Airbnb. I used to think they were a perfect business. Saw a gap in the market, created a decent product, invested in their users (back in the day they would even send a photographer to take good photos of your property).
Unfortunately the consequences turned out to be awful.
Yeah, I’m pretty torn. In my small community (on an island), housing and rent are insanely expensive, and also pretty scarce. There are people who have full time jobs living in tents in the woods or in their cars (in Alaska) not because they can’t afford a place to stay, but because there are no places to rent.
It’s also a major tourist spot, and the population more than doubles regularly on days during the summer, and for those that fly in, the hotels book up quick. So there’s a huge AirBnB market. Which means houses are getting bought up and then set up as AirBnBs instead of renting to residents, so housing becomes even more scarce. So I hate AirBnB.
But… I just bought a 4 bedroom house, where one of the beds is in a built in 1-bedroom apartment, with its own kitchen and everything. We wanted a 4bedroom house so we could have a guest room for people visiting, as well as just have extra space for us. Well, once I retire, one of our plans is to rent that out as an AirBnB during the times we don’t have guests staying. It doesn’t deplete housing in the area (we wouldn’t be renting it out anyway), and it helps pay our ridiculous mortgage.
So I hate it… but if it’s used properly/ethically, I feel like it could be pretty good.
This is actually I think how Airbnb was originally supposed to work… You rent out a room or an in law suite that you aren’t otherwise using. Or maybe your condo in a resort town when you’re not there. Unfortunately became so lucrative that you can make more money doing that than renting. I stayed in one in a ski town recently that was clearly at least two separate apartments before and had all been combined to house large groups. Felt kinda crappy about that, and it goes to show how it eats up the housing stock
AirBNB would work better if the owner was required to live in the property 160 days out of the year. Where it went wrong was in letting corporations buy up housing and use it to skirt hotel taxes and regulation.
Airbnb. I used to think they were a perfect business. Saw a gap in the market, created a decent product, invested in their users (back in the day they would even send a photographer to take good photos of your property).
Unfortunately the consequences turned out to be awful.
Yeah, I’m pretty torn. In my small community (on an island), housing and rent are insanely expensive, and also pretty scarce. There are people who have full time jobs living in tents in the woods or in their cars (in Alaska) not because they can’t afford a place to stay, but because there are no places to rent.
It’s also a major tourist spot, and the population more than doubles regularly on days during the summer, and for those that fly in, the hotels book up quick. So there’s a huge AirBnB market. Which means houses are getting bought up and then set up as AirBnBs instead of renting to residents, so housing becomes even more scarce. So I hate AirBnB.
But… I just bought a 4 bedroom house, where one of the beds is in a built in 1-bedroom apartment, with its own kitchen and everything. We wanted a 4bedroom house so we could have a guest room for people visiting, as well as just have extra space for us. Well, once I retire, one of our plans is to rent that out as an AirBnB during the times we don’t have guests staying. It doesn’t deplete housing in the area (we wouldn’t be renting it out anyway), and it helps pay our ridiculous mortgage.
So I hate it… but if it’s used properly/ethically, I feel like it could be pretty good.
This is actually I think how Airbnb was originally supposed to work… You rent out a room or an in law suite that you aren’t otherwise using. Or maybe your condo in a resort town when you’re not there. Unfortunately became so lucrative that you can make more money doing that than renting. I stayed in one in a ski town recently that was clearly at least two separate apartments before and had all been combined to house large groups. Felt kinda crappy about that, and it goes to show how it eats up the housing stock
AirBNB would work better if the owner was required to live in the property 160 days out of the year. Where it went wrong was in letting corporations buy up housing and use it to skirt hotel taxes and regulation.
AirBnB is almost directly responsible for the surge of housing prices in my local town, and they should die in a fire.
🌈.°`E N S H I T I F I C A T I O N’°. 🌈