Well....I am a long time Airbnb user and switched back to hotels for the majority of my stays. It's actually cheaper and half the hassle.A little feedback from the ground.
Us too!! Back to trustworthy and cost predictable Holiday Inn Express. Too many bad operators with too high fees / cleaning fees. Just not nice enough location to balance the cost.
I don't use the word hate often, or lightly, but the Airbnb next door has made my life MISERABLE, so I do HATE it. I cannot wait to move. For some time this owner didn't even seek city approval, and submitted a lawsuit to sue me for harassing HIM! Another neighbor and I complained to him because his occupants were partying loudly outside all night long during mid-week. This world has gone completely out of control with disrespect. When cops show up, all the occupants toss their drugs over the fence into my backyard, and for weeks after, the previous occupants go into my backyard to find their drugs that the cops have already confiscated. They do this despite that I stop them, they just continue on to my backyard! It's insane! Different day, different story. I HATE AIRBNB! YOU NEED TO STAY AT A HOTEL! This guy can go to...! People need peace in their homes.
@@TheAlkalineHealer Oh, so you're saying that my only 2 choices are private island or immediately next door to constant chaos with Airbnb? Thank you so much for your brilliant expertise. 🤣I'll keep that in mind.
@@RealSky11 no those aren't the two ONLY options but if you relocate to another house that's next to two long time 40 year + residents, what happens when an investor purchases the property with short term rental intentions after the neighbors pass away? I'm just saying that the acquisitions of short term investments are increasing as time goes on, so it makes it hard to completely escape
@@TheAlkalineHealer The neighboring homes in the price range of the property I’m moving to will NEVER be purchased by Airbnb investors. So no need to concern yourself…
Airbnb raised their fees too. Someone will see let's say $120 a night, then go to checkout and it jumps to freaking $200+ a night! They add up to 21% in fees alone before tax Also the cleaning is backwards. Hotels let you leave without damage and won't charge you, where Airbnb you pay the cleaning fee just to make sure it's clean before you leave or you'll be charged more And it depends on where you live. My occupancy rates are under 30% consistently, sometimes 0%
The affect on local housing markets vary. On Oahu, there already was a huge homeless population of working people, priced out of rent--even educated professionals. So airBnB is just another notch out of inventory, and I rented one originally and it is well beyond local incomes. So that's a metric to consider. How much inventory is available for working class and fixed-income retirees? Then, is airbnb priced for local wages or for tourists?
@@TobyMathis My greatest area of concern for this space is specifically for those who buy a property that doesn't cash flow as a normal rental but can work as a short term rental. Sadly, I don't have any information as to what percentage of the market fall into this category. Other use cases where someone is either listing spare bedrooms as an airBNB unit or offering a home that they already own outright as a short term rental to boost existing income cause me less concern. My concerns are: 1.) Supply is high. a.) I was surprised at the sheer number of airBNB units in my area. b.) Other cities have an even more surprising number of units. 2.) Demand moving forward may not be as high as it has been in recent years due to. a.) end of stimulus money b.) partial resumption of student loan payments c.) Gas prices nearly doubled since 2019 and still rising d.) food prices nearlyl doubled since 2019 and still rising 3.) Considerable legal risk in left leaning states a.) eviction moratoria b.) posible limitations or restrictions on short term rentals is some areas. I think this space /could/ see a sharp drop in revenue generation moving forward if things go badly for the economy, and I think there are plenty of datapoints that lean in that direction. If I had an RV that was just sitting in my driveway, an ADU that wasn't being used, or maybe even a second home that I intended to keep anyway but was empty most of the year, I'd certainly consider using them as a short term rental to generate some cash flow. Any income is better than no income. I don't think I'd be willing to purchase a property specifically with the intention of using it as a short term rental unless I was financially prepared for it to go cashflow negative -at least given the home price vs rents in my area.
I’m looking at renovating an old cabin in the backyard for a summer rental. The expense is mostly sweat and a very low investment of a $2-3k. It’s in a beautiful spot. I did some digging in my area (low traffic, very seasonal) and I’ve seen worse options get traffic for $80/night (before fees) during peak season. Seems outrageous for the shacks people list. Then I looked at the budget motels and they are at $72 lowest. I want to be busy so I can break even by next year minimum on the expense (not the labour). Should I price lower than my competitors? Would 70 be a good number so I could get some traffic from hotels? Thanks for the post. Taking notes
Well....I am a long time Airbnb user and switched back to hotels for the majority of my stays. It's actually cheaper and half the hassle.A little feedback from the ground.
Us too!! Back to trustworthy and cost predictable Holiday Inn Express. Too many bad operators with too high fees / cleaning fees. Just not nice enough location to balance the cost.
