The (Overdue) Collapse Of Short Term Rentals
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- Опубліковано 26 жов 2023
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#realestate #airbnb #business
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Short term rentals are a one hundred BILLION dollar [$100,000,000,000] market that have reshaped global tourism, accelerated a nation-wide housing crisis, and created fortunes for early adopters. But now customers, the government, the public AND the hosts themselves are turning their back on a concept that started out as a fun alternative to stuffy hotel chains, but became everything wrong with modern real estate.
The short term rental market took off when Brian Chesky and Joe Gebbia tried to rent out a spare room with an air mattress to attendees of a conference because they realized all of the hotel rooms had been booked out.
They called their service Air Bed And Breakfast which was later shortened to the short stay app that you know and love (or hate) today. Air BNB is now worth more than hotel chains like Hilton and Wyndham combined. The company is by far the largest short term rental company, and it has achieved excellent penetration into markets around the world where other similar peer to peer or network market apps like Uber, Doordash, Lyft and even Amazon have failed to take share away from local competition.
It WAS a good idea, customers loved it for giving them a cheaper alternative to outdated hotels, and hosts liked the opportunity to earn extra income on a spare bedroom or even an entire separate property.
But the four parties that make the short term rental market work, the customers, the hosts, the public and the platforms are all not dealing with four unique problems that are threatening to undo this market and take out a lot of other real estate investments with it.
The first problem lies with the people who it’s hardest to feel sorry for, the hosts.
AirBNB and other short term rental platforms provided a unique opportunity for people to profit off real estate in a totally new way.
The extra income was nice but the added flexibility of a short-term roommate was the biggest appeal to most people. With a short term tenant, any problems are only going to last as long as their short stay. That was the early value proposition of AirBNB, but sharing a spare room and staying with a random person while on holidays only appealed to a certain type of alternative traveller.
Most people who AirBNB are putting up entire properties for guest to use as exclusive accommodation.
Instead of a short-term alternative to a roommate, the market became a short term higher yielding alternative to a conventional long term tenants in an investment property. They fitted doors with keypad locks that could be changed remotely between guests, easily cleanable surfaces, inexpensive but fashionable fittings and preferred properties with minimal landscaping.
All of this cut down on the additional effort hosts needed put in to managing a property.
But like all good thing it didn’t last forever.
AirBNB advertised its platform just as hard to new hosts as it did to guests and investors started buying multiple homes to turn them into AirBNBs.
Their fee was higher, but the higher short term rental price meant owners still came out ahead.
The additional cashflows from higher yielding short term rentals also made it easier to qualify for more home loans because the additional income could be used to pay for the loan on the next property and the next property.
The inevitable result was clear… for little additional effort hosts could make more money from their properties, so the market became oversaturated and host started to struggle to rent out their properties enough to make it worthwhile.
Short term rentals also made long term rentals more expensive so the gap between what someone can make from a short-term rental versus what they could make from a long-term rental is narrowing.
For many hosts it’s no longer worth the additional risk and effort to rent out properties short term, and for others that could only afford their loans because of the higher rent they got from short-term rental yields, they might be forced to sell.
So it’s time to learn How Money Works to find out how short-term rentals got so big, and failed so quickly.
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Manscaped doesn't ship to Philippines huhu :((
Nonsense point, not yours or anyone else decision as to what they do with their own property unless it impacts neighbors negatively.
Manscape is a horrible product
Why? @@kalehachey3506
My Golden Retriever loves it!! Doesn't even bark!
I sort of just stopped using it because it just wasn't a good price most of the time anymore. It's OK for some one-off unusual rentals or maybe for a big house for a large group, but travelling as a couple for short stays it just costs more than hotels these days for a less reliable experience.
The last bit you've mentioned: costs more. Worse experience. Once upon a time my wife and I used airbnb almost exclusively on trips. That was many years ago. Now, we just get a hotel.
The price of an airbnb vs a hotel became almost the same for quite a few places such that we just decided to go for hotel. Something changed and the hotels won our business back.
I never did use them. I was late the party since I believed the marketing that it was for sharing a place, which is not my jam, but by the time I realized most listings were private stays, the prices had already gone up and hotels made more sense.
And since then I’ve heard enough horror stories to avoid them forever.
I started using booking because it has a much wider range of options and they treat customers a lot better than Airbnb.
It works great for groups of 6+ people but anything less makes more sense to just do a hotel in my opinions
Airbnb isn't worth it for short stays or as hotel room competitors. It's much more worth it if you want a lot more house, want somewhere with the facilities to stay longer, etc.
I was done when they told me I had to clean the bathroom, wash the sheets, and mop the floors. And they would still charged me for a cleaning fee. We canceled so fast and just split a hotel instead
Wash the sheets? Are you serious??
🤣 I was done with mop the floors 😖
at least you didn't have to walk the dog... not kidding
@@manonamission2000walk the dog? So basically they were charging you to be their pet sitter?
That’s wild! I usually just wash the dishes and take my own trash out because I want a good review not because that’s the rules. Crazy
In a nutshell: It went from offering travelers an authentic affordable stay with locals who make some extra cash on a spare room, to overpriced short-term rent filling the pockets of real estate overlords. Creating an artificial housing shortage and pricing out residents from long term rental in the process.
Stay with locals sounds terrible. What's nice about airbnb is when you need space thats more accommodating and potentially affordable. If you want a 1 bedroom hotel room that can easily been 300+ a night. Many airbnbs even now are less than that.
While i disagree with many Airbnb policies, it offers more to more ppl than staying with locals. And it has a niche that's hard for hotels to fill affordably.
Staying in Tahoe with family, need 4 bedrooms can rent a cabin for like 500-700/night. To book 4 hotel rooms in the same area would be 1600 easily.
Exactly
And then to ammend your comment, it priced out residents from SHORT TERM rentals too!. which is what airbnb is so now its effed
@@trevnti That's exactly what VRBO dominated. And far better: you could speak directly with the friendly owners, exclusively, get rate discounts based on stay length, and negotiate rates. Had they rebranded earlier, offered a UI/Experience not so Craigslisty, and pivoted towards the marketing BnB did, they would have stayed there.
We've had roughly 30% of airbnb stays with direct owner communication. That is seldom the standard though, and far under half of the stays actually do. More importantly, they're not through a paywall/secured booking reservation to get to them. While you may think you're getting to them, you're usually just speaking to a ManyChat ai bot versed on the policies, SOP, and features
unfortunately though, what I'm getting from this video is not that those leaches are going to suffer & housing go back where it's needed, but rather the leaches will just change platforms, while contining with short term rentals
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
Please how do I connect to her? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.
Natalie ’ really seems to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.
The people living in tents are mentally ill. It isn’t because of high prices. Incomes are higher in CA than most other states.
SCAMMERS SCAMMING
AirBnb died the moment they allowed all of these property management companies to list on their platform. The fees are utterly outrageous and there is always a BOOK of rules, regulations, and chores so thick that you can’t even enjoy your stay. I’m over it.
True. Been there done that. It was a disaster
Greed
I think about 2015, I went to a tough area on tge Southside of Chicago. For $35, it was their tiny living room/rehearsal studio. It had a piano/drumkit.They hung a sheet over the archway. It was right by my gig..a great experience. Had breakfast in their kitchen with them.
That is a total disaster. The best stays I've had have been when the person has an ADU or pool house or something that they rent out. I wouldn't even consider using the service anymore, simply isn't a good deal, but those were genuinely good experiences.
not true. if you avoid the companies and choose a private owner, you can read their house rules on the site before booking. what's the problem?
My simplified read on the whole AB&B thing is that everyone just got greedy. AB&B realized the profits they could make by simply adding fees and fines. And not doing anything to stop the fraudulent damage and repair cost claims against guests. Most of the hosts started jacking up the prices just because they saw home sale and traditional rental prices going up, without adding any actual value into their listings, all while doing little to no services of any kind. Then of course the investment firms started pushing their way into the market when they saw the potential gold rush.
Thats what happens when you have a monopoly, even Uber took 14 years to become profitable. But Uber was fighting off 3 other ride share services and it's still in debt.
Also it doesn't help when everyone else wants to buy land and gain a monopoly and remote work makes land expensive. People abandoned georgisim when cars happened because Suburbs became viable and more land was available. Now we have everyone fighting for land because of artifical scarcity with zoning laws
@@whaletime69 zoning laws overwhelmingly only allow single family homes instead of apartment buildings. that is not how to create more housing.
@@ronblack7870 yeah that's why I said artificial scarcity. There's no reason why Lisbon is cheaper and more affordable than any city in the U.S
I didn’t receive a penny for people behaving like monkeys regarding damages… FYI 🖖🏼
"Most of the hosts started jacking up the prices just because they saw home sale and traditional rental prices going up"
Then they were incredible stupid.
If these hots don't even know who their competition is, they're destined to lose.
You're competing against hotels, not other rentals.
I was the cleaning lady for a few luxury air bnbs this summer. The most expensive unit was over $1500/night. The cleaning fee was $200. I was paid with that fee, except the hosts kept about half for themselves plus about 10% for cleaning supplies. So I made ~$90 every time I cleaned that unit. What the hell was the rest of the cleaning fee for??
To answer your question on ‘the hell was the rest of the cleaning fee used for’:
To cover their other costs and profit, because it doesn’t matter to the host or the guest how the total price is composed. Only the total price matters.
Cleaners often assume they’re entitled or underpaid by whatever the host charges the guest. The host has the right to even charge $10 for the stay and $1000 for the cleaning fee. It doesn’t mean $1000 is the market rate for cleaning the unit, nor that the stay is only worth $10.
Besides wiggling the #s around to hopefully get more bookings, many non-cleaning related fees roll up under ‘cleaning fee’ from the guest display - linen fees, management fee, property use fee, resort fee - these are all line items hosts are allowed to charge for by checking the box on the back end of the Airbnb website, and they all show up under ‘cleaning’ on the guest’s checkout invoice.
The host has the right to charge whatever bogus fees they wish to charge to help cover the costs of the operation, or to profit (just like the cleaners aren’t cleaning at-cost, they are making money too). The cleaning fee changed to the guest is 100% irrelevant to however much the cleaner is being laid, and the cleaner has the right to set up as the price regardless of whatever the host is charging.
On the flip side, I charge my guests a cleaning fee that’s less than what my cleaners charge me, because I don’t want the cleaning fee to be the deterrent to gaining the booking. I started this setting from day 1, because back when the cleaning fee basically wouldn’t show up until guests were about to confirm and pay. Just didn’t want to scare the guests away. Never have I heard my own cleaners or any cleaner in these online discussions conclude that my cleaner should be making only how much I’m charging the guests, and not more. I do hear all the cleaners gossip about this host and that host charging their guests more, though, but no one ever asked me why I don’t pay them less or why I don’t charge my guests at least the actually cleaning cost. The opposite side of the same coin / your logic would suggest that no cleaner should ever get paid more then what the host is charging.
Some hosts in my building charge $0 cleaning fee. Does that mean their cleaners should clean for free?
The commenter above me gave a good response. I'll just add that it would also help to cover some of the depreciation of housewares than need to be replaced every so often like towels, sheets, mattress pads, bath rugs, etc.
