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☆ Philadelphia is starting to crack down on unlicensed Airbnbs and Vrbos, which is bad news for 85% of units in the city
▼ + stars: | 2023-07-19 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

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

☆ 10 under-the-radar towns Airbnb and Vrbo hosts should consider for their next rental
▼ + stars: | 2023-07-15 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

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

☆ 10 US beach cities where the average host can make $200,000 or more per year
▼ + stars: | 2023-07-13 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

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

☆ A 55-year-old retired police officer explains how she rebuilt her credit after filing for bankruptcy — and has done over 20 real estate deals, from flips to long-term rentals
▼ + stars: | 2023-07-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +13 min

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

☆ A certain type of vacation home is struggling to stay booked this summer: the outdated, mid-tier listings on Airbnb and Vrbo
▼ + stars: | 2023-07-02 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

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 who work between 2 and 15 hours a week on their portfolios share 5 tools that help them improve efficiency and free up more time
▼ + stars: | 2023-07-02 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

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

☆ It's a cruel summer for Airbnb and Vrbo hosts, and meh listings are getting squeezed hard
▼ + stars: | 2023-07-02 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

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

☆ 45-year-old self-made millionaire shares his 4 'cheat codes' to help skyrocket your wealth
▼ + stars: | 2023-06-27 | by ( Alan Corey | ) www.cnbc.com time to read: +2 min

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

☆ 10 Things in Tech: Airbnb's Montana smackdown, Microsoft whining, Salesforce worrying, and Reddit rage
▼ + stars: | 2023-06-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

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

☆ It's a cruel, unpredictable summer for Airbnb and Vrbo hosts — but it also might be the new normal
▼ + stars: | 2023-06-24 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

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 battle over short-term rentals is heating up in Montana. 4 locals share which side they're on and why.
▼ + stars: | 2023-06-23 | by ( Dan Latu | ) www.businessinsider.com time to read: +9 min

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

☆ If you're looking for a last-minute trip to Cape Cod during the 'busy' season, you might be in luck. Summer rentals are sitting empty.
▼ + stars: | 2023-06-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

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

☆ A 27-year-old Airbnb host with 25 units says he works less than 15 hours a week thanks to 3 software tools
▼ + stars: | 2023-06-08 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

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

☆ A former FedEx driver who couldn't afford to invest in real estate the traditional way explains how he used 'Airbnb arbitrage' to acquire 25 rental units in less than 2 years
▼ + stars: | 2023-06-02 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

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

☆ I stayed in a VRBO with a shocking list of checkout chores. I'm an Airbnb host myself, and I worry it gives our industry a bad name.
▼ + stars: | 2023-05-27 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

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.

☆ A 27-year-old started 'Airbnb arbitrage' after getting laid off during the pandemic. He explains how he got his first rental with $6,400 upfront and scaled to 25 units in less than 2 years.
▼ + stars: | 2023-05-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +11 min

After being laid off in March 2020 Nathan and Taniera Turner started looking into real estate. Today, they have 25 Airbnb units in three different states, plus an Airbnb cleaning business. They continued working with the client, who owned six Airbnb units total, and started learning more about the hosting side of the business. "They were telling us about their journey and how they were able to quit their jobs from doing Airbnb," said Turner. Moving to Houston and using rental arbitrage to set up an Airbnb rental with $6,400The Turners continued picking up clients and cleaning Airbnb properties in Louisville.

☆ Hotels Roll Out the Red Carpet for Pets
▼ + stars: | 2023-05-15 | by ( Stephanie Rosenbloom | ) www.nytimes.com time to read: +3 min

As anyone who travels with a pet knows, sometimes questions or concerns about their health or behavior arise while you’re on the road. Guests can gain access to the service through a phone help line and a website with a live-chat feature and get advice and answers to questions about pet health, wellness and behavior. Today, nearly 85 percent of U.S. Hilton properties are pet‑friendly. Check individual hotels for programs, policies and pricing. Whether you choose a penthouse in Barcelona or a roomy log cabin in Waynesville, N.C., there are plenty of high-end, pet-friendly homes, many for less than the cost of a hotel room.

☆ The Ultimate Airbnb Survival Kit: 6 Things You Should Always Bring With You
▼ + stars: | 2023-05-10 | by ( Rae Witte | ) www.wsj.com time to read: 1 min

PLAY IT LOUD The Sonos Roam is an instant vibe creator, capable of making even the most austere vacation rental feel as cozy as home. Photo: SonosCERTAIN THINGS come standard in a decent vacation rental: fresh-cut flowers, local artisanal coffee, hopelessly uninteresting books. So, why is it always a toss up whether you’ll find a wine key? The promise of any Airbnb , Vrbo or FlipKey is a living arrangement that feels more like home than hotel. Our advice: Compile these six items, ideally in a dopp kit that is ready to deploy into your carry-on whenever you set off for a rental.

