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Jamie Inlow saw the Airbnb potential of her neighbor's sheep barn, and the two went into business. A property Inlow manages in Charlottesville, Virginia. In late 2020, the business took a real shift when a local real estate agent sent me a DM on Instagram. My partner and I run this Airbnb business full timeI didn't leave my consultancy job until July 2022 as my husband and I were also building our family home. The stylish interior of a Be Still Getaways property.
Persons: Jamie Inlow, Inlow, , Airbnb, influencers, messaged, who'd, I'm, Inlow's, We're, we've Organizations: Service, Be, Appalachian State University, Facebook, House Locations: Scottsville , Virginia, Scottsville, Charlottesville , Virginia, Staunton , Virginia, Instagram
The golden years for NYC Airbnb hosts are over
  + stars: | 2023-09-18 | by ( Dan Latu | ) www.businessinsider.com   time to read: +4 min
Airbnb listings in September fell to 4,600, a staggering 77% drop since June. AdvertisementAdvertisementOnly 4,600 short-term listings in New York City remain on Airbnb this month compared with over 20,000 active listings in June, according to analytics site AirDNA. It also found that Airbnb listings for stays longer than 30 days, which would be okay under the city's new rules, jumped from 54% of all listings in August to 88% in September. Florence banned new short-term rentals in the historic city center, while Paris capped how many days hosts could rent. Are you a New York City host affected by the newly enforced regulations?
Persons: Christine Blackburn, Blackburn doesn't, That's, Airbnb, Brian K, Lewis, Florence, Dan Latu Organizations: Service Locations: Wall, Silicon, New York, York, Brooklyn, Fort Greene, New York City, Ridgewood , Queens, Paris, Dallas, Philadelphia, dlatu@insider.com
CNN —Travelers looking to rent an apartment for a few days in New York City will find slimmer pickings now that city officials have started enforcing new rules cracking down on short-term rentals. Airbnb has called the rules a “de facto ban” on short-term rentals (STRs) that will hurt hosts and the tourism economy. The requirements for approval are strict and follow laws that pre-date the new registration rules. Hanson said that long-term average hotel occupancy in New York City is between 80% and 85%, well above the national average between 62% and 67%. Thousands of listings across various booking sites will be affected as the new registration rules are enforced.
Persons: Airbnb, , Christian Klossner, Andrew Lichtenstein, ” Theo Yedinsky, Bjorn Hanson, Jonathan M, Hanson, ” Hanson, ” Airbnb Organizations: CNN, Travelers, NYC’s, Special, Expedia, New York, Tisch Center of Hospitality, New York University, isn’t, Marriott, Hilton, CNN Travel, Local Locations: New York, , York, New York City, “ New York
The new rules threaten to shutter thousands of short-term rentals and fundamentally redraw what kinds of apartments and homes are used for short-term rentals in New York City. Data site Inside Airbnb estimates there are 40,000 Airbnb listings alone, while an economic study prepared for Airbnb by Boston University Professor Michael Salinger estimates that number is closer to 36,000. One reason for New York City's crackdown is a concern over how short-term rentals squeeze an already incredibly tight housing market. "But a lot of short-term-rental hosts are getting caught up in this lazy sweep." Currently, the average daily rate for New York City listings on Airbnb and Vrbo is $251, according to AirDNA.
Persons: it's, Michael Salinger, AirDNA, Grant, Eric Adams, Melissa, I've, Melissa isn't, she'd, Larry Korman, Siegfried Layda, Korman Organizations: Service, New York, Boston University, Street Journal, New York City's, Special, York City, New Locations: New York City, Wall, Silicon, New, Airbnb, Hollywood, York, Philadelphia, New York, Ridgewood , Queens, Central Park, Central
Rental arbitrage is a strategy in which you rent a property and sublet it on platforms like Airbnb. There are plenty of creative ways to break in, including rental arbitrage. The goal is to make enough in short-term rental income to not only cover rent, but pocket extra cash each month. Insider spoke with five investors about how they created cash flow with relatively low start-up costs by leveraging other people's properties. Courtesy of Zeona McIntyreZeona McIntyre did a slightly different version of rental arbitrage back in 2012.