Amen. Well said. The cleaner also has zero overhead, doesn't take the 10pm calls from guests, deal with maintenance issues, has no liability, doesn't pay for supplies, pay for PMS software, insurance, deal with broken items, manage running the business, deal with cancellations, legal agreements, etc. The list goes on. We pay our cleaners well above market rates, but they have a limited low skill job - clean - and then they are done. We handle everything else and how we breakdown a line item for cleaning is our business as long as they are paid well. @@FuzzyGreyPenguin
@@FuzzyGreyPenguinone huge contradiction of a comment their Ma'am. You are the exact type of people this legislation is targeting. Enjoy! 😂 The example they provided doesn't make your point look good. Never met a house cleaner that doesn't have their own cleaning supplies as the owners are NEVER there to restock those things. Basic toiletries should be rolled into the incredible profits, among other things, that you have over normal long-term rentals. Greed greed greed and you and many other fail to see the consequences. If there is limited property, like Hawaii for example, Airbnb's are poison to the community. If you are renting a condo outside a city that would be different obviously. Be kind to your labor, not just in practice but in the comments.
@@lvega5606that's rolled into the profits (2X normal rent rates for 6 months of bookings.) It goes both ways bud. Like the poster above you said, the fees are just bad business, similar to tipping culture going on for everything it seems now.
Imagine going on vacation, and having not only to clean somebody else's house, but having to pay 30% more for "cleaning fees". And it's still more expensive than a hotel. No thanks.
People dont appreciate having a mess done in their house, or would you like that smh
Exactly. I don’t go on vacation so I can clean. That’s a major reason I don’t do AirBnB.
No one is asking you to scrub the toilet, mop floors, scrub the tub, clean the oven wash the linens and make beds. (Which is just a small list of things the cleaners do between every guests stay)
Guests are asked not to leave a refrigerator full of food or their trash in or around the property.
Simply removing YOUR trash and YOUR items is NOT cleaning the house. There’s a distinct difference and it’s astonishing to me that some people don’t understand that.
Comedian Tim Dillon got banned from the AirBnB platform after he refused to pay a 400$ "COVID cleaning fee" which then led to a rant on his podcast that got him banned.
@@wendabonazza5536some don’t treat other people’s places well. I always leave in clean condition. Not fully clean but tidy and sheets in washer. Not exactly difficult. Takes me maybe 15 mins
I recently looked at Airbnb in Melbourne for a holiday. The difference for a 4* hotel and a airbnb appt was $20 for a 4 day stay with airbnb being cheaper. I went with the hotel because they'll clean my room every day
Precisely why I never used them. I can get free breakfast, have a gym, pool and housekeeping. Why would I go elsewhere and have to pay the same? #GREEDYBASTARDS
and there is actually staff there if you need some help.
… and yet we would do the opposite as a young family with small kids. AirBnB properties “generally” provide better amenities than a hotel for a family with young kids. We don’t need staff coming in and annoying us.
Yeah, I call the staff almost zero times at a hotel. They just make my bed in the morning. 😝 WOW what an advantage!
lol how dirty are you that you need a daily cleanup
It's a real problem in the mountains of Colorado. You have these people who are no longer able to afford in the mountain towns that they work in, because people are buy up properties for short term rentals and are even lobbying the government to build more housing. And people go: "Well, more housing means the people who live there all year round will have homes." No, they wont, because those new houses will be bought by people turning them into short term rentals.
At some point you’ll add enough housing that the short term rental market in an area will be maxed out. Land developers in mountain towns, with or without Airbnb, were always going to favor building higher margin real estate aimed at vacationers. If you say no Airbnb in these mountain towns developers will probably just build more hotels that will be harder to turn into long term rentals when they age and loose their luster.
@@Hans_Peterson That's the issue. They DID run out of land to build new houses in. So now they're petitioning the Colorado government to sell them state park/nature reserve land to build more houses on and the government is going with it.
@@TimmyTheNerd there’s probably a myriad of building restrictions imposed by local governments that prevent denser housing from being built in these mountain towns. The responsible thing for the state government to do would be to not sell nature reserve land and to strengthen property rights to lessen the power of NIMBYS at the local level.
Until the demand is saturated to the point where STRs aren't any more profitable than rental housing. The reality is that we need to build way, way more houses almost everywhere. In the meantime, we need to regulate STRs to limit the number that can be in service in a given area, but there's no reason not to keep building to fill that demand as well.
@@Hans_PetersonSadly there are some in government that do sell such land for the money being offered to them.
I recently saw a rental that was $80 for a night, but the host added a $200 "host fee" and a $200 "cleaning fee". I got a hotel for $77 a night that included breakfast and parking. Bye Bye Air BnB.
I remember travelling to Prague and Budapest in the early 1990s. Arrive at the train station and people standing on the platform would ask you if you want a room. You liked the look of them, asked the general area and they pointed it out on a map. You went with them to their house or apartment, looked at the room, said OK, gave them a small fee (by western standards) and you had a clean simple room, usually, breakfast with your host and an interesting experience. Turn it into a business and it all gets ruined.
Yeah, I was backpacking in 1992. I found great flats in both cities with interesting people.
Yeah but not everybody likes to travel like this, it's nice being able to prebook, and have a desirable place to stay. Especially if you're not traveling solo. Or you're not a backpacker. My fiance is a backpacker but i'm not. While I disagree with a lot of new Airbnb policies, it is nice to be able to rent suitable accommodations for sometimes less than a hotel or more accommodating than a hotel
@@trevnti backpackers can be pre-booked too you know
Well, you could get into a crappy hotel in a unfamiliar neighborhood in a unfamiliar city. The nice looking guy could hand you to a ganster-looking receptionist to whom you dare not to say no...
Right, I remember that’s how I found a room in Budapest around 1990/1, a woman who called herself mama Helen, approached me, holding a clipboard, dressed head to toe in leopard print, we took a taxi, I was able to communicate in my limited German, had a great week in her top floor Beaux Arts apt - single lightbulb per room, overflowing toilet, a few other backpackers staying there, very memorable time and very low cost.
It was the cleaning fees that turned me back to hotels. Having to pay a fee and still be required by the host to clean before we left was something got under my skin. And there was one occasion that the fee increased about $100 per guest per night, and that immediately out priced itself over a hotel
I just don’t want to clean.
We stay at hotels and we collect up our own trash, put our trash in bags, fold the used linen, and place our trash and used linen by the door for the room service.
I’ve stayed at Airbnbs where they wanted us to sweep, mop, wash the linen, fold it the linen, wipe down the bathroom, wipe down the kitchen, clean the fridge, and take out the trash all while still charging us a cleaning fee.
What’s the cleaning fee for if I’m the one cleaning?! Lol
Airbnb and these Airbnb hosts can all lose their investment and I will not shed one tear.
I used an Airbnb once. The rate was good, but the rules were hard. The places that needed to be cleaned...including the oven if I used it. To undress the bed and leave the sheets in the bathtub but separated from the towels. Since my flight was leaving late in the day, I asked if I could stay later and just pay a late checkout fee but there was no option for that. I had to be out by 11am as the locks on the door would automatically change and I would no longer have access to the place. The owners were nowhere near me but via a text and if I had an issue, I would have to text them and wait till they responded. Lucky, I had no issues. I decided to just use hotels. I don't have to clean before I leave. I don't have to worry about the door lock changing if its one-minute past checkout time. I can pay a late check out fee in some cases and still have access to the room or, at least leave my luggage and stay at hotel until its time to leave. Also, the cancelation fee is tough on an Airbnb as opposed to a hotel.
I suspect thats more about getting around the rules on the advertised rental rate. Regardless of the product, I am always suspicious when a supplier has hidden costs like that.
My issue was that a lot of the cleaning fees are just built into the price without being built in. You can do everything the host asks and leave the place spotless and they'll still hit you with the fee because it's a part of their profits.
The bigger issue is the 7 spy cameras those f....kers are using to film you and spy on what you're doing. That makes it a nope for me.
Airbnb made sense when it was people renting out part of their house for additional income.
It didn't take any housing off of the market (most married working professionals aren't going to rent out their guest room permanently), and it was still way cheaper than a hotel room, often with access to kitchens and other perks.
The problems started when people started buying housing specifically to rent out on Airbnb, it ruined the value proposition for both sides.
Yes
Nah, regulation ruined the value proposition.
@@jameshorton3692 Typical, "it's the gubberment!!!!!!"
Or maybe it's the free market? AirBnB has been ruined even in places that didn't place any regulations surrounding it. Even in places with no additional taxes or costs, prices have surged, because people get greedy, as they always do when something becomes an "investment".
Now in Vietnam we have giant property developers who make illegal and hazardous ‘semi-apartment-condotel’ BS with the goal of selling wholesale to rich Airbnb hosts so they can rent out to tourists 😂😂😂. It’s a fcking mess over here.
Exactly, the most idealised version of airbnb was suppose to be a spare bedroom in someone's house that you could let people stay for a few days. That was it, but people got greedy and I mean all sides got reddy
Three houses in my grandmother's neighborhood were sold to people who turned them into Airbnb rentals. That was less than ideal in a quiet, residential neighborhood, and it was technically against city code, but my family figured it wasn't that big of a deal. Then we started seeing the whole street packed with cars as businesses rented the houses for their company parties, or people rented them for wedding receptions, big parties, etc. They'd bring in DJs, bounce houses, and food trucks, and although they usually ended the parties when noise ordinance kicked in at 10 PM, that often still meant a whole day, and sometimes whole weekend of noise and cars and general disruption. So we reported the properties to the code enforcement arm of the city, and we haven't seen any big parties since. I'm not sure if all rentals have stopped or if the owners are being more judicious about whom they rent to, but the main problems have seem to have been rectified. It takes a certain sort of arrogance to buy a half million dollar house you intend to rent as an Airbnb in a place you know doesn't allow them, and I don't have the slightest pangs of guilt for messing up someone's business under those conditions.
more regulations are required
This really isn't the norm but it does make for some delicious talking points. Well done.
this is good snitching.
@Zectifin
Snitching is involved when something or someone is morally wrong. In your simple terms, don't want to be snitch on? Don't do it then.
im a host who evicts at the first sign of a party or gathering. I provide off street parking and limit guests and vehicles. Being a responsible host isnt hard,but too may douche bag investors buying multible propertys and not living on the property or very near is the problem.
Same thing has happened with the taxi industry in Australia. Uber was a major disrupter, but now taxis have raised their game, and are sometimes cheaper, cleaner, and more reliable than Uber.
taxis scam... uber you get a price. hop in a taxi and it ends up being 2-3x more
Good for you, but that's hardly a challenge xD
@@echoecho6445Just book your taxis. I pay before I even get in and know exactly how much it'll be.
taxis are a complete scam
@@echoecho6445no, in a taxi, you pay the actual cost of operation. That's the thing, your driver bears the actual cost of operation, and in the case of rideshare the bulk of what you pay goes to the corporation and screws over the driver while you expect "5 star" service while paying your driver 3rd world wages. That's why you suck.
