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Author: Lily M. Hoffman
Publisher: Routledge
ISBN: 1000197247
Category : Social Science
Languages : en
Pages : 150
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Book Description
How do Airbnb and short-term rentals affect housing and communities? Locating the origins and success of Airbnb in the conditions wrought by the 2008 financial crisis, the authors bring together a diverse body of literature and construct case studies of cities in the US, Australia and Germany to examine the struggles of local authorities to protect their housing and neighborhoods from the increasing professionalization and commercialization of Airbnb. The book argues that the most disruptive impact of Airbnb and short-term rentals has been on housing and neighborhoods in urban centers where housing markets are stressed. Despite its claims, Airbnb has revealed itself as platform capitalism, incentivizing speculation in residential housing. At the heart of this trajectory is its business model and control over access to data. In a first narrative, the authors discuss how Airbnb has institutionalized short-term rentals, consequently removing long-term rentals, contributing to rising rents and changing neighborhood milieus as visitors replace long-term residents. In a second narrative the authors trace the transformation of short-term rentals into a multibillion-dollar hybrid real estate sector promoting a variety of flexible tenure models. While these models provide more options for owners and investors, they have the potential to undermine housing security and exacerbate housing inequality. While the overall effects have been similar across countries and cities, depending on housing systems, local response has varied from less restrictive in Australia to increasingly restrictive in the United States and most restrictive in Germany. Although Airbnb has made some concessions, it has not given any city the data needed to efficiently enforce regulations, making for costly externalities. Written in a clear and direct style, this volume will appeal to students and scholars in Urban Studies, Urban Planning, Housing and Tourism Studies.
Author: Lily M. Hoffman
Publisher: Routledge
ISBN: 1000197247
Category : Social Science
Languages : en
Pages : 150
Get Book Here
Book Description
How do Airbnb and short-term rentals affect housing and communities? Locating the origins and success of Airbnb in the conditions wrought by the 2008 financial crisis, the authors bring together a diverse body of literature and construct case studies of cities in the US, Australia and Germany to examine the struggles of local authorities to protect their housing and neighborhoods from the increasing professionalization and commercialization of Airbnb. The book argues that the most disruptive impact of Airbnb and short-term rentals has been on housing and neighborhoods in urban centers where housing markets are stressed. Despite its claims, Airbnb has revealed itself as platform capitalism, incentivizing speculation in residential housing. At the heart of this trajectory is its business model and control over access to data. In a first narrative, the authors discuss how Airbnb has institutionalized short-term rentals, consequently removing long-term rentals, contributing to rising rents and changing neighborhood milieus as visitors replace long-term residents. In a second narrative the authors trace the transformation of short-term rentals into a multibillion-dollar hybrid real estate sector promoting a variety of flexible tenure models. While these models provide more options for owners and investors, they have the potential to undermine housing security and exacerbate housing inequality. While the overall effects have been similar across countries and cities, depending on housing systems, local response has varied from less restrictive in Australia to increasingly restrictive in the United States and most restrictive in Germany. Although Airbnb has made some concessions, it has not given any city the data needed to efficiently enforce regulations, making for costly externalities. Written in a clear and direct style, this volume will appeal to students and scholars in Urban Studies, Urban Planning, Housing and Tourism Studies.
Author: Avery Carl
Publisher: Biggerpockets Publishing, LLC
ISBN: 9781947200449
Category : Business & Economics
Languages : en
Pages :
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Book Description
From analyzing potential properties to effectively managing your listings, this book is your one-stop resource for making a profit with short-term rentals! Airbnb, Vrbo, and other listing services have become massively popular in recent years--why not tap into the goldmine? Whether you're new to real estate investing or you want to add a new strategy to your growing portfolio, vacation rentals can be an extremely lucrative way to add an extra income stream--but only if you acquire and manage your properties correctly. Traditional rental properties are a great way to create wealth, but short-term rentals can bring in five times more cash flow than their long-term rental counterparts. Avery Carl, CEO and Founder of the Short Term Shop, will show you how to identify, acquire, and manage a short-term rental from anywhere in the country, plus how to avoid common pitfalls and overcome limitations that keep many would-be investors from ever getting started! In this book, you'll learn how to: Identify the best markets for short-term rental investing Analyze the potential income and profitability of a short-term rental property Self-manage a short-term rental right from your smartphone Build a local boots-on-the-ground team for an out-of-state investment Automate your self-management systems Use the income from short-term rentals to scale your investment portfolio
Author: Hans Koster
Publisher:
ISBN:
Category : Externalities (Economics)
Languages : en
Pages : 0
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Book Description
Online short-term housing rental platforms such as Airbnb have grown spectacularly in recent years. We focus on Santa Monica, surrounded by the City of Los Angeles, which has severely restricted short-term rentals of entire homes and apartments. We apply a panel regression-discontinuity design around Santa Monica's border. Its 2015 Home Sharing Ordinance (HSO) reduced listings by 70% and prices of single-family homes by 5.5%, with stronger effects in locations attractive to tourists. We do not find that the HSO affected prices of apartments, which points to the presence of substantial negative external effects of short-term rentals within apartment buildings. These results explain why particularly cities with a high share of renters and apartments tend to oppose Airbnb.
