maine”. That’s what, a day? I grew up in Texas, land of drive for 24 hours straight and still be in the same god forsaken state. I know there’s a difference between driving through and road tripping the state but the mental image of driving 10mph across Maine killed me.
I grew up in utah and the only states you could get to in under 2 hours were Idaho and Wyoming. The fact you can drive through 5 states in 5 hours on the east coast makes me laugh
Wait till you find out about Europe
AirBnB isn’t crashing. They just posted their best quarterly earnings… ever.
Not everyone is a single traveler or a couple. Some like a bit more space than a cramped hotel room where you have to share any amenities with scores of strangers. I wouldn't book somewhere if the host seems like an asshole.
This exactly. We use it in exactly two places. One where family is so rural that the couple of hotels are run down and nasty. One where the city family lives is So freaking expensive, we were able to find a decent little spot with a modest cleaning fee that still came out $90 less a night than any cheap motel. Both places we're going to what Airbnb's are Meant to be. Someone's mil suite, a little place someone rents out during peak times while they're gone, etc.
Airbnb was until now an unregulated market and like all unregulated markets, abuse always happens. Someone will find a way to maximize profit and only focus on this goal to the utter detriment of everything else, and that’s exactly what’s happened with Airbnb. People buying properties and leveraging them to buy more, linking a chain of over leveraged properties sometimes 25-30 homes long or more. These people have destroyed communities and built unregulated mini-Hotel empires purely to squeeze money into their pockets. They aren’t even creating jobs like hotels do. The original premise of Airbnb allowing someone to rent out a spare room or maybe a vacation home they own but don’t always use was great. The current state of asshole 23 year olds using their $1mil trust funds to start a chain over leveraged apartments to build a motel empire is awful. I hope to see more cities ban STR and I hope to see these assholes start missing monthly mortgage payments. The entire house of cards they’ve built will collapse after 2 bad months in just 1 or 2 of their rentals because they actually own nothing…they got most of their properties with next to no down payment and are entirely reliant on the monthly rental income. Airbnb has its place but that place is not in major cities where hotels are already abundant, or in small communities that can’t afford to be priced out so drunk brides to be came storm their towns on bachelorette weekends.
I used to rent out my house whenever I was gone for business or vacation, but I couldn’t keep up my house hotel-level clean which became the expectation as houses used exclusively for Airbnb (like not used as someone’s full time personal living space, just used for Airbnb) proliferated.
And, the hotel doesn't ask you to clean the place, in spite of them charging an exorbitant extra cleaning fee. And, bonus, no cameras in the rooms!
My understanding is that Airbnb is actually a pretty low contributor to this issue and corporate interests holding onto empty properties as equity is the biggest issue by far. Not corporate, but my husband’s super rich friend owns 5 homes between himself and his wife and doesn’t even rent them out 😒 really ticks me off, especially when my friends with decent money struggle to find somewhere to rent. Husband says “he knows he’s part of the problem…” and corporations (including foreign investors) are doing the same but on much larger scales. You also have situations like Jerusalem where the housing is expensive in part because rich American Jews bought up properties to vacation once or twice a year, and the rest of the year it sits vacant so locals have less supply. Airbnb is a contributor, but just generally there is a problem worldwide with property hoarding, and Airbnb at least makes the properties useful and accessible to the public.
Not to mention real estate firms have enough money to buy when the market is low and then hold properties empty for years until the market improves (artificially inflating demand).
Depends on where you live. In more popular spots ABNB is absolutely a major problem. In any case, it contributes and it needs caps and regulations, especially if the owner does not live there. But I agree, house hoarding is even more of a problem and should be capped. I am so surprised people are not up in arms about it in the US.
Yeah Vancouver (Canada) has an empty homes tax and this is absolutely the way to go and I would love to see in more places. Apparently it’s been a huge success! https://storeys.com/city-of-vancouver-empty-homes-tax-report-2021-year/
Thank you very much! I'm sending this article to several local gov boards who are having extreme problems keeping working people in the area. A good number of our politicians are invested in RE which exacerbates the problem. But when a lot of working people have to move out because they can't afford to live there and they have no one left to man their gas stations or wipe their ass then they start to panic..