Worst accommodation experience ever was at an Airbnb which was described as a "luxury" townhouse charging about $400 a night, but had dirty stinky sheets, bugs crawling all over, and full of cheap old furniture and leftover food in the fridge. Owner refused to give even a partial refund and so we moved to a five-star hotel for $50 more per night. Airbnb doesn't even make any sense anymore.
Sounds like you made this shitup 😂
@@jamman7344 No, it's 100% true. Airbnb also deleted my review per request by host because they weren't getting any more guests because of it!
We need pictures for evidence of your claims
@@SAAN27 Of course, I'll send you the pics. Just post your mailing address here.
@@dsgcloud6092 I'm just kidding, the town home next to me was turned into a Airbnb and there's some weekends I live through actual hell, even the drug dealer down the street turned his place into a Airbnb. Maybe he gives them a free bag of weed with each stay lol.
Everyone has their definition of four and five star when they're listing them versus what a four and five star actually is
I rented an Airbnb once when I was having surgery in another state, so I booked an apartment for a week to recover. The day before my flight the host cancelled my entire stay, so I had to scramble last minute to find other accommodations. I ended up settling with a hotel because there were no comparable Airbnbs at such short notice, and I couldn’t afford for some random person to cancel on me again. Not to mention, the number of misleading hosts who say you’ll get their entire apartment or house, only for somewhere in the fine print to say that it's only a bedroom and you’ll actually be sharing with their family and/or other guests makes it too sketchy and unreliable for me to ever use again.
AirBnbs are far too noisy to recover from surgery. Just this year, the Brisbane AirBnbs I've stayed in had:
1. an unemployed drug addict partying until 2am each night in the room next door
2. a family of 5 kids in the basement crying and arguing all night
3. really badly behaved dogs that barked all night
4. a weird homeless guy on the couch in the private guest area using the guest toilet
5. the host's kids coming into my private bedroom and bathroom to use the toilet in the night while I was trying to sleep.
I left the drug house AirBnb and checked into a motel and the kind motel lady said she's had so many bookings from people leaving AirBnbs that were filthy, cockroach infested drug houses. She'd heard so many AirBnb horror stories. And the price I paid for the motel was only a tiny bit more than the AirBnb.
I think it's weird to recover from a surgery in an Airbnb. Imagine being in someone's house recovering from surgery. Please, no.
@@caravanlifenz Sounds like you got the best Airbnb experience in Queensland under $8,000 AUD per night...
@@caravanlifenz I could say much the same about different hotels I've stayed in. Being charged for vandalism that I didn't do, roaches all over the place, rats, cleaning staff whom I caught searching through my luggage, cleaning staff sleeping on my bed, maintenance staff entering the room without knocking while i'm naked. Everyone can have a bad experience. A personal anecdote is not really good evidence.
14 year old boy with a 19 inch hogg whips it out at the community swimming pool, scaring the parents and causing a riot
The weird host rules and halfway spying that hosts do killed it for me. On top of a massive cleaning fee and still expect you to clean the house. You always know what you’re going to get with a hotel. Airbnb can be super hit or miss.
I live in a tourist destination. Airbnb and other short term rental apps destroyed the housing market. Homes were bought up for an extreme price and immediately put on Airbnb for vacation rentals. It made it impossible to buy a home or even find an apartment.
As a firefighter in that town, we are fully volunteer. Airbnb put a huge load on the emergency system as the people who own the homes don’t live in the same state, so they would just call 911 when a tenant needed something. Towns finally banned Airbnbs and the effects still are around. Airbnb ruined so many peoples lives and cost tax payers so much money. Screw Airbnb and alternatives.
I lived in Hilton Head, SC workers had to live 30-45 minutes off island because everything on the island is either a short term rental or retirees
I meeeeeeeean… have investors EVER just accepted that investing comes with risk? Haven’t they always, as a cohort, whined and moaned and even effected massive, long-term state alterations in order to reverse the effects when risk doesn’t pay off?
Is that whining and moaning or is it acknowledging the risk and therefore taking steps to mitigate as much risk as possible, albeit with no concern for any of the other parties involved. Js, there's a rational reason for this behavior. People running large real estate and investment firms aren't stupid or bad at making money. They're ruthlessly effective at it and they play for keeps at the expense of the public.
They will certainly tout that motto when backed into a corner. "I'm CaRrYiNg All tHe RiSk HeRe, PeAsAnTs".
As if them being inconvenienced by losing some money will put them into a similar poor-house. Oh, how they cry, how they cry.
@@Jeebus-un6zz I don't think those two actions are mutually exclusive. And I definitely think it's a mistake to characterize these people as "not stupid" and "ruthlessly effective." I work for an investment firm. These people are as human as anyone else and are, on average, far more prone to failure - because they can afford to fail. They can have as many do-overs as they want. They just obscure or explain away their failures (case in point), while highlighting their good fortune and characterizing it as meritocratic success. It's classic survivorship bias. They, as individuals, are not particularly effective at anything.
you don't even know what a cohort is, you just know how to complain, as usual for your kind of demographic
@@BPFACTS88 Our demographic, evidently.
I will shed precicely zero tears for Airbnb bros who have to leave the market becuase they now can't make any money.
Agreed. They’re taking away housing from people who actually want to live in these areas.
Yeah I honestly have zero sympathy for them; they straight up contributed to the housing crisis that's keeping people my age (late twenties) from owning property/renting at affordable prices. Is it entirely their fault? Nah, but that doesn't mean I'm not taking notes on their contribution.
I'm not sad, either. These Airbnb bros have devalued neighborhoods and brought down quality of life by renting out party houses. They don't care about creating noise and problems for the neighbors. All they care about is money. Luckily, my suburb banned Airbnb's years ago.
Tears, none. But laughs? Lots.
I will be playing them a sad little song on the world's smallest violin
Me and the rest of my apartment building were given 1 month notice to vacate. I lived there for 5 years, rent paid on time every month. The reason for asking everyone in the building to leave: the building owners were turning all of our units into Airbnbs. Absolutely disgusting that this was ever allowed.
Karma keeps receipts.
Their greed knows no end.
You could always buy your own house....
@@imnitguy Yeah if I lived in buttfuck nowhere. Brooklyn is one of the highest cost places to buy a house in the US.
They’re gonna lose money soon
Airbnb also assumed they could treat their customers like garbage and it wouldn’t affect their business.
This. Having previous customers actively wish for your destruction isnt a business model.
Had an Airbnb once that ghosted us. Had a trip planned 4 months in advance. A couple of weeks before we were checking in to make sure all was set before we go. We got no response. This continued until the day of our departure for vacation. Again, no response. One of our friends found the dudes number online and we called. He stated that there had been water damage and that we couldn’t come. We were really upset because we had already paid for the place and asked him “Are you serious?” He then puts us on hold playing music which sounded like a UA-cam outro and hung up. Luckily, Airbnb got us situated with another place, but it was hard as hell to find something day of leaving.
Airbnb is the perfect example of what is wrong with big tech, their "piss on my leg while telling me it's raining" approach to their business. Sure, at the start it was a novel service, but at scale it's just a hotel/property management business. Like Uber, it's just a taxi company. But they'll insist they're 'just' connecting people to people. It's so infuriating to everyone who isn't a business lawyer.
I've worked for a few tech companies and nothing makes my skin crawl more than "disrupting blah blah industry". I'd rather hear a company say "We're going to create a good product that is of value to our customers". Half my former Bay Area based tech coworkers were obsessed with figuring out a start up idea that would get them a boatload of VC money, but they also were obsessed with solving their own first world problems, resulting in ideas like "Drone delivery of tacos at midnight". To a degree, Uber and AirBNB were a reaction to certain industries that weren't innovating with the times, such as taxi companies or some hotels. But greed tends to ruin good intentions.
People started by sharing their spare bedroom at home with tourists for some extra cash, then others decided to go all in and bought investment properties with the sole purpose of renting them out short term. And that’s what went wrong with Airbnb, same way it went wrong with Uber and other ride sharing or food delivery services. An idea that was initially focused on getting more out of under-utilised resources in our spare time turned into full on business models, and all of a sudden the individuals have to deal with the usual hurdles that come with running a business, while unable to benefit from the economy of scales that big businesses actually do enjoy. Taking a few passengers along on your way home is convenient for you and cheaper for them; buying a new car and driving passengers around all day, on the other hand, is operating a taxi service for a living and there’s a huge difference.
Very to-the-point comment.
Remember when it was called "Ride sharing"?
employing "underutilized resources" was just a hope, or even a ruse. The main effect was to motivate people to provide services they would have never considered doing, by making it "easy and casual".
Exactly this. I'm actually someone who still uses Airbnb in its originally intended way -- which is to say that I always select "private room" options, never "entire place". I actually like being able to meet the hosts and chat with them, since I solo travel pretty often. I think this has contributed to the fact that I have never had a bad experience in my more-than-10 different Airbnb stays across the US and in other countries (knock on wood). Literally stayed in an Airbnb in Vermont a few weeks ago and it was great. But its really the large corporations and people trying to make this into a business that has ruined it. I've heard and read plenty of horror stories from both guest and host perspectives.
@@ssolomon914 Agree. My husband and I have stayed in airbnb's hosts homes and almost always met the owners. Once I was trying to book a hotel in Florida and when I called to reserve, I was quoted a price far above what their website said. We went w airbnb instead and it was great. But I do understand people w kids want to be right next to the beach, use the pool, etc. We saved money because we were in the minority.
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The one time I tried to Air Bn'B, I found a studio apartment in the city for like $65/night. When I clicked to book the night, they added another $40 in cleaning and "occupancy" fees (begging the question, "what is the $65 for"). I found a cheaper room and free breakfast at a Holiday Inn.
Mind you, I just want a clean room. My destination is the vacation, the hotel is for sleeping.
yes i want to know the difference between a room rate and an 'occupancy' fee. And for them, to slap a cleaning fee on that when they are charging for the cleaning is more doubling up on screwing your twice
I like backpacker places, since they give just the bed & for $20-$30 per night in a dorm. Extra bonus of getting to meet interesting people, having cooking facilities available, free luggage storage if you go on tours for a few days. tour desk to book those multiday or daytrips with, always located near grocery stores & other facilities, have pools & various recreational spaces etc etc & cleaning is just to be handed clean sheets when you check in & have to put them on your bed yourself & then strip them off the bed & take back to reception when you check out
I think it reduces what they claim as "income" while actually collecting more money. The host can't dodge the tax man anymore
I used to love AirBnB but their prices started being on par with hotels so I might as well stay in a hotel where I don't have to worry about the hotel being able to rate me and I don't have to clean up thoroughly afterwards.
