The Airbnb Meltdown Collapse Of Short Term Rentals
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- Опубліковано 28 вер 2024
- Learn about the Airbnb meltdown and the collapse of short-term rentals in this eye-opening video. Discover what led to this crisis and how it's impacting the vacation rental market. In this eye-opening video, we dive deep into the dramatic collapse of short-term rentals and the major meltdown affecting platforms like Airbnb and VRBO. From skyrocketing regulations and shifting market trends to the impact of economic downturns, discover what led to the downward spiral in the short-term rental industry.
In this video, you’ll learn:
- The key factors contributing to the collapse of short-term rentals
- How new regulations are reshaping the landscape of Airbnb and similar platforms
- The economic and social impacts on hosts and travelers
- Expert insights and predictions for the future of short-term rentals
Whether you're a host, traveler, real estate investor, or simply curious about the evolving rental market, this comprehensive analysis will provide the information you need to understand the current crisis and its implications.
Share your thoughts and experiences in the comments below. Have you been affected by the short-term rental collapse? What are your predictions for the future of Airbnb?
If you found this video informative, don’t forget to like, subscribe, and hit the bell icon for more updates on the latest trends and industry insights!
#Airbnb #ShortTermRentals #RentalMarketCollapse #AirbnbMeltdown #TravelTrends #EconomicImpact #RealEstateNews #VacationRentals
Brought to you by:
Jerry Pinkas Real Estate Experts
604 N 27th Ave
Myrtle Beach, SC 29577
843-839-9870
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Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research or provide legal, investment, or financial advice. For legal advice, consult a lawyer.
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For the last several years we’ve stopped using vrbo and air b&b because the hotels are a better deal. Most of the new hotels have kitchenettes, everything works, and you don’t have a task list of things to do before you leave.
Hotels are noisy, gross and usually just as expensive. Excellent place to pickup germs.
@@micker9830 I can tell you have Airbnb listings. Hate to break it to you but thanks to the Airbnb service charge hotels will always have a pricing advantage and they have been much cheaper for at least the last two years.
Not to mention the matresses you can actually sleep on.
@@micker9830 Not the ones we stay in.
Everybody got greedy and the benefits disappeared!
Need Kleenex for the tears I have
Greedy indeed, while trashing their neighborhoods. Thank you for making me live in a neighborhood that caters to overnight guest looking for a good time.
@@KartzchenI own a camper. We regularly visit Southaven Michigan. This year I was horrified to see how many homes had vacationers sitting on the front porch and lawn drinking in the middle of the day on a weekday. Currently, these cities r passing legislation to combat this. Clearly, these rentals r owned by heirs that have hardly worked in their life, trashing neighborhoods they don’t care about.
Lake Michigan properties a block or two away from the water are fetching a million dollars cuz of Airbnb 😂😂😂. It’s all gunna crash, and I can’t wait.
I have never rented an Airbnb, never will. If I can’t camp it, or boat it, I will stay home.
@@Kartzchen True, it isn't only the prices and the evictions, there's also the degradation when too many tourists (especially party tourists) congregate in one place!
Right, because the world is a fight between greed and altruism, and not about free market forces.
I used to love Airbnb 15 yrs ago when it was a niche alternate idea. Now that it became a Wall Street conglomerate it entered a doom loop. It is a victim of its own success. Eventually it will collapse or revert back to a small niche idea only a few people use.
You forgot draconian rules. "don't touch the thermostat!" "don't use the washer/dryer!" "you must clean AND pay a cleaning fee" "you know with the b.s. fees, a hotel is cheaper and fewer rules"
Unless you have a large family group, it's less hassle and less expensive to go to a hotel.
Guests created that monster, unfortunately. Airbnb guest clientele can be the worst at times. Hence the handholding with house rules.
Yep that is my experience plus add host living in basement while doing massages for money not creepy at all thanks for not informing us and letting us find out and then you offered our wives and girlfriends massages while on our skiing weekend. Short term rental apps have a stink on them.
@@GeneDexter Piss off!