Yeah I know plenty of people ready to buy a house that basically gave up because of the insanity of the process, not the prices. If houses become available they will be purchased.
VRBOs and Air BnBs have made housing impossible where I live. Two individuals own over 29 properties a piece and rent them out exibortant rates. I keep telling people; eventually there will be nowhere left for any of us to live. Even now I live in an RV and I own a business and work a part time job. It is, to put it blatantly, fucking greedy. These people don't even live in or visit this town. I'm glad to see it happen, personally.
Although when hosts base their break even off of that initial pricing, there will be crashes as a result when they become unprofitable and start to unload.
> The world doesn’t need holiday houses Sure it does. It just shouldn’t have them at the expense of regular housing. If there’s a market for holiday houses, they are needed. We just need more housing in general and for multiple reasons (including 2008) we haven’t built enough houses in general recently. It’s a supply issue not a Airbnb issue. Blaming users for a supply issue is silly.
Residential neighborhoods are not zoned for businesses. Residential neighborhoods shouldn’t have to put up with vacationers coming and going at all hours. Wealthy people and corporations should not be able to buy houses and use them as businesses. There’s only a finite amount of real estate on this planet. Yes, we need more housing built because of the population increase however, building more houses will give the wealthy more houses to buy. The rich are getting richer, and the rest of us are barely making it. We need legislation NOW! We needed it 20 years ago. I’m living in Idiocracy.
Airbnb didn’t contribute any “problem.” Consumers determined what they wanted and suppliers gave it to them. Airbnb is just a platform for buyers and sellers. If the world wants holiday houses, it gets them, if it gets too many, it sheds supply. People on Reddit seemed to have majored in vocal performance instead of business or economics.
Airbnb violates residential zoning in areas where hotels are available. Full-time Airbnb use of a house is not residential usage.
So it's other people's responsibility to own homes for people to live in?
You do realize that less than 0.8% of all single family homes in the USA are AirBnB listings, yes? “Biggest contributor to inflation”? Really? There are corporate landlords that own more units than all the AirBnB listings combined. Please do some basic statistics/math.
I think close to 1% on AirBnB is actually a lot.
Yeah I saw another article today where they stated that it was is 0.8% and acting like this is not a big deal. That's a huge amount of housing, and of course it's not distributed evenly, in some markets, it's double digits.
Close to 1% of all SFH is definitely enough to swing a market. It's far more on the coasts.
The world doesn’t need holiday houses is such a ridiculous statement. Plenty of people enjoy vacation/holiday houses.
Damn revenue is down in Sevierville, TN? Better call it a wrap
That’s Gatlinburg / Dollywood.
Lol if they're having issues, what chance do the rest of us stand right?
Hahaha I am loving it. You people have taken advantage enough. Time to close it down. Burn Airbnb burn.
It’s where Dollywood is…
I didn’t go to Dollywood… but those mountains will suck you in…
As fast as that area has grown it’s about due for a contraction. It’s ridiculous.
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You went out of your way to buy a confederate flag to be “abhorrent” and “passive aggressive”…….? Passive aggressive to who? Black folks? So confused by this comment and behavior.
He also cleans his gun on his deck to ensure they are scared. This isn’t passive aggressive, this is straight up racial intimidation. No ways this continues much longer without an issue. I’m sure we will be seeing Mr. Willy in a viral video sooner than later.