Persons: who've, Nathan, Taniera Turner, Nathan Turner Houston, Turner, Zeona McIntyre, Zeona McIntyre Zeona McIntyre, McIntyre, That's, It's, she'd, there's, Jim Resonable, Seegars, Jervais Locations: Houston, Des Moines, Louisville, Boulder, Airbnb, North Carolina , California, Georgia, Savannah , Georgia
Airbnb and Vrbo demand is strong this summer, but a glut of supply continues to pinch hosts. But some hosts said, even with the demand, the headaches of hosting are no longer worth the money. Courtesy of Ryan VillinesAfter a grueling summer, Airbnb and Vrbo operators are deciding if the headaches of hosting are worth it. "I could be on vacation or out having drinks with friends, but I'm going to have to reply to Airbnb guests who can't get in or can't find the street," she told Insider. Are you a short-term-rental host deciding whether to stay in or leave the industry?
Persons: It's, Ryan Villines, Villines, Peggy Gascon, Ric Kenworthy, Kenworthy, Jen Kelman, She's, Kelman, she's, Dan Latu Organizations: Service, Phoenix Locations: Wall, Silicon, Airbnb, Missouri, Phoenix, Pine , Arizona
Savoring and Saving: Cooking on Vacation
  + stars: | 2023-08-18 | by ( Elaine Glusac | ) www.nytimes.com   time to read: +1 min
Matt Tracy, 45, a shoe distributor based in Portland, Maine, loves to cook. ​ “We save a tremendous amount of money cooking,” he said. “We love going out to dinner, but with two kids and other guests it’s expensive.”​Whether catering to allergies or other dietary needs, ensuring family harmony or sticking to a budget, cooking on vacation is increasingly popular among travelers choosing short-term rental accommodations. According to a 2023 travel trend report from the vacation rental platform Vrbo, demand for “foodie-menities” is on the rise. Sixty-five percent of users surveyed said equipment like a barbecue, air fryer and deluxe coffee machine were more important than the destination.
Persons: Matt Tracy, , , , fryer Organizations: Locations: Portland , Maine, Tuscany
'Scandi summer' trendInterest in visiting the Mediterranean dropped by 10% from June to November this year, according to data published by the European Travel Commission. watch nowA "Scandi summer" trend is evident among summer home renters too, according to Expedia Group. Shifts in SpainSpain is the most popular travel destination in the European Travel Commission's poll of more than 6,000 European travelers. A spring poll of more than 6,000 European travelers showed the No. 1 reason for choosing a travel destination was "pleasant weather conditions," according to the European Travel Commission.
Persons: Tom Marchant, Marchant, Evia, Will Vassilopoulos, Cynthia Nerangis, Peter Tomlinson, Tomlinson, InsureMyTrip, hasn't Organizations: CNBC, European Travel Commission, Expedia Group, Expedia, Costa de Cantabria, Afp, Getty, National Parks, Swiss, Istock, Travelers, LemonLime, CNBC Travel Locations: Europe, London, Finland, Norway, Sweden, Iceland, Scandinavia, Swedish, Skane, Blekinge, Edinburgh, Scotland, Riga, Latvia, Tallinn, Estonia, Smaland, Tenerife, Rimini, Spain Spain, Costa Blanca, Costa Brava, Mallorca, Costa Verde, Costa de, Basque, Greece, Rhodes, Corfu, Lofoten, Croatian, Canada, U.S, Slovenia, Italy, Puglia, Sicily, North Africa, Austrian, Lucerne, Solden, Switzerland, Morocco, Marrakech, France, Athens, Crete
Real-estate agent Peggy Gascon flipped all of her four Phoenix-area Airbnbs into long-term rentals. She appreciates the "peace of mind" and stability as the short-term market shifts. Gascon is just one host dealing with the shifting tides of the short-term rental market. Courtesy of Peggy GasconAll four of her short-term rentals are now rented out long-term, having converted the last one in May. The market wasn't providing enough income to make the added expense of maintaining the short-term rentals worth it.