Yeah I was asked to take the sheets off the bed and put all towels etc in a bag by the door and I’m like, yeah that’s 30 seconds work, but I’m also paying someone to do this and last time I checked I’m on holiday so…..no.
yeah i want to pay $50/day for parking plus $80/day for resort fees and $15 dollars for a bottle of water!! hahahaha oh sure gimmie hotel!
Used to be cheaper before all the fees. Hotels are cheaper without the hassle.
They really aren't though, why lie?
Imagine the balls it takes to demand cleaning up while getting charged an additional cleaning fee. “This property is $120 a night, and cleaning fees are $219.”
When airbnb got more expensive than hotels . I stopped using it. Back to hotels
Do you often stay at hotels that give you 3+ rooms and bathrooms, with fully stocked kitchens and laundry in suite?
What if your stay is a month long?
Feel stupid yet?
@@user-iu1ru1qz7uMany hotels have multi room suites with fully stocked kitchens for longer stays. They are way cheaper than Airbnb’s and I only have to wash the dishes and washes my own clothes in the nearby laundry room.
I also get reward points for free nights and I’m literally right next door to bars and restaurants at a hotel.
Accountability is an assumption when you stay at a hotel. It is not something you can expect with AirBnb owners or management companies. The last thing I want to deal with on a vacation are unsolvable problems at my rental location. I had multiple nightmare situations with vacation rentals over the years. Never again.
Happiest day of my life. I hate Airbnb
Idk there's a bunch in my neighborhood near the beach and all are rented nonstop. I see no slowdown
@@thomasjgour4678 because you see no slowdown in your neighborhood it means Airbnb's earnings report is wrong. makes sense to me.
@@thomasjgour4678 there's still demand but less than there was before.
We had one in Cathedral City CA, two doors down from our rental house in a residential community. The kids they rented to never paid attention to noise regulations. Constantly we called the cops. Ultimately Cathedral City banned short term rentals. By vote. I don't think the owners of the property were from the US. Many Air bnb suck. Glad to see them closing up shop.
@@dangerjones6
Here's the reality, the facts are people commoditized it. They bought any property, had no real niche/value prop/strategy and just listed it to receive leads. When you own a business you need to know how to market, lead generate brand and strategize to position your business for success. It is.was a race to the bottom for most owners who just listed their properties on Airbnb.
Between HOA’s and local government you don’t own your property, you’re just a renter.
You never totally owned your property. It's been how many decades - or centuries - since you could turn your place into a toxic waste dump, auto salvage yard, dirt bike racetrack or many, many other things due to zoning laws and regs. Turn a single family home into a short stay hotel/motel and see if they don't fine you for running a business in a residentially zoned area.
I’ve used Airbnb and VRBO about four times. And each and every time it has been an extreme disappointment. The properties were always misrepresented and in poor shape. Since Airbnb doesn’t control the quality they have no idea what’s going on out there. I know that’s part of the plan and the shared economy stuff but it just makes it a crapshoot. It’s better to spend 300 400 or $500 a night to stay at a trusty Marriott or Hilton and know that it’s clean and safe.
Airbnb management fee's were a big killer for us and our customers. 2nd thing, after hosting for 7 years we found that the guests were becoming more abusive of our rental and when we tried to charge them $40 for 2 hours extra work of cleaning dog barf and coffee stains, Airbnb would not stand behind us and charge the guest for our time. This was the big game changer for us. We ran into steel pins in our carpet, coffee creamer stains in the carpet, door left open while furnace or AC was running, trying to cook over a propane fire pit left a huge mess, running the fire pit for 10 hours, cleaning out the soap and food amenities is just a partial list. Wife did the management but got to a point where wife and I were making less than $10 per hour and we did our own cleaning. ON a good month we would make $500. for 60 hours of work.... Lot of sales hype from airbnb but no $$ in our pockets so we quit.... won't do that again.
😂😂 Hope you lost your a$$ on your rental. Screwing over long term tenants... you deserve it.