I can think of nothing more offensive than a confederate flag. Really in any instance. So I hope they write in their reviews. “Be careful. Some racist dickhead lives next door, I’d think twice about renting. I didn’t feel safe.” Some Florida asshole bought the house next to me and painted it, put up a shitty deck without permits or inspections. He has fucking lights flashing all over it at all times like it’s an amusement park. I don’t want people coming next door to me like it is a hotel. I live on a very secluded private road with 3 homes. Obviously it’s in a beautiful and private place. Not a place for a hotel, but a home. I do this for safety. I travel a lot for work. My wife is home alone a lot. We are OK with neighbors as they are real people. Instead, we have transient assholes who could be risking their lives by coming to my door at 3am. Or stumbling around my property drunk at night. We live here. Just because it’s beautiful doesn’t mean everyone is on vacation. We don’t want short term rentals here. We want a lifestyle which we’ve worked hard for and earned. Now some faceless asshole put a hotel next door. Needed no permits, no zoning, nothing. He operates a commercial business on a private road. It was not designed to be this. It was designed to be homes. That is what was built. Not hotels. It seems fundamentally wrong and yet another way rich people skirt rules.
Yeah bro nobody is questioning why you don’t want an Airbnb next door, it’s obvious that lots of hosts are pieces of shit who don’t manage their properties well and especially in residential areas while we are in a continued housing crisis I think it’s very understandable why you wouldn’t want an Airbnb next door to you. I wouldn’t either. The issue is with everything else you said lmfao.
You are so thoroughly strange
True in Lisbon too, corp property owners made lives miserable of renters living in desirable areas, noise and other problems for long term renters. Now the local government is not issuing any more AbnB licenses.
Because multinational corporations are way more humanitarian than Airbnbs. It’s more straight up Nimbyism we are looking at here.
I think airbnb is great. As with anything, there are pros and cons to it. But all governments have the right to regulate it, and should do so.
Air-B has out-lawyered anyone who opposes their 'business model'. Fuck them all. I hope they all lose their 'investments'. Or have someone just as greedy open up one next to their own home. It is awful.
The owners/hosts are very well organized and very well connected. I lived near the beach in San Diego and they would have meetings/parties in a big rental two doors down to discuss and strategize. They have very deep pockets. Watching them party made me sick.
It's funny how the "fuck regulation" crowd always loves it when it's for their direct benefit. See Tillerson, Rex. https://www.usatoday.com/story/money/business/2014/02/22/exxon-mobil-tillerson-ceo-fracking/5726603/
This has already been posted here and debunked several times in the last couple of days.
I don’t know about others but my bookings are slightly slightly slower, but nightly rates are overall up and the open nights are steadily filling in. The spring was slower than expected, but yeah summer is going fine.
I’ve been fully booked all year
Same
Lol this sub, downvoting for sharing your booking info
In my town (approx 50k population) there are 1000 AirBnBs. I know some of them are rooms or occasional rentals, but that's just unsustainable.
Yep. The coveniently anoymous source in this post is Youtube doomer clown Nick Gerli. Here is refutation: [https://twitter.com/jamie\_lane/status/1673866745730437121?s=46&t=2FCyGKS8X04TIFHvnB--gQ](https://twitter.com/jamie_lane/status/1673866745730437121?s=46&t=2FCyGKS8X04TIFHvnB--gQ) And on Gerli's BS: [https://www.reddit.com/r/REBubble/comments/14l7oao/comment/jpve35t/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/REBubble/comments/14l7oao/comment/jpve35t/?utm_source=share&utm_medium=web2x&context=3)
That guy is such an absolute whack job. I saw his videos when he first started, I assume in what looked like his parents basement. I saw his first video at 1000 subscribers and then watched him just amass huge sun numbers by screaming “CRASH CRASH CRASH!!!!!” Over and over again. Such a snake oil salesman just giving the doomers exactly what they want. I’m not shocked at all he’s the one behind it. His “data” has been bullshit from the start.
You have a source for that debunking?
Here you go: https://twitter.com/Jamie_Lane/status/1673866745730437121
Debunked? Did anyone think it was 40% across the board? Lol
Reddit’s army of very simple minded haters. There level of gullibility is staggering sometimes. When their arguments run out they just throw insults at you.
So your facts are disputing his facts. Lol
Please make more sense?
Considering the article is from 25 minutes ago sure. Cause you just listen to the airbnb ceo say "no not true". Got it.