Persons: Peggy Gascon, it's, I've, They're, Gascon, Airbnbs, I'm Organizations: Service, Travelers Locations: Phoenix, Wall, Silicon, Scottsdale
Philadelphia locals are divided over a crackdown that could remove 85% of Airbnb and Vrbo listings. A local Airbnb host said it's unfair and doesn't support it, even if it means less competition. The move could eliminate 85% of short-term rentals, or nearly 1,700 pads, according to the city's own estimate. It's a tiny window that seems unfair, local host Rob Brown told Insider. As a local, she's also experienced disturbances with short-term rentals in the area.
Persons: Lisette Santiago, Santiago, Rob Brown, Brown, Mark Squilla, WHYY, Airbnb, We've, she's, She's Organizations: Service, city's Department, Licenses, City, Temple University, Department, Travelers Locations: Philadelphia, Wall, Silicon, North Philadelphia, Temple
The city estimates nearly 1,700 short-term rentals are at risk of being removed from the platforms. By the city's own estimate, the crackdown could shut down 85% of all short-term rentals in the city — or nearly 1,700 units. Scottsdale Councilmember Solange Whitehead told Insider that issues over short-term rentals had reached a boiling point. In Bozeman, Montana, where short-term rentals nearly doubled during the pandemic, some locals have called for a permanent ban. Host Michael Rutkowksi told Insider that the town should start with enforcing the licensing requirements already on the books.
Persons: Jim Kenney, that's, Mark Squilla, WHYY, Airbnb, We've, Solange Whitehead, Michael Rutkowksi Organizations: Philadelphia, Service, city's Department, Licenses, City, Scottsdale Locations: Philadelphia, Wall, Silicon, Phoenix, Scottsdale , Arizona, Bozeman , Montana
But it's a cruel summer for short-term rental hosts, as many vacationers are seeking out lower nightly rates and last-minute bookings, putting pressure on hosts in busier markets. To compile the report, AirDNA looked only at locations with between 100 and 500 whole-home listings with between one and five bedrooms. These spots proved a "happy middle ground" of established destinations that are not yet "name-brand" vacation spots, AirDNA Director of Enterprise Marketing Dillon DuBois told Insider. The higher a location's yield, the higher it ranked. AirDNA supplied all figures except for average home prices, which are from Zillow and used by AirDNA in its ranking.
Persons: Vrbo, AirDNA, Dillon DuBois, DuBois Organizations: Service, Enterprise Locations: Niagara Falls , New York, Geneva , Ohio, Wall, Silicon, Wisconsin , Mississippi , Ohio
These 10 US beach locations are expected to be rental hot spots this summer, according to AirDNA. Analytics firm AirDNA projects the average host can bring in $200,000 or more in these locations. The list calculates how often the average host is booked (average occupancy) and how much the average host is charging (average daily rate) to arrive at the annual revenue potential. The most iconic beach states — California and Florida — dominate the list with spots like Destin, Florida, and Monterey Bay, California, along with cities like Miami and San Diego. In all locations, AirDNA projects the average host could bring in around $200,000 or more this year.
Persons: Vrbo, Hilton Organizations: Service Locations: AirDNA . California, Florida, South Carolina, Wall, Silicon, — California, Destin , Florida, Monterey Bay , California, Miami, San Diego, , South Carolina
Still, she's managed to do more than 20 real estate deals, from flips to long-term rentals. Dipping her toe into investing and learning from the 2007 housing market crashStroud's introduction to real estate investing wasn't a smooth one. "My very first real estate interaction was a failed one," she said. "During the 2007 real estate crash, values dipped everywhere but our property didn't dip as low as others did. Courtesy of Brenda StroudLater that year, around December 2020, Stroud took an online real estate investing course for $17 offered by the Women's Real Estate Investors Network (WREIN) after seeing an advertisement on Facebook.