May 9 (Reuters) - Vacation rental booking company Airbnb Inc (ABNB.O) said on Tuesday that it expected fewer bookings and lower average daily rates in the second quarter versus a year earlier, sending shares down 11.5% in after-hours trading. Average daily rates were flat year-on-year at $168. Nicholas Cauley, an analyst at Third Bridge, said pressure on household budgets was likely to result in consumers choosing more affordable accommodation, leading to a decline in average daily rates in future quarters. "Some of the pressures that we're seeing there on overall revenue growth has frankly just been some of the elevated (average daily) rates," Airbnb Chief Financial Officer David Stephenson told investors. The company said earlier this year that average daily rates would remain pressured as vacationers returned to lower-cost urban rentals.

☆ When You’re Traveling, Does an Airbnb Beat a Hotel?
▼ + stars: | 2023-05-03 | by ( Valerie Stivers | Kevin Doyle | ) www.wsj.com time to read: 1 min

UNHAMPERED OR PAMPERED A short-term rental is unpredictable (for better or worse), while a hotel stay can offer indulgent services. Illustration: Eliot WyattFor the recurring series That’s Debatable, we take on a contentious issue of the day and present two spirited arguments—one in favor and the other emphatically opposed. THE INCREASING popularity of short-term rentals such as Airbnb and VRBO has changed how travelers think about accommodation. Advocates of such rentals love the idea of living like a local and calling all the shots, while opponents cherish the pampering and hospitable perks that come with a stay at a hotel. What’s best?

☆ I bought a pre-built tiny house for my yard that brings in passive income. Here's how I set it up.
▼ + stars: | 2023-05-02 | by ( Jenna Gyimesi | ) www.businessinsider.com time to read: +9 min

She bought and rents out a tiny house in her yard to pay for her mortgage. For example, the tiny house in my yard completely pays the mortgage for the home my fiance and I live in. My first tiny house was a converted detached garage already in my yard. Steph DouglassMy tiny house was $89,000 and fully finished insideI bought a pre-built, fully finished tiny house from a local place called Creative Living Solutions for about $89,000 which included delivery and tie-down fees (which secure the tiny house in place). Change the title of your online listing frequentlyI shop at second-hand stores to decorate my tiny house.

☆ I bought a $775,000 Palm Springs house to rent on Airbnb when I was 25. It's not as profitable as I thought it would be.
▼ + stars: | 2023-04-26 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

Shelby Church, 28, and her twin, Monica, bought a house in Palm Springs for $775,000 in 2020. I don't think that owning an Airbnb in Palm Springs is a super profitable investment. Palm Springs has tough rules, but I think they're ultimately goodIn Palm Springs, you can only do 36 rental contracts per year. So it also encourages people that are actually going to use the house, enjoy themselves, and be a part of the Palm Springs community. And most vacation rental owners kind of bank on that weekend to carry them through the slump summer season.

☆ Airbnb has descended on America's small cities. Now locals must decide how to contain it.
▼ + stars: | 2023-04-24 | by ( Dan Latu | ) www.businessinsider.com time to read: +11 min

In cities both small and large, some locals are calling out short-term rentals for making housing more expensive. The same question is perplexing local governments and fueling impassioned locals to weigh in: What should we do about Airbnb-style, short-term rentals? Jacob Boomsma/Getty ImagesFor Bozeman Tenants United, it's simple math: Bozeman homes should be occupied by Bozeman residents first, before out-of-towners. Formed in 2020, Bozeman Tenants United surveyed Bozeman residents on the most pressing issues in local housing and landed on short-term rentals. Fire Thunder said the increase of short-term rentals and vacation-owned properties is just one harbinger of a concerning trend.

☆ The next threat to Airbnb: Superhosts want to leave the platform and take their listings with them
▼ + stars: | 2023-04-08 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

Hosts want to cut out the middle manTop hosts have spoken out recently about their desire to leave the platform. In December, influencer couple Sara and Tony Robinson told Insider they were planning to "quit" Airbnb and funnel their $1.3 million portfolio into direct bookings. (The couple would still leave a few of their 22 listings on the platform, they said.) Alaska resident Amie Somer echoed the Robinsons in her insistence on using direct bookings for her $1 million Arizona home, where she landed $50,000 in bookings in her first year. "I don't want all my eggs in one basket," she told Insider.

☆ Expedia Group launches in-app feature powered by ChatGPT
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, April 4 (Reuters) - Online travel booking company Expedia Group Inc (EXPE.O) said on Tuesday it launched an in-app feature powered by OpenAI’s ChatGPT for users to start conversations and receive hotel, flight and destination recommendations. Expedia and Booking Holdings Inc's (BKNG.O) Kayak are among the first travel companies to integrate generative artificial intelligence with travel search as the industry seeks ways to make travel planning easier. The Vrbo and Hotels.com operator said the feature will also automatically save recommendations. “We can now offer travelers an even more intuitive way to build their perfect trip,” said Expedia Group CEO Peter Kern. Reporting by Doyinsola Oladipo in New YorkOur Standards: The Thomson Reuters Trust Principles.

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