Also, how can anyone feel safe knowing you're in a stranger's home and someone else has the keys to your front door?? Hotels are safer.
it depends where, most places I stay, hotels are still cheaper (especially for more people), plus there are areas such as smaller towns where there just aren't any hotels in those areas, air bnb would be perfect for those.
is it a US thing? in my anecdotal experience in europe, airbnbs are usually 1.5x to 4x cheaper than hotels, and cleaning is usually fully included by the provider (it is not expected that the guests take out the trash / mop / do laundry / and so on)
@@Granknight1It is a US thing! My experience with Airbnb all over Europe is amazing, my experience in more than a dozen US states with Airbnb is horrible!!! In Europe what you see as a price per night is actually a price per night. In US there is a price per night and then there is tax, and cleaning fee. Cleaning fee for properties I stayed in ranged from $70 to $200 for 2-3-4 night stays. And then there is a rule book where it says you’re expected to remove the sheets, take out trash, sometimes even turn on the laundry machine😂 Its horrendous. Not to mention that overall cleanliness to begin with is so low in US compared to ANYWHERE in Europe. So yeah, it is a US thing. Not to mention that I had a situation in US where a host cancelled a couple of hours before I arrived and I was already on my way. In the US, they treat it as a business and Im not sorry for all the hosts that are now struggling. In Europe its still the same as it always was and I never met anyone in Europe whose profession was “Airbnb host”.
@@raphaellavictoria01i wouldnt say hotels are entirely safe, i mean if front desk staff wanted they could go in anyones room, just like house keeping and maintenance have master keys as well.
I live in Thailand, a popular tourist destination. My apartment complex has 4 blocks of apartments and quite a few shops and ammenities. When I just moved to this apartment in 2019, the complex was filled with long-term renters like myself. It was a lovely community that I enjoyed being a part of.
In the past four years, our complex has been completely overrun by Airbnb hosts (and subsequent guests). One host (most likely a company) bought up 30 units - they are not even here - there's a massive digital locker with codes and keys for all their units. Many of my old neighbours were told their leases wouldn't be renewed, while others simply couldn't take the chaos caused by guests anymore and moved.
It's become a horrible revolving door of entitled, rude tourists who don't follow any of the ground rules, treat the local workers in the complex like they are hotel employees, and just generally cause havoc on the property.
The kicker is that Airbnb is illegal here in Thailand, but like many laws, it's a law only on paper and not really enforced.
I'm surprised someone hasn't smeared superglue all over that key locker. I've heard of people so frustrated with AirBNB taking over buildings that the actual residents work to sabotage guest stays to elicit bad reviews to discourage future guests.
It seems as long as they get their time tax money and revenue from tourists, I don't think they care about enforcement
I had to move out of my apartment in the US because the landlord made it an airbnb. It was his choice, now rentals are down and they want long term tenants to come back. I prefer to go where I am wanted as a tenant. It doesn't matter if airbnb is illegal, because the concept of short-term rental is all about supply and demand. More regulations will not fix anything. There are many websites to get a short-term rental, airbnb is just one of many. Are you against the concept of short-term rentals?
I can only imagine. I Mr was apparent immediately when I’m condo building voted to allow more renters than was currently in the bylaws….. people starting for a few days at a time would be a nightmare.
@@TC-cd5smthe problem is Thailand don’t even get much Tax with their free VISA for the tourists and when Air bnb is illegal, how can they collect tax when it’s illegal? Mostly money will go to the corrupt police.
Oh boy, I feel sooo soo sorry for the greedy landlords that spent so much time and effort creating a housing crisis.
That's the free market, isn't it? I'm sure all these capitalist entrepreneurs understand that no investment provides a guaranteed profit. It's the risk that makes it exciting!
@jayogee913 People only enjoy capitalism when they are the ones "winning". When they start losing, all of a sudden everything is "unfair".
@@MiorAkif True point.
@@MiorAkif -- while part of that is true, when you don't control this world & that includes the fake fiat financial system NOTHING is fair. If you think the world being mainly evil is something to just accpet, then there's nothing more for us to talk about.
The evils made most of their money initially in the banking and use usary and brainwashing to make trillions off of us.
Then of course stealing ta.xes from us (the majority go to them off in EU) and then getting everyone addicted to drugs & selling them drugs & that's both rec & evil pharma.
You have no idea how evil this world is and the worshipping of MONEY is one of the biggest (not only) issues. That's how they control their evil collectives who do their dirty work for them & then the 99% does the same thing b/c they model themselves after EVILS and their evil behavior.
It sounds like you worship money over Natural Law.
And I used to be an entrepreneur, but I have a Conscious and I woke up to the Truth back in 2015 & it's only in the last 4 years have I learned how bad things are. Before I was only studying part time, since the war started, this is my full time job.
Just give it this year & if you haven't already started feeling the collapse of the WORLD economically, you will. I've been watching it unfold since the war started in March 2020. Of course they were playing games with the economic system long before then, but this is it. Pretty soon no one will have any money & the mafia government will come offering you their CBDCs so long as you be a good little boy.
They are set to steal EVERYTHING you own if you can't hold it in your hand. They even told us they were going to do this years ago.
No thanks, I don't believe in SLAVERY, I choose to FIGHT
Screw them.
We're seeing institutional investors and property management groups moving into Hershey. In my neighborhood, a duplex, four-unit apartment, and four homes (out of about 50) have been converted to short-term rentals. Four neighbors we knew, including two elderly ladies, were turned out of their long-term homes, and lower middle-class homebuyers are now priced out of the area.
When you take a short-term rental, you've done your part to destroy neighborhood connections and make it harder to buy a home for the next generation.
Recently went to playa del Carmen, mexico. There was a proper "aparthotel" that provided a kitchen, living room, nice clean room, housekeeping, all on the main avenue no more than a 10 minute walk from the beach. A comparable Airbnb was roughly 30% more expensive and usually not in the same locations. Hotels have upped their game and Airbnb is just pointless nowadays.
The consistency with some hotel brands is a good selling point for me.
Sometimes I want a continental breakfast at my stay. Get up early, get some pancakes, hot coffee ready to go with my muffin.
Airbnb sure as hell won’t have that.
Sometimes I want extra towels or perks to go with my stay.
Airbnb sure as hell won’t have that.
Sometimes I want to stay a night and then leave in the morning without having to do a wiping and cleaning of every part of my room.
Airbnb sure as hell won’t have that.
well it's not pointless. It showed the hotels that guest want a kitchen... now hotels are adapting. IMHO it played a crucial role in the market.
Hotels came form a world where only the rich were travelling, and when they did they ate out all the time... I've been using airbnb for a decade because I'd rather pay 2$ and make fried eggs & a bagel in the morning than pay 15$ to eat out.
The amount of hotels offering kitchens will rise, but it's still very low. So as much as airbnb is "dying", it won't be a quick death.
As for Playa, it's a resort town that lives by it's own rules. The vast majority of the town is rentals of one type or another. So the whole hotel vs airbnb is just very different there. In fact i'd say hotels make up a very small portion of the rentals there. The majority can be rented directly from owners either directly or via a myriad of short term real estate agents. (stayed there many times & extended family actually owns multiple condos there, so I know that market)
@@steverogers7601you also can't bring your family of 6,8,10 with you unless you want to rent multiple hotel rooms. I do get the free breakfast thing, but some people vacation with large groups. There's room for both. Airbnb as a company are greedy. They charge host fees but they don't host! All the taxes including hotels are a rip off! I advertise mine on Craigslist, FB, IG and I don't charge fees. Just the per night stay and cleaning. Hotels are a rip off. You're just renting a bed!
@@steverogers7601 It's strange isn't it as BNB stands for bed and breakfast. They shouldn't be allowed to use 'BNB."
If you're renting out a spare room in your home to travellers that's one thing, but if you're renting out whole properties you're a hotel and you should be subject to all the same regulations and taxes as any other hotel or motel.
Exactly this. I've used AirBnB and still do, but I only really rent out the spare rooms for during travel, and it's usually a very fair price... sometimes a finished basement for $50 a night where a hotel in the area would be $100-120
@@MiniDevilDFif you live in the house and only a single thing is bought it's not a hotel
I believe it's because of the way Zoning Laws are set up. I don't recall many jurisdictions having laws against people allowing residences owned by people or LLCs to make money from folk staying there for a few days or weeks etc.
It also depends how long you rent them out. In Wisconsin the motels reimbursed my coworkers that stayed there for months because there is no tax when renting the rooms for month’s. It’s considered a rental or lease. At least that’s what the guys staying there told me.
sooooo true
It's insane. The cleaning fee is more than the actual place, plus they still want you to "clean up" and have instructions for how to organize the place before you leave. Check in at 4, check out at 9... might as well stay in a hotel. It's cheaper and more convenient.
Nobody speaks about how they destroyed the long-term rental market in some countries. The shortage in long-term rental properties created a hike in those rental prices. Now working single professionals can’t afford to live independently.
Ireland is gone to the dogs, record homeless numbers which seemed to disappear during covid when many more homes opened up because nobody was travelling and renting them, and as soon as lockdown ended everyone is back on the street and even more people homeless.
@@craigpardy6204 was that due to rentals or government actions? Australia has a major housing crisis right now too, during covid we didn't, cause the government paid for hotel rooms for all homeless that wanted them, rather than anything relating to actual houses
@@mehere8038 mainly due to rentals, the government had put an eviction ban in place, but as soon as it ended everyone was tossed out again.
Same with hotels but not as significantly.
@@craigpardy6204 That happened in Australia too, a ban on evictions & also rent increases. Actually that's probably also a big factor in our situation now when I think about it, a year or more without rental increases, leading into them being able to justify larger than usual rental increases, due to inflation & extra time between increases all at once & that of course impacting a lot of people all at once, which in turn rolls the problem on, with those people then looking for housing & so other landlords being able to follow & easily find tenants, even at higher costs. We also had various builders go bust over the pandemic, there's a block of townhouses being built next door to me, started just before the pandemic, all sold "off the plan" I actually feel for those people, cause 3 years on, those townhouses are still basically just concrete slabs. Was nice to have peace from construction work during the pandemic, but imagine being those people & having already paid for their new homes, only to have the builders go bust & finally new ones found, but now more expensive to build, due to inflation & STILL forking out for rent while waiting & still in the rental market while waiting too, therefore putting more pressure on that rental market & pushing prices up for everyone.
Perfect storm really, isn't it
Cleaning a property is a dealbreaker for me. I am not a messy person or a messy traveler, and I've never trashed a room or any accommodation for the simple reason that I'd hate to be the cleaning people who have to pick up after ungrateful slobs. I will not clean my own room, however. That is what I am paying for. I clean my house, I clean my bathroom, even when a dinner guest pisses on the seat. Don't expect me to vacuum and make the bed. That's the hosts job.
Having to clean at the end of your stay is really a bit of a damper. I will gladly pay a bit more to have a holiday accommodation cleaned for me. (This was also true in the days of renting holiday homes from paper catalogues, not all of those included cleaning either.)
As an Airbnb host that charges zero cleaning fees, I agree with you. Guests should never be asked to clean. And thankfully my guests are reasonable enough not to dump bags of chips in the bed or anything crazy like that, the worst I ever had was a dog pooping in the bed but accidents happen and I didn't charge the guest any extra.
Especially if I have to also pay a hefty cleaning fee. And they didn’t provide dishwasher detergent.
Sad part is, I have actually rented through AirBNB more than once and got the renters agreement afterwards that had many chores listed. Ridiculous to not know up front.