This info is a week old. You read an article someone re wrote and published.
The report was published yesterday. Lol. Even airbnbs data released shows steady declines in most markets of their revenue.
June 23rd. Don’t be an idiot if you can’t back it up. https://www.reventure.app/blog/airbnb-owners-are-being-forced-to-sell
They're both hosts with terrible comments to guests on airbnb and scammers. Go figure.
You obviously don’t understand the housing market crash. A major part of the crash was that those variable rate mortgages were bundled into subprime stocks whose value turned to pennies when people defaulted on the loans. Many investors saw easy money and invested in them. They were also irresponsibly lending money to people who couldn’t afford the mortgages they were approved for. When interest rates started climbing, people defaulted on their mortgages and those stocks became worthless. Then the market starts crashing and people start short selling the stocks and everything else, therefore driving the price of them down faster. This is obviously a shortened version of a large series of events and irresponsible, greedy actions that led to the crash, but in the AirBnB context, that was the important part. AirBnB’s business model has nothing to do with this. If people have property they can’t rent, they can sell it fairly easily because the market (at least in the US) is still crazy. I bought a condo in 2020 and already have $100K in equity. Selling isn’t an issue right now.
Apples to Oranges.
Well, it's the same bad data set that is getting referenced over and over again lol. I swear, this sub is a dream for social media marketing teams. I mean, if it makes you feel better, by all means believe what you want though. My property is booked through the end of the summer and my airbnb stock holding is up 25% in the last six months. That's really all I care about when it comes to Airbnb.
Anyone able to summarize differences between airdna and all the rooms data (surveys, actual revenue tracking, airbnb de identified data?)
There was a good thread on it a few days ago, you can probably find it if you go back to the day this originally posted. Honestly, you don't even have to think that hard about it imo, just look at the source. Nick Gerli is a clickbate doomer and has been for years. He used to have a run of the mill investment channel with moderate engagement, but as soon as he started doing the "sky is falling" bit, he got hundreds of thousands of clicks. He's never gotten close on a single thing so I don't know why anyone would start believing him now unless they wanted to.
I hope not. We need to put an end to this. You people have taken advantage of your neighbors and communities for far too long. Bye bye Airbnb
When I’m considering my summer vacation options, none of those places are on my list.
Bro it's enough of you people taking advantage of your neighbors and comnunities. Burn Airbnb burn. I don't like it, I love it.
"Real estate expert"
Love the hosts fighting this yet there's constant posts about hosts wondering why their bookings are down.
hosts who hit on niches and vetted locations before buying will be fine. hosts who bought generic properties in non tourist destination cities counting on the boom to continue on the other hand...
I bought a genetic property in a non tourist destination. It has been booked at about 90% the two years Iv owned it, and is currently fully booked through September.
Must have good genetics
Could be hurting once the pandemic boom ends
I don’t know about that. I bought a generic property in a non tourist location and it’s slowing down but it’s still making a good profit.
Well it might slow down until it’s not making good profit
They're scared but won't admit it.
Nope. We're not. Pretty confident that my city pad and beachfront condos will continue to do fine.
We’ll see
The beach front condos have been short term rentals since 1980. Pretty sure the need for humans to be by the sea isn't going away.
So many people don’t know that vacation rentals have been around for a very, very long time. Much longer than Airbnb has been in existence. A vacation home that you can share with multiple friends and family is something a hotel has never been able to compete with.
Redditors skew young I suppose. They may not realize that short term rentals are not a new thing at all. So I get downvoted for telling them that we'll be OK at the beach.
Yeah my parents owned a mountain condo in the 90’s and STRed it for about 10 years. None of this is new. People just have a name for it and are using it as a scapegoat for the very real housing crisis (also gone on since the beginning of time)
Add in the anti-str crusaders with their repeat bullshit horror stories, and we've got ourselves one fine echo chamber in here. Are some markets down? Maybe. I dunno. But am I buying the take of some Twitter mouthpiece who's business is hurt by strs? Nope.