People don’t treat the rental with care. Most people are not nice. We had a house in Florida for short term rental before Airbnb and we got out. Sold the property. Renters left tennis racket at bottom of pool and it rusted and left a rust outline of the racket. 😞😭
Not a fan anyway. Don’t want to be illegally recorded by owners and it took so many adorable places off the long term rental market. Plus, people charge ridiculous prices.
Just because there were a couple camera incidents doesn’t mean ‘everyone’ is doing it. Eyeroll. Paranoid much? Been in a lot of BnBs lately and all were great experiences.
@@Phlakaton88 Good for you
@@Phlakaton88Just two? Where is your data from?
Govt already spy on you everyday via social media and your phone, so a few cameras at a AirBNB isn’t as bad as people think. Just block what you think are cameras and enjoy your day, or intentionally accidentally smash cameras and threaten to sue AirBNB owner if they try to make you pay for their destroyed items.
@@Phlakaton88me too, just did AB in London & Paris...amazing places!
GREED kills everything. That's it in a nutshell.
Think about this. Government is far greedier than a corporation. They have a list for power behind their policies.
Young people complain about how impossible it is to buy a house. I don't blame them. They are also among the bigger users of AirBNB's. AirBNB is one of the reasons why housing is so expensive. If you cannot afford a house, stop using AirBNB, not that I think hotels are that great.
I used to rent regularly from Airbnb, but prices have shot up too much. The exact same property that I used to be able to rent out for $200 a night is now asking $400. No new amenities or extras, exact same property. In fact, it is now more beaten down than before.
Besides the crummy economy, AirBNB guests throwing wild parties in residential neighborhoods caused local governments to enact laws to prohibit them. Greedy listers not vetting their renters are partly responsible for this
its greed
@@BlackJesus8463 yes and this includes not caring about the impact on the neighborhood and neighbors with ca be traced back to greed. The house next to me was an airbnb for three years owner never said one word to us, then I started seeing all these cars parked in front of the house, people carrying luggage and ice chests in ... well to cut to the chase, I bought a wood chipper and set it up adjacent to the fence. You want to hang out on my neighbors deck and talk in loud party voice you get the wood chipper fired up. Or a boombox with opera etc... sometimes a rock station just not quite tuned in or how about a Bernie Sanders stump speech denouncing the "Billionaires." The pandemic killed the short term rental boom as people were scared stiff of visiting our tourist town. Owner ended up selling - thank God!
That's a stereotype totally not my experience at all. I have 2 apts on Airbnb for 4 years. I never had any loud parties ever. I have had families that go to the beach and sit on the deck and drink a beer or glass of wine. My long term homeowner neighbors have had huge loud parties. Airbnb doesn't allow parties anymore so if the guests are having one you can tell them to leave and cancel the booking. Try that with a long term tenant. You would have to go through eviction process and spend money on a lawyer and court fees etc. Then the tenant will trash your rental in retaliation. Airbnb is actually better for the neighborhood because the guests are not tenants and can be instantly removed for causing trouble and noise.
@@houpteeNo rentals of any kind is best for the neighbors.
@@alisonb9963 so you think that everyone should be a homeowner and nobody should be allowed to rent a place to live or stay? The founding fathers of the country were all rich landowners that rented farm land and houses to the share croppers.
Glad they’re going. Terrible for the neighbors and neighborhoods where they’re located.
The problem with Airbnb now is that they overcharged a lot of the service fee, which it turned out to be ridiculous. I can give you a perfect example Cleaning feed they charge almost $100. And they make you clean up the whole house before you turn it in if not, they charge you another fee. So that is a reason why people are getting away from. Airbnb.
cleaning fee is valid but making you clean is dumb unless you ruined their property. $100 at $16 an hour for the cleaner is not a lot.. that's actually on the cheaper side.
You’re on vacation. The last thing you want to do before leaving is clean a house.
$100 is nothing. I was quoted a $400 cleaning fee in Savannah GA for a two night stay. Um no thank you airbnb
I’ve rented a dozen times of airbnb and was asked once to take my trash out and once to start my sheets…
Why would I trust a vacationing family to do a good job cleaning? I've never failed, domestically or abroad to be disappointed in vacation rentals.