I don’t get this comment. I’ve never been asked to clean. Ever
Most Airbnb renters are massive companies trying to make as much profits as possible. Also i hate the lack of service if you lose your key or need to store your luggage for a bit its fine in a hotel but its a hassle in an airbnb, i also noticed it is not even cheap anymore. I used Airbnb in the past but now tend to go for normal hotels at least you get a consistent proffesional experience there rather than whatever.
Yeah I travel year round and there are places that real estate companies are listing sections of gated communities and they're terrible to go through as a customer. They expect the world from you and provide the absolute bare minimum. Ironically when I had issues with wifi config I was able to solve the problem more quickly with some random grandma in rural Iowa than these braindead corporate property managers.
Not Really, Every place we stayed it was family owned. Very Friendly. Hotels are for sure owned by only a handful of Massive Companies. Hiltons, Marritts etc.. I rather spread the wealth to the common people and stay in short term rentals.
90-95% of Airbnb properties are listed by individual hosts, not massive companies.
The listings may be *managed* by large service companies but the properties are mostly owned by individuals vs. corporations by a large margin.
Airbnb lost me the second they let a host attempt to charge me thousands of dollars for damages I didn't do, that the host HERSELF did to spite me, thinking she was getting back at me for being a "scammer". The scam? Taking her word when she said she was helping me with car trouble out of the kindess of her heart and not because she wanted something back. What I got out of it was a 4k accusation of ruining all the carpet in a room and gouging scratches in her table, burning it up and ruining the enamel on the wood. Guys- I stayed there 10 days barefoot and cooked once. I am a quiet, diligent college student with anxiety, and I was there for an intership-I would never cause thousands in damage that I can't afford, accidentally or on purpose. I paid for therapy after that fucking trip. Never again
Lol therapy over a charge dispute...
@@xlixity you literally don't know me, and why are you making it seem like thats some little thing. When you don't have much to your name and you have an anxiety condition it can put you mentally out of commission.
@@obli475 Are you American?
@@obli475Bro grow some balls. She may have been wrong but being dealing with it like a man would be better in the long run brother. Hit the gym and move on. No one cares about your anxiety.
@@natekonswhat a bunch of a$$holes in this section "bro"
Former Airbnb housekeeper here, the majority of home owners steal the cleaning fee. Leaving half for the housekeeper. They’ve never worked in the hospitality industry and are therefore unprepared mechanically, with inventory, & general standard practices within the industry.
RIP to all the "bros" that took out mortgages and maxed themselves out on debt to buy homes to rent out right before that entire business model dies
If they have been renting for more than a few months they can still sell their houses even with a slight market value decrease, and be profitable. Only those who sell after the a potential crack will get in troubles
@@100tonen even the people who still make a “profit“ are still in trouble. Taxes bills/mortgage suck ass. And no telling how long it takes for those houses to sell and how much they sell them for depending on how bad your debt is you might be forced to rush and sell at a loss. And I imagine that’s their full time job so when it blows up they won’t have much to fall back on
I think I shed a tear or two
@@asonofliberty3662If its just a sell off theyre in for a good deal because of the housing shortage, they're in for hell if they want another property since interst is crazy
Not really because they can still sell the homes for a profit
Talking about a less reliable experience, I would like to share what happened to me this year. I was spending some time in the US this year and wanted to take a day off with my wife. Choose an airbnb for a lot of the reasons cited in the video (having more space, our own kitchen, etc).
Paid for the room, and the host simply never gave us the code to open the door, we got in contact with airnb, which made us wait for 2h to say they couldn't do anything other than refund 20% of the price, that was almost midnight. Now imagine you are in a different country, you book a room, you can't get inside the room and the company that you paid fees to rent the room is saying they aren't responsible for your accommodations. If that happened in the US where we had phone service and 24h customer service and it was an awful experience, imagine if you are traveling somewhere where communication is much harder.
Why take the risk of not having a room again, knowing their policy of leaving you high and dry? Give the host a fee, find me another airbnb, but solve the problem your platform is responsible for.
I'll never use airbnb again
What until your stuff gets stolen while you're staying at AirBnb. It's amazing how many AirBnbs claim to have locks, and then you find out it doesn't and the host and his drug addict flatmates raid the room for valuables when you're in the shower. AirBnbs are a modern form of mugging.
I've got the same experience while traveling to France. Had to spend the rest of the night in a car together with 3 other guys ))))
My experience: in Germany, rental simply didn’t exist, host not reachable,Airbnb not reachable, had to get a room in a crummy hotel.
Airbnb told me that if I had called (which I had tried of course), they would have found me an alternative. Instead they gave me a credit for the next stay. 😮
the expression is "leaving you high and dry"
@bibirennt3691 I also know people who booked an airbnb room months before an international trip (I think it was to Portugal). The week before, the host canceled their reservation. Now try to find a place that fits into your planned budget with a week to your trip
I live in a small (5000 ppl) town in a touristy area. In the 2000s, investors started buying all the houses and flipping them, which priced out first time home buyers. Then in the 2010s these investors switched to turning everything into Airbnb rentals. It’s next to impossible for locals to find a house to buy or even rent now. And the few places available are either newly renovated and incredibly expensive or extremely old and rundown…and still expensive.
Welcome to capitalism. Until we elect other administrators into offices, this will never change.
Similar... certain neighborhoods in Annapolis we're bought up by investors to Airbnb. Some people moved away because it was no longer a neighborhood.
Investors should be forced to sell or penalised for empty properties. Also progressive taxation bands based on the number and types of property they own. Barriers or protections need to be put into place to ensure first time (local) buyers who actually intend to stay in the homes are prioritised.
I'm amazed someone would open an Airbnb in a tourist area 🤔. All first time buyers should be allowed to buy a first home in a tourist area.
The main problems that I have with Airbnb is that they offer pretty much nothing but charge so much money for our rentals. When we encounter issues with home owners, they almost exclusively side with the home owners on almost any issue.
Plus, the fee standardization is very unclear and basically home owners can do whatever they want. I have home owners asking me for money when I check in (even though I have fully paid when I booked), home owners charging extra for cleaning fees (at times cleaning fees can be 70% of the rentals) etc. Besides, when home owners cancel our reservations, they are not required to compensate us with anything but when we cancel our reservations, we have to at least pay some of the money......
The concept can work but Airbnb is too greedy and too sided with home owners, causing them to collapse/.
One thing really killing AirBnB right now is their absurd cleaning and processing fees. You'll see a room for $80 or something but when you actually check put it's like $115. Well I can find a hotel for that price and it's much nicer and more convenient.
And then they still leave you a bad review if you don’t leave the place spotless. They deserve the worst
"You'll see a room for $80 or something but when you actually check put it's like $115. "
That's not the host. Most likely that is the taxes that get taken out for the city or county.
@wayra.sabrina LMAO the hosts review the guests?? Jesus christ the power balance in this market is so backwards.
$80-$115 would be ridiculously cheap. cleaning fees are usually $60-$120 not $25-$35 lol
Never used any short stay and never would. I will stick with hotels thank you
The worst thing about using AirBNB are the insane and arbitrary “cleaning” fees. They often charge up to $300 for a small place. But for some reason, you still have to clean everything and take out the trash. In LA, $300 gets you two maids for like 4 hours. Those places are never that clean.
Simple : don't book Airbnbs with such fees. Problem solved.
yes i'd get a list of chores ( A LOT!) which would take a good hour to do when i wanted to just get out and on with my day or to the airport or whatever AND they would charge me $100 for cleaning!
The concept only ever worked back when it was people that genuinely had a spare room in the first place, and enough spare time, that it made sense to allow people to hire it out.
It was doomed the moment the investors and entrepreneurs got hold of it - mortgaging properties specifically for rentals, or turfing out permanent renters in favour of short term.
We used to always get an Airbnb for our California Disney trips with two families. A few years ago it was very worth it. Now with the prices waaaay more than they used to be, cleaning fees, having to clean up everything yourself (essentially the make the renters housekeepers), a hotel is way convenient and cheaper.
Where do you travel now? Disney is unaffordable on its own!
Air bnb is fine in places where hotels aren’t as viable an option, but in any modern big city it’s just not worth the cost, hassle and uncertainty when a hotel room is often better located, simpler, and can be more cost efficient.
Yep especially with growing popualtion in cities. In ny there was more airbnb then long term rental apartments and since homelessness is bad already the incoming migrants made the situation even more dire for actual homes. So it was easy descision to make in my eyes
Yes, this is the correct take. The Airbnb market isn't going anywhere, it's just not as good an option in cities as it used to be.
@@andergarcia4953 NYC Airbnbs are terrible too. I have no idea why anyone would choose to live in New York it's just so expensive and you end up living in a shoebox with no AC with 4 other random people. Fuuuck that.
I find it the other way around. Airbnbs and short term rentals are much easier and more flexible to your needs. They are also in much better locations in cities. We had the Elfin Tower right outside our bedroom and living room windows. At 1/5th the price of the hotels. You can not beat that! Plus they gave us taste of their foods, free coffee and drinks there as well. So much better!
Yep. Use both to your advantage. People who only say one or the other is better aren't serious users of hotels or airbnbs. So many factors depending on the trip, place, number of people, length of stay, cooking options, parking, etc. I use hotels and airbnbs at my disposal. One is not better than the other.
As a homeowner I am glad to see this industry crumble. It may cause my house's value to stop rising, but that's ok. I'm sick of seeing people who work hard be unable to buy a house because they are always underbid buy a scummy renter. I've had many apartments and roommates over the years who I treated fairly charging a fixed amount no matter what that represented as close to 50% of the bills as possible. I've always felt in the pit of my gut that if you invest in something just to take advantage of people who are less fortunate, then you're going to lose in the end. So ya I can't wait to see all these investors forced to sell their homes to families who need them.
Glad to see people prioritizing the good of their fellow man over their own self interest. Stay cool❤
Yes this is why I stopped using them and I’m not even a homeowner
In the end it's the same damn greed that always ruin it for everybody. Airbnb's original idea was great. It was supposed to create more options, thereby reducing prices, and more variety. I mean, being able to stay in people's houses open up a whole world of experiences compardd to being able to stay only in hotels. And indeed in the beginning it was cheaper and more affordable. But once the greedy people realize it's a great source of income, rather than a supplemental income, that's when things become rotten. It's quite sad really. But I have to be on the side of regular people being able to afford houses, and afford long term rentals. Airbnb unfortunately has to be regulated.
@@sarsaparillasunset3873 Only problem is if I have to get a damn business license and go through a mountain of red tape to rent my place out once, then I'm just not gonna do it. It's not worth the hassle. Since that's going to be the case for most home owners, it's only going to make supply plummet, and therefore demand for home rentals and hotels will skyrocket. That's why regulation is a bad idea. If Airbnb gets greedy, then a 100 other clone companies will step in and ensure the home renters make it cheaper by their rules, And people will use those other companies because they see cheaper rates, and thus demand for airbnb will plummet. No need for government to be involved.
bless your heart, may nothing but good things come to you ❤ you're so kind 😊
The rules in an Airbnb we stayed at recently in Seville included the threat of being "immediately expunged" if the neighbours complained about any noise. Yet the same neighbours
walked past our door every night after 1.00am making enough noise to wake us up. Yet we had no authority to "expunge" them. That rule really pissed me off.