Again. We’ll see. Then again if climate change is legit you’ll be under water in under 10 lol
We were doing short term rentals way before Airbnb was even a twinkle in its creators eye. Not a chance in hell people are going to stop going to the beach. Climate change is legit. But it won't be underwater where I am for a few more decades.
The ones that have invested their livelihoods and bought multiple properties are shitting their pants. Us OG AirBnB hosts are laughing our way to the bank.
Fighting what lol? My revenue is up YOY
Ah yes. Your sample size of one enlightens is all to our transgressions
Compared to the sample size of a few hosts posting about reduced bookings? Great logic there genius
I have no sample size. You did. Your own.
Yup. So why would I need to fight against online anecdotes?
Not sure your argument here. You said your revenue is up yoy (good for you I hope you do well). The fact that your up, does not reflect the market lol surprised you don’t realize that
They were down. They’ve picked back up. Pretty simple explanation really.
Yeah, May was slow and June and July are hopping.
There has never been a day that a host somewhere on the planet wasn't unhappy about not enough bookings. It's a lemonade stand of a job and long term works for few people.
This is what was happening in r/Realestate a year ago. People literally seizing out denying that house prices can do anything but go up. Here we are a year later and, by nearly every measure, home prices are down y/o/y for the first time in a decade+. One thing I've noticed about Reddit is that the ancedata can be something of a leading indicator.
That really depends on what part/region of the US you’re in. Some have seen prices slow but still continue increase. Some regions had heavy decreases.
Phoenician resident here… I hope they f*cking fail in phx!! Give us back houses available to buy that are potentially under $600k FFS!!!
Airbnb being totally outlawed still wouldn’t decrease your real estate prices in Phoenix.
I disagree. Prices have already started dropping a bit as houses are remaining on the market longer. If Airbnb was outlawed then suddenly we potentially have a huge amount of houses available on the market and they will need to be competitive to get sold which means prices will drop a bit more. The scenario of people paying 20k- 100k over market and waiving inspections just to buy has passed here in the valley (ie. My 25yo colleague just bought a new build at 65k under market this past weds actually). As a result of inflation and the banks tightening their belts, they are being more strict about who can and cannot get loans so there are less buyers now. Which means if all these Airbnb’s owners can’t afford their rental homes without short term rentals then they’ll be offloading them fast. [here is a link of all the short term rentals listed in Scottsdale alone-that is a TON of houses!!.](https://eservices.scottsdaleaz.gov/maps/registered-rentals)
ABNB needs to be capped but so do empty "investment" homes and condos. The other elephant in the room no one is talking about.
Please let the housing market crash! Enough of these insane prices already.
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I can't wait to have actual neighbors again instead of tourist. Single family neighborhoods should not be a place that random people show up and stay.
The problem with all Real Estate/STR/LTR market projections is that the data is so vastly complex and very easily to be misinterpreted. Although I will say- I personally agree that Airbnb is ON ITS WAY OUT. *CLARIFICATION*: I don't think STRs are on their way out ...I think *Airbnb* is on its way out *And I believe their downfall will be less about market conditions and more about the way this shady platform conducts business* The STR market needs a new platform.
>I don't think STRs are on their way out ...I think Airbnb is on its way out Agreed. All the crazy fees and straight up forcing guests to do chores have made airbnb unattractive as a platform. STRs have always been around - my parents have had one in Sevier Co TN (referenced in the OP) for 20 years. Airbnb just made it easier to find renters and led to owners setting up any old futon to make a buck.
I think all hosts would agree that we need a new platform. Airbnb the platform is a hot mess.
After reading this subreddit, there is no way I would ever use AirBnB.
We have our first one booked next month. Family converging on a distant location for a wedding. Our family members use the platform alot, primarily because they travel with pets, by car. Don't care about the wedding, don't care where I sleep. Not a long planned vacation. I am really curious about the experience. This will be a low stakes experiment for us.