Persons: Brenda Stroud, she's, Stroud, Brandon, She's, she'd, that's, hadn't Organizations: Prince, United, Tuskegee University, Tuskegee, Stroud, Estate Investors, Facebook Locations: Prince George's County, Maryland, Georgia, Stroud, Tuskegee , Alabama, Washington , DC, Fort Washington , Maryland, Baltimore, Snellville , Georgia, Tuskegee, United States, WREIN
The high end and low end of listings are getting booked this summer, Airbnb managers told Insider. It's a listing stuck in the mediocre middle and, during the most competitive summer for hosts in the past three years, it's not getting booked. Kenworthy said these properties have been 80% booked this summer, running higher than the projected average of 56%. Budget travelers this summer have 'Champagne tastes on a beer budget'Meanwhile, with an abundance of listings to choose from, budget travelers are perusing with high expectations. Hosts said, for many of the listings getting stuck in the mediocre middle, it comes down to aesthetics.
Persons: , it's, Jamie Lane, They're, Ric Kenworthy, Kenworthy, Katie Kay Mead, Mead, aren't, Lane Organizations: Phoenix, Service Locations: Arrowhead, California
Full-time Airbnb hosts Kent He and Nathan Turner are efficient with their time. He spends 2-3 hours a week managing his properties, while Turner spends no more than 15 hours. "We probably only work 10 to 15 hours a week," said Nathan, who used to deliver for FedEx. The Turners and He shared five tools they use that help them work efficiently on their Airbnb businesses and free up more time. You may have the most unique Airbnb property, but if you don't properly market it, guests might never see.
Persons: Nathan Turner, Turner, Rankbreeze, doesn't, Nathan, Taniera Turner, Taniera, , Monday.com Turner, Airbnb, I'm, It's, they'll Organizations: Kent, FedEx, Marriott, Google Locations: San Diego, Scottsdale , Arizona, Houston, Scottsdale, PriceLabs
In the age of remote work, employers are quiet quitting on employees. Decision-makers at family offices revealed what it's really like managing billions for the ultra wealthy. But first: It's shaping up to be a cruel summer for Airbnb and Vrbo hosts. The Airbnb hosts getting squeezedReal-estate reshapeBlake Callahan / Getty ImagesThe real-estate industry is facing an existential threat. In the age of remote work, employers are doing it, too.
Persons: Matt Turner, Read, Brian Chesky, Charley Gallay, Vrbo, That's, Blake Callahan, Jonathan Ernst, Consuelo Vanderbilt Costin, Bryan Griffin, Insider's Ben Bergman, Arantza Pena Popo, It's, Satya Nadella, Hallam Bullock, Lisa Ryan Organizations: luxe, Reuters Workers aren't, Stanford University, The Vanderbilt, Waltons, Microsoft Locations: Silicon, Airbnb, New York
When I told my friends and family that I was going to get rich off real estate investing, they laughed at me. I invested a large chunk of my 9-to-5 earnings into real estate. Now, at 45, I'm a self-made millionaire with 366 units in my property portfolio. I earned my first million through unconventional investing methods that took advantage of a strong real estate market. 'Float' from mortgage to mortgage.
Locations: Atlanta, Manhattan, Airbnb
I'm Insider's global tech editor Alistair Barr, and I've been missing people a lot lately. Airbnb Montana smackdown: Life in the town of Bozeman is harder thanks to short-term rentals. That sparked a boom in Airbnb and Vrbo properties in the town, causing rents and property prices to surge. They are concerned about retaining talented colleagues, their future at Salesforce, and how leadership decisions adhere to the company's core values. Submit your nomination for Insider's 5th annual list recognizing first-time and newly named top marketers at consumer brands.
Persons: Alistair Barr, I've, I'd, we're, let's, Brian Chesky Mike Segar, Airbnb Montana, Dan Latu, Justin Sullivan, Read, Nassim Taleb, SoftBank, it's, that's, Bowties, India Narendra Modi, Mark Zuckerberg, Elon Musk, Kevin Dietsch, Dana White, Lisa Ryan, Jack Sommers Organizations: Bozeman Tenants United, Getty, Microsoft, Silicon Valley titans, White House, UFC, Insider's Locations: Bozeman, Airbnb, Seattle, Washington, Salesforce, Silicon, India, China, Silicon Valley, New York, London
Americans are still booking short-term rentals for the summer at record rates, beating expectations. But the growing pool of Airbnb and Vrbo hosts means some hosts are seeing revenue drop up to 18%. Americans are still voraciously booking short-term rentals, despite economic uncertainty — and are even outpacing expectations. In January, analytics site AirDNA forecasted demand for short-term rentals, as measured by nights booked, would grow by 5% in 2023. "Travel brands and the service economy have outperformed expectations, and short-term rentals are no different," said Jamie Lane, chief economist at AirDNA.