I rented a second prooerty through airbnb back in 2018. It was more headache than it was worth. I had good ratings and I was chill. It only took one person to ruin a good thing and I sold that house last year.
Good bye!
Airbnb prices pushed most customers out , I vacation at home now because of it , do I feel sorry for them ? No , good luck paying the taxes losers,
Airbnb platform is greedy ❗️
You get the award for cutting through the BS the fastest.
AirBNBust deserves its business failure!
I used an Airbnb last year. It was dirty and I ended getting sick during my stay. Never again.
Before air bnb existed there were bed and breakfasts. They were nice and we need them to come back.
I am not surprised, as I have heard some real horrible stories about Air B&B, to the point I won't use it.
Airbnb should be illegal in most cases. They are hotels in areas zoned residential.
Here in USA, a Patel Motel/Hotel is the best deal. Family run. Low prices, free breakfast, free parking, free WiFi, clean rooms, etc. Many have kitchenettes. Cost around $100-175/day. Europe has family run bed and breakfast… also good prices.
Curry smell is free!
@@TheyCallMeSir_H Currently, the Patel motel/ hotels are very clean. Not like the old days when they were dumps.
@@AjitMD Depends on where one is at here in the U.S.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
If you are in the USA, I hope you are going to vote blue, as red will rob you more - vote blue 💙
@@philstanton231no matter who
Everyone I know that is retiring or close to it, is loaded. Most GenX/boomers are doing amazing right now. Anyone who owned property and wasn't in debt before Covid, is loaded now.
I own a townhouse in a popular tourist town in Utah and I decided to just long-term rent it. The management fees have sword, so has the competition and I just don’t want to hassle of constant maintenance. Other Airbnb people tell me they have a lot of damage to deal with, so for me, it’s just not worth it. I put in a long-term tenant and it’s predictable steady income with very little maintenance or hassle. I found an older retired affluent couple to take it, for me it was a no-brainer.
Welp. Glad I was able to use them while it lasted. We have used airbnb in 16 countries and counting. Out of the 35+ airbnb we have use we had 2 duds. Those duds were early on.
Airbnb has negatively impacted communities. Hate that there’s a STR on our residential street. Those vacationers don’t care. Hopefully, the drop in demand for investment properties means some people looking to purchase a home for themselves have a chance to get into the neighborhood.
Great report Jerry ❤I stayed at an Air BNB once and NEVER again
Airbnbs should shout down. That reduces business. Hotels for it- let it go to secure professionals. Unless you rent your own home for your time of vocations.
STOP this BS
Short term rentals supposed to carry commercial STR insurance, different from regular homeowners insurance. 2nd, many STR are not comparable with hotels. You cannot compare a hotel room to a 4 bedroom house that accommodates a large family. 3rd, if owners of short term rental do not rent it short term, it is not likely that they will rent it long term for much cheaper because of possible squatters/ non paying renters, and much cheaper long term rates. They will rather have them sit empty. Many other points are valid.
We stopped using Air B&B after they absorbed MR B&B. Nothing but hotels or outrageous pricing. We deal directly with hotels now....
We rented two Airbn places on recent trip to Ireland this summer and it worked out great. Room for five adults and place to cook and space to hang out after seeing the sites.
BS, Airbnbs makes up barely a percentage and a half of the homes owned in the US market. There are about 144 million homes in the US, 125 million of those being owner occupied. There is a little over 2 million listings on Airbnb in the US which is about 1.38% of homes. Airbnbs are not the cause for US housing shortages, these big corporations, such as Invitation Homes, Progress Residential, First Key Homes, Amherst Group to name a few backed by private equity groups like Blackstone and Pretium Partners that go around buying up entire neighborhoods of single family homes and only putting them up for (un affordable) rent prices is the issue here. 117,000 single family homes In Florida alone, in California another owns about 80,000 single family homes. An over saturated market combined with corporate greed aka inflation and high interest rates are whats affecting the occupancy rates on Airbnb. Not necessarily the cost of doing business, if you had your profit margins in line to begin with.