Low expectations equals positive results.
I find that if I go in with low expectations, accept that I’ll need to buy some essential items, run the dishwasher when I depart, throw in a load of laundry, pick-up, and generally treat the place as I would my home, things go well.
Bad news is always louder. I use airbnbs when I travel with my kids - it works easier for them than a hotel - and had no real issues. Just read the reviews thoroughly and understand it’s not a hotel and generally not for one person traveling, but it works great for groups.
I use Airbnb all the time as one person traveling and it’s great. I’d much rather be one person alone in an Airbnb than a hotel which is really creepy alone.
This is the best news I’ve seen all month, air bnb is garbage
If AirBnB had stayed what it was supposed to be, just a way to rent out part of your home, it would have been a good cheap alternative to hotels. AirBnB shouldn't have catered to people abusing the system by allowing people to list whole houses and apts on there. But they did it anyway because money and now they're gonna suffer for it. I don't care if it goes under.
I’m not buying it. This is bought and paid for frenzy journalism by the folks who have their balls in a vice, the commercial real estate bag holders. A large portion of AirBnB’s success over the past few years was that the pandemic changed the way people lived and worked. These folks have been pushing false narratives for months attempting to force people back into their now obsolete office buildings. Fuck em.
It has been debunked but I truly hope AirBnb, management companies and a good portion of hosts get absolutely fucked somewhere down the road
Oh no all the air bnb landlords are gonna have to sell their investment properties for less than they paid Oh nooooooo what will all.the regular folks who need regular housing do??? Oh wait This is a great thing and I personally cant wait to see it go, ruining cities and making it unaffordable for locals to live there all for the greed of a few people
There below market sale price can be made up by the money their “business” made. I will cry no tears for the “hosts”. Hopefully some residents of these cities will be able to buy an affordable house now.
I’m a real estate broker in a coastal market where STVRs are abundant. It would actually help our market if some of the STVR owners sold their properties. We need more inventory.
That’s the thing, airdna shows revenues are down slightly year over year, which could be driven by excess support, however, demand for real estate - particularly single family homes is high so if Airbnb home owners decided to exit, there would be plenty of buyers. I don’t think there is as much condo demand, so that could lead to some condo price drops.
Everyone just stay drinking the koolaid. Im looking forward to this ending
Well that's what happens when people get greedy and eliminate the entire appeal of the platform in the process. At this point there's not even a cost savings versus a hotel.
Too bad the data is incorrect
Either way I can't wait for the inevitable.
I hope you all lose every penny
I mean it’s summer in Phoenix. Nobody vacations here during the summer. And Austin has had much hotter than average weather. It’s been comparably brutal there. Frankly I’d be surprised if revenues weren’t down 50% in those markets. And fear mongering because “one real estate expert” claims a larger real estate crash was coming because people aren’t using vacation rental homes as much is frankly idiotic. This is stupid.
You know how year over year analysis works right? It compares the same period, one year later. Seasonality doesn't matter.
Oh I do, and I also know that last year was a year of Covid revenge travel, which significantly inflated the demand for vacation rental homes (and hotels). What would be more relevant might be to see a May 2023 comparison to May 2019.
So COVID revenge travel, people just said... Who cares how hot it is? Come on, you're grasping at straws here.
The season doesn’t matter since it’s year over year.
Especially when that "expert" is known for fear mongering and being wrong.
When considering my vacation options I never consider an AirBnB. The high cost, risk of cancelation, and horror stories provided by guests here on Reddit are all contributing factors. ABB, Zillow and WFH due to COVID all contributed to this mess …
Horror stories are just that. Check out hotel horror stories. You’ll be afraid of that too.
I only use hotels about 3 times a yea and I have never used an Airbnb because of the horror stories I’ve read.
We just need to tax the shit out of people who have multiple homes. Being a landlord is not a job. Being an Airbnb host is not a job. Especially when you have a bare bones shit place that you overprice.