So why did you stay there?
The only horrible guests I've ever had were from the UK. Neighbours?
P)p
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
I once stayed at an Airbnb that wanted you to sweep the floors, wash the dishes, and start a load of laundry. There were also signs on just about every single surface telling you what you could and could not do. One of them said “no shoes,“ and within an hour the bottoms of our socks had turned black. There were signs on top of the toilet tank, on the fridge door, the sliding door to the back deck, the fireplace, the inside and outside of the front door, and next to the sinks in the bathroom. that was the final nail in the coffin for me.
Yikes. That sounds like a nightmare.
That seem to be American thing. We rented a cottage called bear house or so in ash fork. They charged 30 dollars cleaning fee and left a horrible rating because we didn't clean dishes or take out the trash. It's in the middle of the bush!
Had a similar experience here in Colorado that was advertised as quaint and lovely hosts, etc. The instant we arrived, we had to remove our shoes and wear Crocks ! Also, no food or drinks inside our rooms not even water! I'm also done with air bnb.
LOL. Damn!
@@gigi9301 i'll never understand why Americans wear shoes inside the house, do you sweep and mop daily?
"The rent of land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take; but to what the farmer can afford to give." - Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, Book I, Chapter XI "Of the Rent of Land"
So basically, if you have and the others don't you can rob them blind?
@@Elimbi1 Yep, it's called "rent seeking" and it means the landlord can extract a large amount of money for adding no value. Like how it's become a growing trend with airbnbs to charge a cleaning fee and then also request the guests to do their own cleaning- a charge for no value added.
Land value tax now!
@@ChrMuslimThor Georgists Represent!
Community land trusts are also an acceptable solution.
Henry George figured out the only true way to design an economically fairly under a democracy. The value of natural resources, especially the land, is the right of all, and thus you must pay a fair tax, the fair market value, if you wish to monopolize it. No other tax should be levied: the product of mans labor should be solely his own.
I did Airbnb once and it was NASTY!!!!! The moment we got there, I saw so many horror stories that I knew I needed to film and take pics before I entered and I’m glad I did. The bathroom was disgusting, the beds were slept in and the sheets were YELLOW!!!! The towels were used and honestly it scared me enough to leave and get a hotel. I’m never using an Airbnb ever again.
I was a early adopter, along with uber/lyft, on a trip with friends they couldn't believe that we rented a private house for a few days and I could call a cheap taxi from my phone, it made our trip very affordable. Now a days hotels are usually cheaper with all the extra Airbnb fees now
I had a horrible experience when my Christmas booking in Spain (booked about a year in advance) was suddenly cancelled by the host in October. AirBNB offered $50 (it cost me about 3 times more than the original booking to get accomodation so close to the holiday season. There is no responsibility.
that is the problem with all of the modern tech services like airbnb, uber, etc. the customer is completely at the host/driver's mercy, they can cancel on you whenever they want with no penalty and leave you high and dry. these services are just totally unreliable and the reason why they are not profitable and will never be.
@@stagglee it's because the people using AirBnB are not the relevant customer, the AirBnB shareholder is.
Actually, I feel completely gross putting my feet on someone else's rug. Sleeping on someone else's bed where they have sex (although hotels are the same, but still), but I totally understand the American perspective. Hotels are so unbelievably expensive in America, and the rooms are subpar compared to the continent of Asia and what they provide. A 5-star hotel in Bangkok is 100-130$ -- that same hotel in America would be 500-1000. Just unacceptable. So, DON'T TRAVEL TO AMERICA! LMFAO
@@stagglee Exactly. It is the nature of these disruptive business models to disregard good practice, rules and standards that were put up in the traditional business models for good reasons. As a customer you're completely dependant of a company you often can't even reach by phone. You have to write emails that are responded by bots or underpaid random service ppl, often not working out in your favor. Because for said company it is no problem. That's the price that comes with the underregulation and anarchist way of the disruptive business models. That being said so far I didn't have any bad experience with AirBnB hosts or the platform so far. The opposite is the case.
Just like any Hotel if they shut down business. You wouldn't get any compensation either.
Funny enough I think Airbnb actually made my preferred hotels significantly better and cheaper. All the sudden the prices dropped and the service quality went way up. Love you Holiday Inn!😅❤
Holiday Inn and Courtyard are the only ok hotels to go to in mainland USA. To pay $250 for a simply room is insulting in the USA. Just embarrassing
That is an interesting effect of all this.
I’m going to Disney next year. Got a hotel room, air bnb didn’t cross my mind because of how bad their image has gotten. Great video.
I live in a beautiful, small historic town in southwest England. I’d love to be able to buy a small house here but every property that is perfect for me that comes onto the market is snapped up by a rich Londoner to be an Airbnb investment. It’s now affecting the permanent population with souring property prices and a lack of long term rental properties. I’m lucky I rented my flat when I did, and it looks like I’ll be renting for a long time to come.
you are lucky, in Australia people are facing MASSIVE rent increases, to the point that they are forced out, so that their homes can be turned into airbnb's. There's been numerous reddit posts about it, with people finding rentals such as $400 per week to live in a garage "toilet & shower access may be possible with negotiation on conditions of use & cost" & people advertising condemed buildings for rent, advising they will offer them "rent free for 6 months if you do the required work to get the property up to code" & other similar ones, cause the rental situation is so bad
It just gets me so upset that the community around me is struggling, Airbnb homes took away homes from the community. I get it some people want to make a bag but, it’s wrong when it literally affects families. I want to buy a home in my town, but I swear I’ve seen “Airbnb ready” so often it’s sickening. It’s a home for people to live in.
Air BnB destroyed the village I grew up in. Outside of school holidays, every single property is empty. Due to there being no permanent population anymore, the school, church, pub and shops have all closed. They were replaced by an Air BnB office…
Realtors are parasites, and the real estate "market" is evil.
Housing is a human right, not a privilege.
in my city in Australia there is a rental crisis with not enough housing for the amount of people applying. You see apartment buildings with 50 lockboxes outside. It makes me so mad.
I am considering having to live in a caravan park. People are having to live in places meant for tourists because they are taking our proper housing.
Politicians all have investment properties so they are happy with the status quo
Yes. Its spread to Mexico too. Mexicans are becoming homeless because of this.
Where did this happen?
I was recently in a hotel in Geneva which had a shared kitchen, hostel style. In a city where restaurants tend to be fairly expensive, that´s a huge benefit for many travellers, with almost no downside to the hotel (it only served breakfast). If more hotels implement simple quality of life solutions like this, they become really competitive with AirBnBs.
We had an Airbnb host try to charge us towels we didn’t even use saying there were stains, luckily I had taken photos of everything as soon as we arrived. Used that against her and she tried charging us more lolol
What gets me is charging me a cleaning fee each night I stay, even if the place isn't cleaned during those nights.
I actually did like the aspect of staying in a bedroom rented out by someone who still lived there. I've stayed in some amazing AirBNBs that way - an attic in Roanoke VA, a 17th century farm house in Massachusetts, a converted backyard garage in Petaluma, CA. Those hosts were all excellent folks who gave us great restaurant recommendations and a lovely experience at a reasonable price. But with the prices now reaching hundreds of dollars a night, I'd rather just stay in a Super 8 for $60 and have a place to shower and sleep and bring my own soap.
exactly. its no longer what it was sadly. greed took over. they want as much as hotels now plus you clean and get charged to "clean"-i mean hell these places all i moved were the sheets, and im paying you 60 dollars for cleaning? there went the savings on my 3 night stay. I lost my phone in mexico, i had an airbnb we were leaving for another down the coast. airbnb wouldnt help me with anything, they wanted to send a code to my phone, THAT I LOST. I stya on hostels whenever possible. Im traveling for the area and experiences, not to be plush comfortable as if i were home. whats the sense!
@@brycecolwell4304 When you say "they want as much as hotels now", please understand that it's not Airbnb that asks these prices, it's the hosts. People, deep down, are greedy and uncaring, and don't give two fucks about the rental stock shortage that their Airbnb listings create. If Airbnb and Stayz disappeared overnight, approximately 200,000 houses would re-enter the rental market across Australia, which would effectively triple our current vacancy rate which is currently sitting at an absolutely diabolical 1.2%... Turn up to any rental inspection in Melbourne and Sydney at the moment, and you'll see anywhere from 50-80 people inspecting the house over the course of 6 ten-minute slots (within a single hour) the realtor gives prospective renters to check out the whole house. Over a week, close to 1,000 people will inspect every single rental, many of whom will begin bidding up the price of rent to secure their place.
@@brycecolwell4304GIRTHY HOGG WHIPPED OUT IN A HOTTUB
@@michaeldoran4367 huh?
$60/night is a good way to end up with bed bugs. No thanks.
As someone who owns a cleaning company that specializes in short-term rental services. I would chose a decent hotel 9/10 times!! The issue is slum lords who use Arbitrage to acquire properties and the refuse to pay a decent wage to cleaners or put any money into the actual property. It blows my mind that people pay to stay in some of these places.
so why are you cleaning for them? what is your real problem and how would you solve it? do you own any str?
I don't have a problem, lol it's just frustrating dealings with slum lords. I solved it by eliminating the stress of our hosts and property manager by being a one-stop shop for everything supplies, linens ,laundry, trash service, lawn care, maintenance, etc, instead of just cleaning. STR are investments, and there are entire property management companies dedicated to acquiring properties and managing them, so by eliminating their stress, my companies get paid by providing all of the above services that I mentioned. We spend $0 on marketing, and they add about 4-6 properties a month to our portfolio.
I live and work in a popular airbnb market and it’s worth noting that the buying and selling of the airbnb properties rocked the real estate market. Inflated numbers, improper calculations, high unrealistic projections, etc all added to the storm of rising prices and high rentals as tenants started to arbitrage
I used to love Air BnB 10 years ago and would use it frequently but share the sentiment here. Only using it now for extreme emergencies since hotels have become cheaper than airbnb and indeed some of the expectations of hosts has become rridiculous in addition to making renting a nightmare in may places for people who cannot affor those homes anymore. It was fun while it lasted.
The final nail for us was a host telling us to leave the place as clean as we found it even though she charged a cleaning fee.
But “as clean as you found it” doesn’t mean you actually cleaned it. It means you picked up after yourself. I am a host even if you left it as clean as you found it still would have to be actually cleaned with disinfectant and treatment, like the toilets and the toilet bowl, refrigerator, microwave, toaster, coffee maker, oven, stove top, sinks/faucets, door knobs, food and table/counter surfaces, dishes and putting them away, towels and bedding have to be washed and replaced. Also a fresh toilet paper, trash bags. Even if a guest left the place “just like you found it” I would still have to spend a minimum of 3 hours actually cleaning it. Just saying most guests don’t know how work it actually is to make a place feel “new” for the next people (if you’re complaint in following the health and safety guidelines for operating a short term rental). I know many hosts skimp on the law and don’t clean like they should, but do most hotels. I haven’t found an actually clean hotel in a long time and we mostly stay in hotels ourselves.