I think one may find that the percentage is much higher in high-tourism locations. I wonder what that percentage may be in say, the nicer parts of San Francisco.
Glad to see these super greedy people lose theirs shirts
Thank you Jwrry. Love your videos. And as a renter...Air BB just became too expensive and unreliable. Good idea in the beginning.....
So glad I got out of my airbnb properties. 1031ed both into long term rentals. I fired myself from my 2nd and 3rd jobs for passive income. Never going back.
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One of the issues in vacation home market is that brokers are not willing to broker shorter term rentals due to the amount of work involved and the comparatively modest fees. AibBNB tries to address that issue. Brokers should work on tech enabled alternatives.
When AirBnb became a public company it went downhill. Many extra fees.
I love Airb&b. We have 3 babies and it makes traveling so much easier. I don’t have to check in, plenty of space for everyone to spread out. We can cook our own meals with food we brought. Yeah it might be a little more than a hotel but I know that ahead of time and I’m still ok with it. If it’s too much I don’t stay there.
The hidden cameras are also nice
@@HonorableBeniah-Ahey robatron they put cameras in hotels too, way before, so shut tfup
Good to see you back again
Here's the reality, the facts are people commoditized it. They bought any property, had no real niche/value prop/strategy and just listed it to receive leads. When you own a business you need to know how to market, lead generate brand and strategize to position your business for success. It is.was a race to the bottom for most owners who just listed their properties on Airbnb.
Another informative video Jerry, thank you for more great content. Raging inflation to me is the key component that is dragging these companies down. Certainly also community governments and HOA’s are now aggressively moving to protect property owners. I am more likely to shop for a hotel now than an Airbnb/VRBO. Once again inflation is withdrawing MILLIONS of potential travelers from the market. This includes airlines and car rentals.
Why stay in separate hotel rooms when I want to hang out with my family in a nice luxurious house?
What % of the market of 'short term rentals' does Airbnb hold? From my perspective, I see nothing but upsides to it imploding, because it seems like a monopoly. Is this true, or does it have any serious competition?
some people don't leave and you have to evict them. Thats a lot of fun.
I understand AirBNB’s overall revenue may be down, but I’m not sure if any particular AirBNB owner will be affected, assuming they’re not in a location making it illegal.
I use Airbnb's for Mexico Holidays. Entire homes for weekly rental price $180-$410 including all fees is remarkable. I don't do the $8-$12 single room nightly stays but in my youth and limited fund day's I probably would have. In October 2023 I spent 7 day's in Comitan Chiapas Mexico, 3 bedroom, 2 1/2 bath, and most beautiful 12 acre garden for $214 including all fees. Yes, there was no central heat or air but just a fan was all I needed to be comfortable. My host visited the property at least once a day but never came onto the property that I knew of. He just waited at the gate until he saw me, hollered " any problema " , waited for my response of no, waved and moved on. Absolutely, 100% I've booked 13 nights in October again this year, same place, same rate ($398). This time I'm going to try and negotiate next October whole month rental for $500 off platform.
the gamble is will you get home alive...