Author: Daniel Mick
Publisher:
ISBN:
Category :
Languages : en
Pages : 61
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Book Description
Beginning in the mid-2000s, a new economic model began to emerge where transactions for good and services take place largely online and allow a decentralized peer-to-peer marketplace. This new Sharing Economy has disrupted countless traditional industries and has challenged businesses and governments to decide how best to respond. Short-term rentals are one of the most well-known and controversial industries of the sharing economy. Short-term rental users connect with each other online for the purpose of renting all or a portion of a dwelling unit for short periods of time, generally fewer than 30 days. In many parts of the country, this activity is unlawful as it creates de facto hotels in residentially zoned communities. This activity is often associated with a drop in the availability of housing, a rise in housing prices, negative impacts on the traditional hospitality industry, and disruptions to the quality-of-life of the permanent residents that live nearby these units. The challenge for cities is how to properly regulate this activity to minimize the negative consequences while allowing residents to take advantage of the benefits that come with short-term rentals. West Hollywood is a small city in the Greater Los Angeles Metropolitan Area that has seen a sharp rise in the number of short-term rentals operating within and around its borders. This research proposal provides a brief background on housing and the sharing economy and reviews the actual effects that short-term rentals have had on West Hollywood's hospitality and long-term housing markets. It also suggests a method by which the West Hollywood City Council can survey its residents to gain insight into how the community actually feels about short-term rentals. This information will provide critical data that allows policies to be created that address the specific wishes of the community, rather than just addressing the concerns of the most vocal and passionate constituents.
Author: Nestor Garza
Publisher:
ISBN:
Category :
Languages : en
Pages : 20
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Book Description
The report investigates the impacts of short-term rental services (STRs), such as Airbnb, Homeaway, etc., on the residential housing market and hotel/accommodation market in the city of Seattle, Washington. Our primary goal is to examine critiques against STRs to assess their empirical validity in a single case study. The paper utilizes data on from the American Housing Survey and Federal Financial Examination Council's Home Mortgage Disclosure Act Aggregate Reports as well as proprietary data from STR providers and the hotel industry for the city. First, we conduct simple Pearson's Product-Moment Correlation tests of STR listings with owner-occupancy, investment mortgage activity, and unit vacancy. We find positive correlation between STRs and owner-occupancy and find negative correlation between STRs and investment mortgage activity and unit vacancy. Second, we examine the spatial distribution of STR listings and their spatial pricing characteristics, comparing them with those of the local hotel market in an attempt to detect 'demand creation' versus demand 'market capture'. We use a Spatially Auto Regressive model to produce a standardized spatial dependence parameter, estimating both Full Maximum Likelihood and Bootstrap Errors for both the independent full samples of local block groups and the coincident small samples. In the second set of tests, we find a low degree of spatial coincidence, a greater degree of spatial diversity in STR listings (compared to hotels), and no conclusive evidence of market capture by STRs. Our conclusion is a clear lack of evidence supporting the critiques of STRs in the Seattle market. We argue there is initial evidence that STRs may support home ownership and that they serve fundamentally different segments of the accommodation market.