I don't use the word hate often, or lightly, but the Airbnb next door has made my life MISERABLE, so I do HATE it. I cannot wait to move. For some time this owner didn't even seek city approval, and submitted a lawsuit to sue me for harassing HIM! Another neighbor and I complained to him because his occupants were partying loudly outside all night long during mid-week. This world has gone completely out of control with disrespect. When cops show up, all the occupants toss their drugs over the fence into my backyard, and for weeks after, the previous occupants go into my backyard to find their drugs that the cops have already confiscated. They do this despite that I stop them, they just continue on to my backyard! It's insane! Different day, different story. I HATE AIRBNB! YOU NEED TO STAY AT A HOTEL! This guy can go to...! People need peace in their homes.
Airbnb isn't going anywhere, no matter where you move to. I suggest that you purchase a private island if you want privacy
@@TheAlkalineHealer Oh, so you're saying that my only 2 choices are private island or immediately next door to constant chaos with Airbnb? Thank you so much for your brilliant expertise. 🤣I'll keep that in mind.
@@RealSky11 no those aren't the two ONLY options but if you relocate to another house that's next to two long time 40 year + residents, what happens when an investor purchases the property with short term rental intentions after the neighbors pass away? I'm just saying that the acquisitions of short term investments are increasing as time goes on, so it makes it hard to completely escape
@@TheAlkalineHealer The neighboring homes in the price range of the property I’m moving to will NEVER be purchased by Airbnb investors. So no need to concern yourself…
Thanks uncle Toby, you knows all the real players.
Airbnb raised their fees too. Someone will see let's say $120 a night, then go to checkout and it jumps to freaking $200+ a night! They add up to 21% in fees alone before tax
Also the cleaning is backwards. Hotels let you leave without damage and won't charge you, where Airbnb you pay the cleaning fee just to make sure it's clean before you leave or you'll be charged more
And it depends on where you live. My occupancy rates are under 30% consistently, sometimes 0%
The affect on local housing markets vary. On Oahu, there already was a huge homeless population of working people, priced out of rent--even educated professionals. So airBnB is just another notch out of inventory, and I rented one originally and it is well beyond local incomes.
So that's a metric to consider. How much inventory is available for working class and fixed-income retirees? Then, is airbnb priced for local wages or for tourists?
I am unconvinced.
I would enjoy hearing more on your reasoning for that thought. 👍
@@TobyMathis
My greatest area of concern for this space is specifically for those who buy a property that doesn't cash flow as a normal rental but can work as a short term rental. Sadly, I don't have any information as to what percentage of the market fall into this category.
Other use cases where someone is either listing spare bedrooms as an airBNB unit or offering a home that they already own outright as a short term rental to boost existing income cause me less concern.
My concerns are:
1.) Supply is high.
a.) I was surprised at the sheer number of airBNB units in my area.
b.) Other cities have an even more surprising number of units.
2.) Demand moving forward may not be as high as it has been in recent years due to.
a.) end of stimulus money
b.) partial resumption of student loan payments
c.) Gas prices nearly doubled since 2019 and still rising
d.) food prices nearlyl doubled since 2019 and still rising
3.) Considerable legal risk in left leaning states
a.) eviction moratoria
b.) posible limitations or restrictions on short term rentals is some areas.
I think this space /could/ see a sharp drop in revenue generation moving forward if things go badly for the economy, and I think there are plenty of datapoints that lean in that direction.
If I had an RV that was just sitting in my driveway, an ADU that wasn't being used, or maybe even a second home that I intended to keep anyway but was empty most of the year, I'd certainly consider using them as a short term rental to generate some cash flow. Any income is better than no income.
I don't think I'd be willing to purchase a property specifically with the intention of using it as a short term rental unless I was financially prepared for it to go cashflow negative -at least given the home price vs rents in my area.
I hate Airbnb, too much fees and cleaning fee.
Agree... high price, BIG fees. Never makes sense.
C'mon Man... Ha haha ha....Why no discussion of NYC just about banning airbnb? ... Everything is really just so rosey?
I’m looking at renovating an old cabin in the backyard for a summer rental. The expense is mostly sweat and a very low investment of a $2-3k. It’s in a beautiful spot.
I did some digging in my area (low traffic, very seasonal) and I’ve seen worse options get traffic for $80/night (before fees) during peak season. Seems outrageous for the shacks people list. Then I looked at the budget motels and they are at $72 lowest.
I want to be busy so I can break even by next year minimum on the expense (not the labour). Should I price lower than my competitors? Would 70 be a good number so I could get some traffic from hotels?
Thanks for the post. Taking notes
Recession is coming R.I.P AirBnb