@@davidames1746 I'm leaving this information not really for you but for anyone traveling to Chiapas. There is danger and crime everywhere in the World and of course some places visitors are a larger target. The absolute best advice I can give ( other Mexican States too ) about travel to Chiapas is never ever never travel at night. From the airport in Tuxtla you can get a cab or bus to San Cristobal up until 9pm but it's not advised after dark. You will go through at least one military checkpoint but usually it's 2 or 3. You can't get a bus or a cab to anywhere else but San Cristobal because it's a rule you and your driver are fair game to be robbed. Usually it's just extortion but if you don't have 3 to $500 USD they will steal all your pocessions. And just because you've been held up once won't stop another group from robbing you too. So everyone just doesn't travel on highways at night in the entire State....locals included. You won't be robbed at a hotel or Airbnb, at least by Cartels or professional criminals who answer to Cartels. The Cartels depend on tourism as they own the Resorts, Hotels, Airbnb's, Restaurants, Pharmacies, and shopping locations from convenience stores to high end shops. They make sure ( through violence) during daylight hours it's safe and secure to travel on roads. The only difference is Zapatista roadblocks during the day in the more mountainous area's. It's usually just 2-$5 US per person unless they've been able to block the road completely and there has been a long delay already. Passage then could be $25-$75 USD or higher if it's somewhat close to sundown. The night time abandonment of roads by law enforcement & military is just a way to keep those entities safe, a way for Cartels to move contraband and themselves , and most importantly to them patrol their perceived territory unmolested. Besides maybe a half dozen Indigenous roadblocks I've never had a problem traveling throughout Chiapas and certainly never a problem at any accomodation. Unfortunately, over the last few year's Guatemala based Cartels have taken over entire cities and towns south of Cometain and driven the locals out to embarrass the local Cartel members and rob and loot their homes and businesses. Of course these attacks are met with violence and it's usually the Military that steps in first securing other close villages then driving the Guatemalans out. I choose to stay in either San Cristobal or Cometain because they are much much to big to be overrun plus there's really just one way in and one way out. Both those Cities are safe. Tuxtla is also safe but it costs a lot to stay there and the natural beauty is nothing like the two other area's.
Airbnb doesn't own a single property. I think it's hilarious how to keep raising prices like who the fuck are they?
Thank goodness Jerry!!!
Now maybe young couples, young families, young people, can afford to buy a home to live and raise a family!!!
007
a lot of places in florida now you can't rent less than 30 days.
Doesn't benefit the neighbors!
Doesn't benefit neighbors at all. We banned them in Catherdral City CA years ago.
My Airbnbs are entire apts with full size kitchens and a grill on the deck. It's cheaper to cook for yourself and family than a hotel where you will have to eat out every meal. Plus fill my frige with your food and beer etc. Try that in a hotel mini fridge filled with the snacks they charge you for inside. And I have bikes and beach chairs and carts.
Grill on the deck of an apartment sounds illegal af. Are you trying to burn down the complex?
@@AG-iu9lv maybe if you live in a HOA type building or apt complex they might have rules like that but I own the building. There is more risk of long term tenants causing a grease fire inside the house with the oven.
The only good AiRbnb type property is one that provides the unique experience u are looking for- one that it’s worth you paying a lot more for.
I travel a lot due to my career electrician and I always rent Airbnb, it will be terrible if it goes down.
Airbnb is a software it is a thing in the cloud. The homeowner has all the risk. There is no such thing as an Airbnb property because they don't own it. Airbnb is the classic real estate investment strategy...use other peoples money to make a profit.
The cooked their own goose with all the fees that were beyond reasonable. Some have a huge cleaning fees then also expect you to basically do all the cleaning on top of that. No thanks, hotel it is. 🤷🤷
GOOD TO KNOW
I need a investment property that has low HOA and I can visit anytime throughout the year ❤
Another reason to end the FED
Ahhhh someone who actually gets it! Kudos.
Fed is a symptom, but greed is the disease.
transient industry at best. Too many rip offs in the process.
That was rather confusing
I prefer sleeping in my car.
Just like Uber and Lyft no commercial insurance. You are on your own if you partake.
Excellent
Corrupt hotel lobby
ya everythings corrupt right?
My air bnb is doing pretty great.
This video is a half truth used for click bait. Shameful.
Great topic poor sound quality
Anything that has more than one fee added can keep it.
Interesting!
They are way over priced, it was a model built on Greeed!
7:17, bowchickabowwow!
How does a cute woman eating a croissant while internet surfing represent increased maintenance costs?
was never a good idea
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
Considering the sell and invest option? It's essential to consult a reliable financial planner to ensure income projections align with your goals.
Where may one locate a wise FA? Even while I like the idea of using their services, it's unfortunate that recent stock market catastrophes have started to happen more frequently.