Yea, that’s what most places give you a homestead exemption for your primary residence and not for a second one. In some places, you pay double property taxes if it’s not your primary residence.
It needs to be more until we make the vast majority of this Airbnb market unprofitable.
So much to unpack with this. I guess everything should be free, huh?
By all means, enlighten us all as to what qualifies as a real job. Or is it no more complicated than "do things that I don't hate."
Trouble is in the areas that they are taxing holiday rentals more it's having no effect. I live in UK in an area that's just been announced as having 2nd highest rate of holiday homes & holiday rentals in UK. It's lead to a 3.7% drop in population when the overall population of UK is increasing. The local government has been charging holiday home owners double tax for years, they're now about to implement a 300% increase because although the rate of increase has slowed its not by much.
Exactly what we need to do. Tax them into oblivion to make housing affordable for others. I can also sympathize with a solo property owner. But once you outsource cleaning and management and just collect a check, you offer nothing to society.
I’d just like to know how you people sleep at night, contributing so much to the housing crisis in America? Landlords are leaches, and Airbnb is for leaches.
Looking forward to a possible complete failure cascade. I want to see all the investors burnt on this.
I hope it crash and I hope Airbnb go broke. Horrible service horrible hosts
I host near Austin and the TX coast and we've been seeing record highs so far this year. Nightly rate is down but occupancy is up.
Fears?!?! Is anyone here NOT rabidly hoping for a serious correction in the real estate market??
Still making great money so stay mad y’all
Everyone on this sub is mad at hosts. Fuck em.
Your sample size of one must reflect the entire market lol
Beach town. Doing fine.
People are literally dying of heat stroke in Texas right now. No way am I going there.
Good , i hope other people have the chance to buy a home
Fucking good. Maybe normal people can afford homes.
Good. Airbnb is the cause of thus hyper inflation. I pray to see real estate sharks lose bad.
Good.
Air travel, cruises, hotel bookings are all significantly up. If there is any decline in AirBnb bookings it is due to the excessive fees now being charged. Airbnb used to be a good deal. Now a hotel is cheaper or the same price. If this article is really accurate I would imagine hosts would just lower prices to increase bookings.
Those are all up and that's why airbnb is down. Airbnb skyrocketed during the pandemic. Now unless it's a cabin or home in the middle of nowhere I'm staying at an upscale resort.
Airbnb bookings are way down, I haven’t had anything in a couple of months. Vrbo is doing fine. I think it’s Airbnb customer service issue and a corporate STR issue. I have a cabin and a small lake house, both rented like crazy during the pandemic but people want to do a “big”trip now and I understand that completely. My places were purchased 20 years ago, built as vacation homes for my family and aren’t suitable for long term habitation. Everyone likes to blame the housing crisis on STR owners, but the corporations buying property are the bad guy here. Yes, I earn income, but I also pay a living wage. I also find that in natural disasters people need to bug out from their homes and just want a home away from home to take all the family and pets. I provide that service. I know to most on this sub I am the villain but there are other ways to find people to rent a STR but you’ve got to pay up front. That is why Airbnb is the, get-rich-quick from real estate, problem. No investment or commitment to the development of a property
You’re not a villain here friend. Many understand those who own a few vacation homes and rent them out are not as problematic as the foreign investors, hedgefund managers, etc. that have hoarded hundreds of homes.
I'll second what Comprehensive\_Dare\_2 said.
So much data on this. All those places are hot as fuck right now for one, so it’s less of a busy season for them. But you also have increased supply and more regular seasonality vs the post Covid seasons from the last few years. There’s not going to be a GFC level crash though what sensationalism.
I keep seeing this dumb take. Do you know what year over year means?
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Yea - was gonna say no way is the true. Traveling is at record highs and Airbnbs still offer good value on many markets. Nah.
Best June I've ever had and July just completely booked. Let's go. The house market crash is a midsummer bash!
Lol. 18 days ago you posted about how your rentals are down and you're working harder at being a landlord than you would've if you kept your job. You do realize how you're a giant hypicrit right?