@@itshadouken then your “cleaning fee” should be incorporated into the regular renting price, or called “disinfection fee”. Normally fees are for extra services. You will agree that guests feel cheated when they do the cleaning themselves to avoid paying the cleaning fee only to be told that fee is mandatory.
@@pansepot1490 Nope, it should not because it’s a different activity so it’s taxed as an expense not as revenue. First time eh? You are basically saying there should be no fees or taxes ever but there are for keeping track of what’s being billed for what. The nightly rate is pure revenue but cleaning is an expense on my revenue. So when you file taxes those fees are separate. Hotels don’t have to do this because they’re cleaning staff is hourly. When you manage just 1-3 STRs and do most of the cleaning yourself then that’s how it needs to be done and that’s why it’s done the way it is.
@@itshadouken As a host...you made money...so clean the place and don't complain.
"fresh toilet paper, trash bags" really? 😨🤣🤣 Give it up!
@@pansepot1490 Cleaning is a lot more work than just disinfecting. So, if your cleaning fee is $100 and your nightly rate is $80 then with your genius plan how would that be included in the nightly rate? 1 night would be $180, 2 nights $130, 3 nights $113… 7 nights $94 per night. So basically there no way to give someone accurate nightly rates in your genius plan.
I paid for cleaning fees and yet still was asked to strip the bed sheets and wash them before leaving 😂 that was… unique.
I hope you refused it.
i mean that was on you. the host cant make you do shit and you could take that up with airbnb
The host ask for that to show you that your bed sheets were clean also, dont you get it?! Silly you
Just say that you did it lol
the host asked me to leave a 5 star reviews and he said he will do the same but i ignore him then i get a bad review. I cleaned the apartment very well just left a little bit litter near the door because no tool t, after that no host would accept my request lol
I stay in hotels/motels when I travel. It's so much better than staying in an Airbnb. The room is cleaned once a day, fresh towels, and they make the bed for you. Many hotels have valet parking which is nice as well.
The thing that made this a real problem was when large apartment complexes in large cities were slowly becoming mega-Airb&b's -- every time someone moved out, the landlord turned the empty unit into an Airb&b. Over a few years all the units that were zoned and taxed as residential property were turning into short-term rentals. The landlords loved it because in one month they could make as much as 4x usual rent. But it seriously depleted housing for actual renters and/or priced them out of the market. This can easily lead to a spike in homelessness. Not only that, but buildings zoned and taxed as hotels pay higher fees than residential rentals. So the landlords were actually not paying their due fees for being short-term rentals. Bottom line: A good idea is often ruined by abusive users.
Following the path of most good investments:
1) Founders and early adopters clean up on profits and make the most money as it moves to main stream.
2) Early main stream folks make good profit, but decreasing over time
3) Late to market bag holders who got in during the peak/start of decline have increasing losses.
Yup, that about sums it up right there.
yup
Don’t forget those selling courses on these markets for strategies that don’t work anymore but they will try to convince otherwise
As an owner of a single property, it will never be a loss proposition as long as I have any revenue at all...
Bull trap
I stayed at an airbnb that advertised the room as 119.00, but there was the 3% tax on top of the local taxes and a 60.00 cleaning fee on top of that. I compared that with my recent stay at the Marriott, and it was $60 cheaper to stay at the hotel. The airbnb only offered a kitchen as a difference, but I had to do the dishes after. Uber eats is less painful and tedious. I am strictly back to hotels.
Yeah it sucks when you use a kitchen then the kitchen won't wash its own dishes.
@@plurz215 your sarcasm game is strong.
One impression I've gotten from the video is that the "short-term rental bubble" has burst because the investor-owners using Airbnb are essentially having to "play the same game" as (i.e. directly compete with) established hotel/motel chains. The budget chains (and rival short-term rental services) can often undercut on price, while the higher-end chains can outcompete on amenities, reputation and the general perception of being "more honest" about pricing (no "cleaning fees" and demands on outgoing guests).
Especially considering certain local governments and homeowner associations are now cracking down on these things, I expect that it will only be a matter of time before the investor-owners are mostly out of business and what's left will be the "share a room with a local" group Airbnb pushes so heavily.
@@plurz215yeah is sucks when they charge cleaning fee and expect you to clean anyway.
I think you nailed it. In expensive locations you can save a lot by cooking whichever meals are not social engagements, so a kitchen can be a big plus, and worth the effort to keep it relatively clean as you go along. But if there's a hefty cleaning fee at the end that pretty much would defeat the purpose.
The short-term vacation rental business has devastated the housing market where I live (a tourist area). Almost all of the entry level homes are snatched up as soon as they hit the market. There are literally NO houses for the blue-collar worker or even middle class families to buy.
A primary residence isn't supposed to be a corporate for profit anyway. It just completely disrupts the real estate for working citizens for the sake of foreign business. And tourists who are supposed to be in hotels and motels anyway! smh So not only did make a big chaotic mess for citizens but also for the local tourism industry. I'm happy that the government is finally seeing all these shenanigans and starting to take action.
Compared it to nice hotels on the last trip I took with my kids and the hotels were cheaper and significantly nicer. I added everything up and saved over 400 by staying at a hilton. It was crazy to me how the offerings on airbnb were so high for crappy old houses with new paint and zero amenities.
They had no toilets showers or sinks?
As a northern Minnesotan this is an absolute win. Im so sick of being priced out of homes in my area because of short term rentals.
Northern Minnesota here as well. I've been looking at real estate and many, especially lake hmes listings state that they have AB&B listings that you get if you buy the place. What if I just want the place to luve? What happens to the listings?
Real estate has doubled in the last couple of years here in lake country.
@@seameology my favorite is some of these people have started to sell slowly and they cant get what they want. Rural mn is gonna be a bloodbath due to airbnb. But that works out for any locals.
@@n3rdst0rm The real question is, who is vacationing in Minnesota?
@@UpYourArsenal fr.
Local regulatory changes on AirBnB drove a lot of this. Really a bad idea, harmful to resorts, harmful to long-term residents, harmful to almost anyone except a seasonal property owner looking to sell.
The last straw is asking guests to clean up. Landlords just arent cut out for the hospitality industry.
Tried it once and it was a nightmare. The house STANK and the owners never left and got into an argument at 2 in the morning. Stay at a hotel.
I worked for a airbnb rent property company who had hundreds of houses all over texas, outsource guest communication from the Philippines.. the whole thing was wild .the amount of houses that would sit empty and they would pretend to rent out just so they wouldnt get in trouble with airbnb. I got laid off a month after being hired due to them not having good sales. Guess it was a blessing in disguise
And people wonder why there is a global housing shortage. You can thank companies like Airbnb for hogging all of the supply.
What a dubious way to make money..
I think a housing crash will happen because all those people who bought homes over asking price, although it was at a low interest rate, they are over their heads. They have no equity if the housing prices continue to go down, and if for whatever reason they cannot afford the house anymore and it goes into foreclosure because even if they try to sell, they will not make any money. I think this will happen to a lot of people especially with the massive layoff predicted for the future and the cost of living rising at a high speed.
For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
You are right! I’ve diversified my $150K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $330k in net profit across high dividend yield stocks, ETF and bonds.
@@TomD226 Do you mind sharing info on the adviser who assisted you?
@lowcostfresh2266 Actually, I'm not sure if I'm allowed to mention this, but I'd recommend looking up Laurel Dell Sroufe because she was a big deal in 2020. She manages my portfolio and serves as both my coach and my manager.
@@TomD226 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
another thing is that hotels are usually in central locations close to other amenities restaurants and event venues. Air bnbs are sometimes all the way out in the suburbs so you have to commute everywhere instead of being within walking or a cheap uber ride distance
Everything appealing about AirBNBs has pretty much evaporated over the last few years for me. I went looking for accommodations for a five-day stay and the AirBNBs were just as expensive, if not moreso, than getting a hotel room. For reference, my hotel is going to cost me $610 after taxes, and is located near the city center and right next to the airport. The cheapest AirBNB in that same area costs $650 after fees and taxes, is far out in the boonies, and anything even remotely nice or conveniently located is easily 25-50% more than that.
Not that I was going to really pick an AirBNB anyway; My last stay in one had a $90 cleaning fee and I was still told I had to wash the dishes, clean the floors, and wash the sheets/linens/pillowcases. That chapped my ass so hard I swore off AirBNB right then and there.
I use Airbnb for when we travel as a family, but for solo/couple trips anymore I get a hotel room. The fees and cleaning expectations are getting ridiculous.
Campgrounds are cheaper than even hotels. The core issue: paid showers and the only bathrooms are stalls.
This is what stops me from using airbnb. Seeing all the places that charge a ridiculous amount for a cleaning fee, then they expect you to still clean everything yourself.
@@razorswcmy mum hosts an Airbnb and the cleaning fee doesn't even go to the host. The host doesn't set it either, it's just Airbnb grabbing cash.
We were in one where they asked you to dry the shower walls after each use. That was silly to me.
@Ollie5 Thanks for the info. Yikes that is horrible and makes such a fee even worse. Makes me never want to use airbnb if they have bogus fees.
I got sick of the hassles when you can just check in to your hotel without the 10 codes, 2 different keys to get in, 15 rules of the house. Most of the listings are inaccurate and overpriced with too many rules. Then I realized they started listing properties to only let you check in after 4pm and check out at 10am. The hosts became GREEDY.
About the check-in and check-out times you mentioned--Hosts have to do a much more time-consuming cleaning process because of COVID regulations, so the down-time between checkout and check-in has gotten longer. The room has to be aired out prior to cleaning, for the safety of the staff, then cleaned and then surfaces sprayed again and left to dry out and the room to air out again, for the safety of the guest. Also, the previous guest may have left a really huge mess and it can take hours of work to deal with it, especially in cases of pets, parties, smokers, perfume sprayers, messy cooks, and illness. And, your hosts often are working a regular outside job too, or have to pick up kids at school, etc, so time to clean between guests is needed. If you book the place for more than one night, your next days will all be full days; if you want to check in early or stay late, just book the previous or following day as well, so you can arrive or leave when you want to. It still will cost less than most hotels!