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Jessica Lee Horst" I've worked with her for some years and highly recommend her. Check if she meets your criteria.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
It seemed there were good deals in the early years. The thing that killed it for me was the ever increasing fees
Exactly 💯
Use to spend 25 bucks in seoul! 2017 was a wild time for air bnb
The horrible inflation of the past 4 years and the weakening economy with layoffs haven't helped it either.
Speaking of higher rental fees in general. I read a couple of articles that quoted people about why they took the family to Italy for 10 days instead of renting their usual beach house on the Outer Banks. It was cheaper to fly to Italy for a vacation.
And increasing regulatory restrictions, insurance costs, and bad guests.
In the early years when interest rates were 0 and investors were desperate for returns they are willing to invest in unicorns that have negative cash flow simply on speculation bet. Now that interest rate is 5% all these unicorns like Airbnb have to demonstrate returns for their investors so naturally prices go up
This could be a massive blow to property owners and investors who’ve been relying on short-term rentals for income. Cities that have a high concentration of Airbnb listings might see a rise in foreclosures or property prices tanking if demand doesn’t bounce back
True, it’s looking pretty rough. I’ve heard of some hosts having to sell their properties or switch to long-term rentals at lower returns.
Maybe the collapse of short-term rentals could lead to more affordable housing in cities where Airbnb had driven up prices. If some of these properties return to the long-term rental market, it might ease the housing shortage in urban areas. And cities could benefit from lower housing costs, potentially attracting more permanent residents instead of just tourists.
That’s a good point. the collapse of the Airbnb model might make homes more accessible to buyers and renters who were priced out of markets dominated by short-term rentals
it could push landlords to innovate or focus on providing better value for long-term tenants. But even so, the transition might be painful for property owners who are over-leveraged or have mortgages based on their Airbnb income. For many, the shift could mean financial hardship
Yeah, it’s definitely a tricky situation. But I think this is where an analyst could come in and be a real remedy for those involved. An analyst could help property owners and investors understand the changing dynamics of the short-term rental market and identify which markets are still viable or emerging
Greed killed them. Fees on top of fees on top of more fees made it so once again hotels/motels are cheaper.
@@jodybarry8466 Early on there was a benefit to ABNB for both the LL and guest, now in most cases, I don't see it
GREED AND THIEVERY by the scumbag owners
A hotel room is not the same as an Airbnb which is normally a house or full apartment with a kitchen etc.
Man vrbo fees are much worse
Yu
Yep, we list on Airbnb and Vrbo. Most of the time they make more than we do with all the fees they charge. We dropped our condo to 99 a night. Someone tried to rent it for a weekend. With all the fees and a $79 in taxes it ended up being $658. So of course they cancelled.
that's why you offer direct booking services alongside. cheaper on them and more money for you. thats what a lot of hosts should be doing.
@@bnb_daddy we do, a lot of people are afraid to direct book though. Too many scammers out there. We offer almost every way to book possible to get as many rentals as possible
@@PumpkinKingXXIII do you have a nice reputable looking website and google business?
I recently researched rooms in Savannah GA near the historic district. The per night rates were comparable between airbnbs and hotels. But once the cleaning fees etc were added, the Airbnb totals were ridiculously way higher. It didn't take me long to scratch all the airbnbs from my list and go with a hotel room. I even got a free breakfast each morning 😁
@@dirkjackson8939 And room service and housekeeping, too.
Never stayed at one, never will. I think they are creepy.
While I don't want anyone to lose money, I HATE Airbnb! I don't like what it has done to neighborhoods in nice areas and I didn't like staying in one! I only did it once, but it was the LAST time! They drove up prices hoarding homes and kept the regular person out of the real estate market. I'm glad they are going away!
Living in L.A. County and I totally agree with you. It's the worst thing that has happened to renting or buying a home in California and other states as well. Hawaii is trying to make AirBnB illegal; because the homes have driven out the locals.
It’s ruined lots of neighborhoods in Florida. I hate airbnb.
Not to mention, how many hidden cameras did they have. I think there are rules now against them, but ...
They need to lose money, we need to deflate this economy
What did they do to neighborhoods? Legit question.
