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☆ The battle over Airbnb has hit a breaking point
▼ + stars: | 2023-03-22 | by ( James Rodriguez | Dan Latu | ) www.businessinsider.com time to read: +16 min

"We started panicking and started connecting with other folks who we know have short-term rentals," Sullivan told Insider. Rather than a collapse of the industry, the increasingly bifurcated state of the market — a bust for some, a boom for others — is a clear sign that we have hit a turning point in the long-running battle over short-term rentals. Given the sharp rise of short-term rentals there, some local lawmakers have recently called for amending the law. Investors jumped in to capitalize on the boom, and the market soon became saturated with short-term rentals. There's one thing pretty much everyone can agree on: Short-term rentals are here to stay.

☆ The 'Airbnbust' proves the Wild West days of online vacation rentals are over
▼ + stars: | 2023-03-22 | by ( James Rodriguez | Dan Latu | ) www.businessinsider.com time to read: +16 min

"We started panicking and started connecting with other folks who we know have short-term rentals," Sullivan told Insider. Given the sharp rise of short-term rentals there, some local lawmakers have recently called for amending the law. But short-term rentals are often essential to a healthy tourism economy, particularly in vacation destinations. Investors jumped in to capitalize on the boom, and the market soon became saturated with short-term rentals. There's one thing pretty much everyone can agree on: Short-term rentals are here to stay.

☆ An Arizona homeowner who made $12,000 a month renting out her house reveals why she quit Airbnb and relies on Vrbo instead
▼ + stars: | 2023-03-10 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

An Arizona homeowner who listed her home on Airbnb for three years is leaving the platform. The Arizona homeowner joins other short-term-rental owners and managers who have expressed dissatisfaction with Airbnb as a booking platform. The Arizona homeowner said the specter of a slowdown also played a part in her decision to leave the platform. The Arizona homeowner said she believes seven days' notice is too little to adequately re-book the property. It puts a lot of pressure on hosts, the Arizona homeowner said.

☆ U.S. travel companies experience high demand but economic worries cloud outlook
▼ + stars: | 2023-02-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 24 (Reuters) - Fears of recession and the impact of inflation on consumer budgets could curb a rebound in travel demand reported by U.S. travel companies in the fourth quarter, although bookings are holding up so far this year, analysts said. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association. The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. International travel spurred demand growth for Airbnb and Marriott International Inc (MAR.O) in the fourth quarter. Group bookings are still down 15% compared to pre-pandemic levels, while headwinds in several industries continue to affect business travel, said Truist's Scholes.

☆ Travel demand is hot, but some prices may cool: These are the stocks for spring break and beyond
▼ + stars: | 2023-02-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Last week, Hilton Worldwide CEO Chris Nassetta said, "The demand trends here and now are really strong." In the home-rental space, Airbnb also said it was seeing continued strong demand at the start of 2023. China's reopening from its Covid lockdown is also helping propel travel demand, as well as the tick up in business travel, she said. "The trends have been really strong since January," he said. Airlines like Delta, American Airlines and United Airlines cited strong travel demand and higher fares for fueling their strong fourth-quarter earnings — as well as for forecasts for this year.

☆ Airbnb Puts Worries to Bed for Now
▼ + stars: | 2023-02-15 | by ( Laura Forman | ) www.wsj.com time to read: +1 min

Airbnb is forecasting that daily rates will ‘face increasing downward pressure’ this year. In travel, the winners were homestay platforms such as Airbnb . Domestically, average daily rates were up more than 30% in December versus the same period in 2019. But with inflation slowing and a possible recession looming, homestay pricing dynamics appear to be changing. Average daily rate growth in mountain and lake destinations was up less than 1% year on year in December, and the company forecasts pricing growth could turn negative in future months.

☆ Where Have All the Short-Term Renters Gone? To the Desert
▼ + stars: | 2023-02-14 | by ( Jessica Flint | ) www.wsj.com time to read: 1 min

For the past year, short-term rental booking demand in U.S. deserts has been particularly hot. According to data from short-term rental analytics firm AirDNA, Arizona’s Phoenix and Scottsdale area, the home of the 2023 Super Bowl, has seen a huge increase in booking demand, up 41% year-over-year, as of December 2022. This Sonoran Desert location has also seen an uptick in rental supply, with 23,249 listings in December 2022, up 47% year-over-year. These dynamics have pushed the area’s occupancy rate down 6%. A similar trend has been playing out in other desert destinations such as California’s Coachella Valley, where the Sonoran eventually meets the Mojave Desert, and in Marfa, Texas, in the Chihuahuan Desert.

☆ 7 hidden-gem cities and towns to buy an Airbnb in this year
▼ + stars: | 2023-02-13 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

They were picked for their high rate of bookings, growing revenue, affordability, and regulations. The list of 25 cities and towns captures destinations with "momentum," said AirDNA economist Jamie Lane. This year, the team also responded to the growing wave of regulations cities and towns are putting on short-term rentals. Locations like Burlington, Vermont and Madison, Wisconsin, for example, were removed because of new rules that limit who can own short-term rentals or require month-long stays. The list, however, is mostly dominated by midsized cities in the Midwest, where home prices are cheaper than in more expensive coastal cities.