Persons: , Jen Kelman, Jamie Lane, Katie Kay Mead, Mead, it's, Kelman, Melinda Johnson, We're, Johnson, She's, she's, I'm Organizations: Service, Phoenix, AirDNA Locations: Arizona, Arrowhead , California, Tennessee, Smoky
The number of short-term rentals in Bozeman, Montana, nearly doubled between 2020 and 2023. The number of short-term rentals in town nearly doubled during the pandemic, according to analytics site AirDNA. Finegan said banning short-term rentals is "one of the most impactful things in our control" to create more affordable housing for locals. He dismissed banning short-term rentals because of rowdy or unclean guests, calling those arguments a "red herring" often drawn up against hosts. Larsen said she would support a ban on whole-home short-term rentals.
Persons: , Bozeman, Benjamin Finegan, Finegan, Angas Reid, Michael Rutkowksi, Rutkowski, he's, Jason Ridgway, Ridgway, it's, Reid, there's, Angas Reid Ridgway, Wynona Larsen, Larsen, " Larsen, she'll, she's Organizations: Service, Time Magazine, Bozeman Tenants United, Bozeman, Walmart Locations: Bozeman , Montana, Bozeman, Aspen, Atlanta , U.S, Airbnb, Paradise, Montana, Livingston , Montana, Livingston
It's not too late to book a short-term vacation rental on Cape Cod this summer. Even as the vacation hot spot enters its busy season, locals are seeing the demand for vacation rentals soften. The occupancy rate is down 20% from last year, according to The Cape Cod & Islands Association of Realtors. After listing those homes on sites like Airbnb and Vrbo, the supply of vacation rentals is through the roof. The real estate group says the average daily rate has climbed to $619 up from $525 last summer.
Persons: It's, , Airbnb, Insider's, Vrbo, Beth Teitell, Ryan Castle, John Greim, Annie Blatz Organizations: Service, Islands Association of Realtors, Boston Globe, Globe, Getty, Kinlin Grover Compass Locations: Cod, Cape Cod
He started doing rental arbitrage and has since set up 25 Airbnb units that bring in up to $88,000 in monthly revenue. He says he works less than 15 hours a week, thanks to software tools like PriceLabs and Hospitable. "If I did overtime, I might bring home $700 to $800 a week, but that was after working 50 hours." PriceLabsOne of the early challenges Turner ran into was figuring out how to properly price his Airbnb units. Monday.comTo help manage his 10 employees, delegate tasks, and keep the internal team organized, Turner uses Monday.com.
Persons: Nathan Turner, Turner, Taniera, , PriceLabs, Monday.com, I'm, It's Organizations: FedEx Locations: Houston , Texas, PriceLabs
If you're looking to get into real estate but don't have a ton of capital, 'rental arbitrage' is an option. You sign a long-term lease and then rent out that property on short-term rental platforms like Airbnb. Nathan Turner used this strategy to set up his first Airbnb unit with $6,400. The Turners' upfront costs would include: first month's rent, a security deposit, and furniture. Between first month's rent, a $1,200 security deposit, and furniture, they spent about $6,400 and three weeks putting together their first Airbnb in 2021.
Persons: Nathan Turner, Turner, Taniera, wholesaling, Airbnb, they'd, we've, he's, it's, I've Organizations: FedEx, Turners, Houston Locations: Houston , Texas, Houston, Louisville, Des Moines
An Airbnb host photographed the checkout chore list at an Ohio VRBO she stayed in this month. During a recent stay in home she booked via vacation-rental site VRBO in Cleveland, Ohio, she encountered a list of chores to be completed before checkout. She photographed the sign and shared it with other short-term-rental hosts on Facebook, where her post received hundreds of comments. We just weren't going to do hours and hours of laundry. I understand it's impossible for a cleaning person to do hours and hours of laundry in a single day.
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