You stayed at one and didn't like it, and that was it? Now you're sure? Have you never stayed at a bad hotel? Lol
You all just sound like broke, envious losers, hating on others who are doing business.
Not to mention how Airbnb is worst run Company in America 🇺🇸
I don't know, have you considered VACASA? They are a huge vacation property management company. In November, 2021 a share of stock was $203. A share yesterday was $3.64. As recently as August 12 of this year it was $2.09.
@@Singlesix6As a management entity I would not consider it.
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless Sonia bless America.
Please share more info
I need a financial couch
She communicates on WHAT S A P P on the digits below>
She's active on What's Apk
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Abnb owners are creeps I found cameras inside the last 2 homes I rented, that was 2 yrs ago. I'll never rent again from abnb.
No you didn’t. 😂.
That's BS. If you did find a camera, then those people should have been arrested, were they? Maybe stay in a nice ABB that has good ratings?
Stop lying.
Non-creep owner here and I know other non-creep owners. Even if your experience was true, it is a gross misrepresentation.
I’m going on vacation in a few weeks and I wouldn’t even consider AIRBNB. I’d rather stay in a hotel.
Host "Please clean and take out the trash" Also Host "Cleaning fee $75"
Airbnb has become a big ripoff.
Have yo stayed at a hotel lately? I just paid over $200 for a room and there was a truck outside at 4am, delivering things for an hour. Kept me up for the rest or the morning. Never agan.
@@micker9830 I've stayed at hotels recently. I always compare hotel prices with airbnb prices before I rent, and I travel quite a bit. Hotels are ALWAYS cheaper and 90% of the time they are nicer. Most affordable airbnbs are in REALLY bad neighborhoods and the owner always expects you to do a bunch of chores you wouldn't be expected to do at a hotel.
Good bye
This video makes very little sense. Multiple reasons my butt. If people are traveling less, there should be more stays available, and increased competition leading to lower prices. If owners have to pay high fees to airbnb in order to rent their places, then they should do a long term conventional rental instead. This is just a lot of excuses for price gouging by airbnb, and for owners who are underwater in their mortgages attempting to have short term vacationers bail them out of their investment mistake. In either case, airbnb is declining, as it should, for morphing to a bad business model. And owners may have to sell out unless they can rent to vacationers for a reasonable rate.
What is not talked about is the fact that short term renters do not care about their environment resp. the neighbourhood and more often are a nuisance because of not adhering to community rules etc. Short term renting destroys neighboorhoods. Various communities in Spain like Majorca, Barcelona, Sevilla and Malaga are experiencing this and finally start to wake up to the situation and envisage restricting measures
Hotels are cleaner and safer❤
Every other average Joe wanted to buy a property at the peak to make an ABB
It appears that during Covid a lot people also bought beach houses to rent out by the week. One east coast property management company had just over 500 beach houses listed with discounts for the two-week period around a major holiday this summer. And these were pretty hefty discounts if you would rent "next week or the week after." I couldn't believe until I went to their site. At first I saw a page with 12 discounted cottages/houses. When I looked at the bottom of the page I saw that the Specials took up 44 pages with 12 on each page. I hope these owners can make their mortgage payments.
I’ve never used an AirbNb. I prefer the well run experienced professionally run hotel groups. None are perfect….but regular nobodies trying to run hotels? lol
Where there is bad, there is also good! A year ago, I could find 20 rental homes on the long term rental market in Chandler, Arizona. Now with Airbnb you have to register with the city. Today, it is more like 200. My current rental unit is up in 6 months, I am looking for a better home at less cost soon. A competitive rental market is very nice to a renter like me.
It started off as Home Away from Home/VRBO which was owned by its founder, a legitimate home renter. Was a subscription model back then and the owner set the rates. Airbnb in Europe and now US.
Home Away was sold and bought out by big corp. Fee’s went to a percentage base of rental income for owner and platform. Pure corporate greed took over and ruined a good thing. Disgraceful and no pity for these corp leeches.
Service fee, cleaning fees are a big turn off