You are coming to the WRONG person for sympathy. LOL Cry me a freaking river. ROFL@@Jl-pm6fp
Actually, I feel completely gross putting my feet on someone else's rug. Sleeping on someone else's bed where they have sex (although hotels are the same, but still), but I totally understand the American perspective. Hotels are so unbelievably expensive in America, and the rooms are subpar compared to the continent of Asia and what they provide. A 5-star hotel in Bangkok is 100-130$ -- that same hotel in America would be 500-1000. Just unacceptable. So, DON'T TRAVEL TO AMERICA! LMFAO@@Jl-pm6fp
and lazy
I am really impressed! Your programs are not only interesting but you are also one of the selected few that knows when to use ITS and IT'S in the right way
Over the years, I probably rented at least 50 AirBnB places. When I started, it was an inexpensive alternative couch-surfing experience. As more units became available, I learned to read the listings and reviews carefully because many were less than desirable properties just out to make a buck. I found 4 out of 5 places were good… a couple really good, and several pretty awful (located over a bar, dirty, lumpy bed, etc). A few were extraordinarily wonderful. Overall, in those early years, I enjoyed using the service. That was until my last experience where I rented a place in Long Beach, CA. The apartment was one of those places offering far less than it delivered. In particular, the bedroom/sitting area was raised up about 6 inches above the entry way and the adjoining bathroom. This was not mentioned in the listing. In the middle of the night, when I got up to use the restroom, I forgot the 6 inch drop and took a header into the bathroom. I twisted my leg badly and whacked my head on the wall. It was 2 a.m. and I was in severe pain and I had no one on hand to help me. In the end, I had a torn meniscus in my knee and spent my vacation on crutches. Neither Airbnb nor the owner took responsibility in anyway for this situation. Had I known of the odd configuration of this room, which I am sure was not up to code, I would have never rented it. I was left with a ruined vacation and life-long damage to my leg. That’s when I turned away from Airbnb. It takes no responsibility for the safety of it customers.
if you fell over walking groggily and not looking where you are going that is not AirBnb or the host's fault. Yes AirBnb is crap and the fees shitty, but you need to take responsibility for your own actions and look where you are going
what really is bugging me with airbnb is the inconsistency and the surprise that awaits you.I did a roadtrip for two weeks this year in central Europe and tried to get a hotel whenever possible. Well, even though i booked 3 months earlier, for my group of people there was sometimes no other option than airbnb left (apart from spending 2-300$ per night/person in an exclusive hotel). Just let me say: The worst rated hotel was better than any of the airbnbs. They ranged from control freak landlords that put signs next to windows and toilets how to use them and that improper use would account to x amount of fine blahblah, to not mentioning that the flat/house owner has pets (cats) to be specific (very nice for allergic people...) and messy houses (at one we had to enter from the garden door and it was just piles of rubbles laying everywhere (broken chairs/tables, old barbeque, etc.). But the cherry took a flat that was not cleaned and was so nasty we cancelled the apartment and cut the trip 2 days short. Say what you will about hotels, 99% of the time you get a reliable, clean and comfortable stay for the night. With airbnb it is all hit and miss.
that sounds suboptimal
I have so little sympathy for people going bankrupt because they over-levered themselves on short term rentals. Fools were duped into thinking it's easy to own real estate. I love the core concept/idea of the platform but hate what it has become.
me too!!! i wish they will regulate here in my country!!
Agreed. There is just something inherently slimy about profiteering off of property in my opinion. Everyone deserves a home, yet it has been turned into this gross commodity that is effectively creating a modern day feudal class system, of the haves and have nots. Things really need to change. Unfortunately in Australia where this is one of the worst places in the world for real estate, our politicians are all completely invested into the real estate market and wouldn't change a thing..
@@larion2336The reason real estate is such a good "investment" is because it's state endorsed feudalism. When every parcel of land and every individual home is owned by the feudal lords (real estate corporations) nobody will ever be able to buy a house because your just a measly serf that can't outbid a mega corporation
Well as a struggling 80 year old, being able to rent a room out to travelers has helped considerably with my being able to pay my property taxes.@@larion2336
How did they over leverage if the extra property was making extra money for them until the government said at halftime they can determine want they can do with their private property
I airbnb an ADU that is attached to my house. No more than 2 people; they can't have guests; they can park one vehicle only. I have no cleaning fees and I don't put cleaning requirements on them, other than 'respect the property.' It's always booked and it's so quiet that my neighbors don't know that I have an Airbnb. Because guests are short term and I'm on the property, I have specific rules and can cancel their stay if there are any issues with noise, damage, etc.
In contrast, my neighbors across the street rented out their house to a family with a long term lease. Over a year, I watched them trash the house. They stopped making rental payment and my neighbor spent over 10 months trying to evict them. He also had to spent thousands of dollars repairing the interior of the house. These renters in contrast to my Airbnb guests were very disruptive to the our neighborhood.
Watching this, I will always try to 'short term' rent the unit. There is just too much risk with long term renters. The city offers no protections to you or your property in renting to people long term.
biggest issue with airbnb is the "expectation/consistency"... when you go to a branded hotel, you dont have any anxiety prior to arrival, because
the product is known... (similar to mcdonald... people eat there because they know what they are going to get, always consistent)... with airbnb,
the product quality is unknown, adding extra stress to travel, which in itself is already stressful.
I used to be a Trip Case Manager with Airbnb's 3rd party call centers. (24/7 Intouch for those curious) One of my very first calls was helping a landlord relist all of his recently acquired apartment building, the *entire* building, as individual Airbnb locations. The man had went out and purchased a local complex to reopen it as short term airbnb rentals for way more than they were going to have been making renting them out like normal. (assuming they could fill them every night, etc.) Like dude, at that point just go open a hotel and stop taking away local affordable housing from people that need it.
A lot of people want to stay in apartments for the short term rentals not hotels. Mind you short term means anything less than a few months, like three months is also a short term rental really (if you don’t think so try and rent a long-term apartment for a couple of months, good luck). A lot of people don’t want to stay in hotels for weeks and months, they want to stay in apartments. It’s a different experience so you can’t just say “go open a hotel instead”. It’s a different kind of housing.
This is common in a few areas in Greece. Buildings are purchased for the purpose of being turned into Airbnbs, and regular folk are driven out of their homes which they can no longer afford because rent is getting higher.
@@antondubkov Right there is the problem with AirBnB. If it affects the local housing availability for the people who live in the area, then what some AirBnB landlord wants doesn't, and shouldn't matter for shit. Fortunately as this video explains, that is increasingly case. And if some AirBnB landlord loses all of their money because of an obvious cash grab scam, then the world becomes a slightly better place,
@antondubkov its still a problem, however you want to define it
The narket got over saturated with these. Many will switch back to long term rentals.
My final straw was when I lived in Sonoma and the wildfires hit at 3am in 2018. Everyone was fleeing and we had to evacuate 35 horses we were taking care of and ourselves plus our 2 dogs. After moving all the horses from 3am to about 9pm to the Sonoma racetrack we had nowhere to go but our truck and horse trailer. We spent the night sleeping in the trailer with just blankets. There were no hotels as they all had mandatory evacuation so we resorted to trying to find an Airbnb. Not only did all the local airbnbs raise prices, most of them refused anyone with pets regardless knowing people had no where to go. We finally found one place that allowed us to rent but it was an hour and 30min from the racetrack and we had to feed/check on the horses everyday. They charged us $450 a night and we had a BOOK of rules plus they tacked on a huge pet fee. Our dogs are both Australian Shepherds and are highly trained working dogs. They are not wild destructive pets. They required we cleaned the house, washed the sheets, mopped, ect. Which we didn’t mind doing at all, but then got charged a cleaning fee for their maids to come once a week. They only allowed us the rent for 2 weeks then said there were other ppl interested and they wanted to give others an “opportunity” to stay to be “fair”. We luckily had a friend open up their guest house to us and we stayed there for about another month until it was deemed safe by the fire department to go back home. After that I swore I’d never use it again. They literally preyed on people fleeing that had no where to go. All hotels in the surrounding area that weren’t under mandatory evacuation were full too. After that, we packed all our stuff and moved back home to Texas.
Yes sir bnb has affected the housing market, their effect has been very small compared to companies like Zillow who will buy houses off the market sell the house for a little above market value then for some reason every home in that area is worth that little bit more and the cycle continues until you have homes that should be $100k selling for $300-400k
I've never used Air BnB because I had a friend who used it once and their experience turned me off the service completely. They rented what they thought was a 2 bedroom apt to themselves. I showed up with them just to check it out. We were talking in the living room, and to our surprise the owner stepped out of one of the bedrooms and told us to be quiet. My friend had no idea anyone else would be there. He checked the ad again and it clearly stated that the whole apt. was for rent. He stayed, even though I said he should just eat the cost and get a hotel instead. He and the owner fought over the noise we made, gave each other 1 star, and I told myself I would never take this chance in my life, I'd rather just stay at a hotel.
The damage this app has done in states that don't regulate it is hard to even grasp. Some cities just renting an apartment is way out of touch with reality
I wish it were that simple. I'm in a banned Airbnb city and out costs are still at all time highs. It's the city governments taxes and giving breaks to investors. So the investors can't Airbnb. How housing is bought up to create crappy neglected apartment complexes
And in Canada, and all over the world tbh
@@notoriouswillyb439070? Where do you live, Hawaii?
O it blew my mind in Arizona just 1 company bought 7 rows of Aparment complexes that barely had the foundation set up to turn into exclusively Airbnbs these were like 150 to 200 hundred tenant complexes. When I started digging around with some investors I met people with 2k plus Airbnbs I straight up did not fathom it
Has the app done any more damage than the blackrock's of the world and the large institutional investors and funds buying up thousands of houses and hiking up the prices? Even Zillow got caught with their pants down and they were not in the short-term market. Housing is far more complicated than just airbnb. Government regulations that prevent people from building new units is also a major issues in a lot of cities. If you cannot create new inventory because of zoning, councils, laundry list of permits, then they are also contributing to the problem. Airbnb is just one of many players in a much larger game.
I don't get it. In a 4 star hotel they give you toilet paper and clean towels, they tidy and clean your room for you, you get breakfast, air conditioning, and a mini fridge that they restock for you. Everything's taken care of. Ya know, an actual holiday. Why would you want to go on holiday somewhere where you are basically having the exact same experience as back home, having to make your own food and do the dishes? Doesn't sound like a nice, relaxing holiday to me...
I totally see your point. As a single residence Airbnb owner, we would never ever recommend that a single person, or even a couple for that matter, rent my house. The amenities of a hotel are almost as convenient and the price more affordable for that faction of the general population. That said, you are stuck in a 3-400 hundred square foot space with little to no privacy or character to offer.
Our house is 3 bedrooms in a quiet wooded area, two sunrooms, large kitchen, 17oo hundred square feet, multiple seating areas, firepit and grill, on-site laundry and two blocks from a popular lake destination. It sleeps 10, easily. No hotel offers that. It's just a different experience. And, when two or more families want to make a trip together, cook their own meals instead of ordering expensive and crappy room service, the average price per night is actually LESS than your average chain hotel -- yes, even IF you include the cleaning fee involved.
So, the mileage varies by family, as it should. As a family who owns a single Airbnb, we are looking forward to a reduction of crappy, institutionally run Airbnb's in our market, because we believe there is still a real quality proposition to be had for the right vacationing family. We enjoy communicating with our guests and love getting feedback and positive reviews. So, all of that is to say, it's not completely fair to paint every Airbnb owner with the same brush.
I agre
Paying $25 for a breakfast full of my allergies doesn't sound better than cooking myself.
@@prman9984ok then that's obviously not for you, snowflake lmao
Free hotel breakfast... The bane of the business traveller.
That cleaning fee is insane, especially for short stays. It's only cheaper than hotel if it's multi-family-share. Another big issue is the lack of service when you're there. If anything happens, it'd be very hard to get it fixed quickly - sometimes you might not even be able to report quickly. Just not worth it for most travelers.