Author: Hui Li
Publisher:
ISBN:
Category :
Languages : en
Pages : 45
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Book Description
This paper examines the impact of Airbnb on the local rental housing market. Airbnb provides landlords an alternative opportunity to rent to short-term tourists, potentially causing some landlords to switch from long-term rentals, thereby affecting rental housing supply and affordability. Despite recent government regulations to address this concern, it remains unclear whether and what types of properties are switching. Combining Airbnb and American Housing Survey data, we estimate a structural model of property owners' decisions and conduct counterfactual analyses to evaluate various regulations. We find that Airbnb mildly cannibalizes long-term rental supply. Cities where Airbnb is more popular experience a larger reduction in rental supply; however, these cities do not necessarily have a larger percentage of switchers. Interestingly, we find that affordable units are the major sources of both the negative and positive impacts of Airbnb, as they see a larger rental supply reduction and a larger market expansion effect. Although Airbnb harms local renters by reducing affordable rental supply, it also serves as a valuable income source for local hosts with affordable units. Policy makers need to trade off between local renters' affordable housing concerns and local economically disadvantaged hosts' income source needs. The counterfactual results suggest that imposing a linear tax is more desirable than limiting the number of days a property can be listed. We propose a new convex tax and show that it outperforms existing policies in terms of reducing cannibalization and alleviating social inequality. Finally, Airbnb and rent control can exacerbate each other's negative impacts.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 46
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Book Description
In recent years, short-term home rental companies such as Airbnb and Vacation Rentals by Owner (VRBO) have grown in popularity throughout the United States and the world. The lack of regulation of this rapid growth, which stemmed from the legal grey area these rentals fall under, caused some states to adopt specific regulatory policies. These regulatory policies attempt to better monitor this sector, to tax rental earnings, and to reduce perceived negative externalities to this new market. This thesis researches the benefits and costs that short-term rentals (STRs) provide to cities and the regulatory implications on the growing rental market. Using census data along with a STR regulatory index developed by the R Street Institute that measure city-level regulations, this paper presents evidence that city-level regulations of STRs were largely unpredictable. Although no widespread common factors explain regulatory decisions, local sales tax rates, residents' political policy preferences, city population age, and owner-occupied median home values were found to have some influence in explaining variations among cities in short-term rental regulation.
Author: Marie R. Ferguson
Publisher: How to Rent by Owner
ISBN: 1419628119
Category : Rental housing
Languages : en
Pages : 77
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Book Description
'BREAKING ALL THE RULES: HOW TO RENT YOUR VACATION HOME' has Everything You Need To Know for Preparing, Managing, Pricing, Tracking and Organizing Your Rentals, Advertising, Handling Inquiries, Screening Potential Renters, and Maintaining your Vacation Rental Property. -Turn Your Vacation Home into a Valuable Asset -Create Most Desirable Vacation Rental in your Area -Get Higher Rental Income -Less Vacancies -Qualified Tenants -Guaranteed to learn how to make the most of your vacation rental.
Author: Duarte Gonçalves
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We estimate the causal impact of a 2018 zoning reform that banned new short-term rental registries in some parts of Lisbon. The short-term rental licence expires when the house is sold, hence the ban removes the option value of short-term renting a property. We rely on two administrative data sets on short-term rental registries and real estate transactions, complemented with Airbnb data on listings and prices. We employ a difference-in-differences estimation taking advantage of the spatial discontinuity in the ban. We document a spike in newly registered housing units, between the announcement and the implementation of the ban. The reform decreases real estate prices by 8%, mostly in two-bedroom dwellings, for which the price drops 20%. We conclude that heterogeneous effects are key to understanding the backlash against short-term rentals.
Author: Gaston Gilbert
Publisher:
ISBN:
Category :
Languages : en
Pages : 66
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Book Description
Have you been toying with the idea of investing in vacation or short-term rentals for a while and have possibly started, but the initial experience hasn't been so great? And are you looking for a guide that will help you get started with vacation rentals confidently, knowing fully well how to keep your costs low, maximize profits, give your guests an amazing experience, and more? If you've answered YES, keep reading... You Are About To Discover Exactly How To Create A Real Profitable Vacation Rental Business, Avoid Common Pitfalls, And Achieve Impressive Levels Of Success! As more people choose to stay in vacation/short term rentals over hotels and short term booking platforms keep becoming more popular, the time to get into the short term rental business has never been better. Think about it, when the pandemic is over, more than ever, people will want to visit places they have wished to visit, and the trend will continue into the foreseeable future. The fact that you are here means you are already sold to the idea of investing in short term rentals, as you've seen how it can transform ordinary people to 'hotel' owners, accepting guests from all over the world for short term stays in their properties. Perhaps you are here looking for answers to all the questions in your mind... What do you need to understand inside out if you really want to set yourself up for success from the beginning? How do you market your property so you can have a steady stream of guests? How do you increase the chances of guests having a great experience that makes them leave positive reviews? How do you manage the business effortlessly so it does not disrupt your other schedules while ensuring you keep your profits high? How do you keep your costs low and maximize income and profits? If you have these and other related questions, this book is for you, as it covers 6 golden rules that, if implemented well, will ensure you excel at short term rental business. More precisely, you will learn: The things you need to know as you get started in the short term rental space to set your business up for success Some cost items you need to know about regarding vacation rentals and why you should know about them Powerful creative tips on how to keep your expenses low How to maximize your income by applying 5 powerful strategies proven to work How to reduce the burden of managing your short term rental off your shoulders without spending a fortune while at it Effective ways to optimize your property protection plan How to take it further and scale your business Mistakes you should avoid along the way to keep your business going and profitable And much more! Even if you've never invested in anything closely related, this book will teach you everything you need to know to excel at short term rentals. Scroll up and click Buy Now With 1-Click or Buy Now to get started!