☆ A manager of 95 Phoenix Airbnbs is stunned that half his homes are empty over Super Bowl weekend. Is it the latest Airbnbust?
▼ + stars: | 2023-02-10 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Phoenix Airbnb hosts were expecting to be fully booked over Super Bowl weekend. Take a prime three-bedroom two-bathroom home that Kenworthy manages in Scottsdale, a suburb of Phoenix that actively prepped for a wave of Super Bowl visitors. The Super Bowl is being held at State Farm Stadium in Glendale, Arizona. Christian Petersen/Getty ImagesThere are even signs of a recent surge in listings in response to the Super Bowl hype. While Phoenix will continue to be a popular vacation spot, Harvey predicts the Super Bowl disappointment will motivate some owners to sell their short-term-rental properties.

☆ How Much Will It Cost to Stay in Greater Phoenix for Super Bowl Weekend? (Hint: Much More Than Last Weekend)
▼ + stars: | 2023-02-08 | by ( Jessica Flint | ) www.wsj.com time to read: 1 min

The average ticket price to attend the 2023 Super Bowl in Glendale, Arizona, in the greater Phoenix area, is hovering around $9,000, according to secondary market ticket platform TicketIQ. If it costs that much to get in the door to watch the Philadelphia Eagles play the Kansas City Chiefs, how much will fans be ponying up to stay in a vacation rental near State Farm Stadium? According to short-term rental analytics firm AirDNA, the average booked rate in Glendale in advance of Super Bowl weekend was around $740 per night. This is compared to last weekend, when travelers could book a short-term rental in Glendale for closer to $225 per night.

☆ How Much Will it Cost to Stay in the Phoenix Area for Super Bowl Weekend? (Hint: Much More Than Last Weekend)
▼ + stars: | 2023-02-08 | by ( Jessica Flint | ) www.wsj.com time to read: 1 min

☆ Airbnb hosts' latest trick to draw more bookings: $0 cleaning fees
▼ + stars: | 2023-01-28 | by ( Dan Latu | ) www.businessinsider.com time to read: +6 min

Airbnb guests griped last year over cleaning fees added after they picked a place but before paying. Still, some hosts say explicitly advertising $0 cleaning fees helps increase bookings. More than two months after the change took effect, some Airbnb hosts told Insider they still saw resentment lingering among travelers. The hosts told Insider it seemed to generate interest in their rentals and even increase bookings during a tough time for some short-term-rental owners. Dan Latu/InsiderMelissa Hughes has never imposed cleaning fees at her goat farm in Tallahassee, Florida.

☆ Floridians can blame vacation homes and 'oppressive' homeowners associations for their high rents, economist says
▼ + stars: | 2023-01-13 | by ( Robert Davis | ) www.businessinsider.com time to read: +5 min

Too many vacation rentals and strict homeowners associations are pushing up housing costs, a study said. According to Johnson, there are too many vacation rentals in the Sunshine State. It's this particular combination of strict HOA rules and the sheer number of vacation rentals is a mixture that is affecting housing affordability negatively, he said. According to Johnson's study, Florida is now home to 9 of the 21 most overpriced rental markets in the US. The number of vacation rentals in the state is only making it harder for people to find affordable places to rent, the study suggests.

☆ A 24-year-old whose bold Airbnb brings in $9,500 a month shares ways to make listings stand out and get more bookings
▼ + stars: | 2023-01-11 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

Bridgette Whitney, 24, attributes the success of her Nashville Airbnb to eccentric design choices. Hosts from North Carolina to Arizona tap her to help their listings stand out from the competition. She shares her best design tips, from painting your own mural to outfitting an eye-catching bedroom. The pressure is on for Airbnb hosts headed into 2023. Whitney stressed that hosts don't need to break the bank, but just pick just one room or area to focus on.

☆ I'm an Airbnb multimillionaire. Here's why I'm optimistic about the platform in 2023, and my best advice for renters to weather the economy.
▼ + stars: | 2022-12-30 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +5 min

This as-told-to essay is based on a conversation with Chris Choi, a self-made Airbnb multimillionaire and real-estate investor from California. And class C listings are usually one- to two-bedroom apartments, with nightly rates ranging from $100 to $250. Meanwhile, I've noticed that bookings for my class C and B properties have decreased in recent months. If not, they should focus on targeting business travelers with class B or C properties, which I'll get into a bit later. Instead of choosing your next Airbnb near Disneyland or national parks, I would focus on locations that will accommodate business travel — in other words, metropolitan areas.

☆ Up to 25% of NYC's Airbnb listings could disappear under a new law set to go into effect — here's what to know if you're a host or traveler
▼ + stars: | 2022-12-29 | by ( Travis Clark | ) www.businessinsider.com time to read: +3 min

A NYC law set to go into effect in January requires Airbnb hosts prove they reside at the property. An estimated 10,000 — or 25% — of the city's Airbnb rental units could be shut down as a result. There are about 40,000 Airbnb listings in New York City, according to the unofficial database Inside Airbnb. Some real-estate investors turned their eye toward short-term rental properties during the pandemic, with short-term rental listings spiking by 19% from September 2019 to this September, according to AirDNA. Like the looming New York City rules, Atlanta requires short-term rental landlords to register with the city.

☆ See the pitch deck a startup used to raise $4 million to buy, sell, and manage short-term-rental properties
▼ + stars: | 2022-12-27 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +3 min

Investors love short-term rentals, but they face pitfalls with property management and regulation. Rove, a marketplace and property-management startup, helps investors underwrite short-term rentals. Jonah Hanig, the CEO of Rove, walked Insider through the pitch deck Rove used to raise $4 million. "In Park City, Utah, there are roughly 500 properties for sale, but only approximately 100 are in areas where you can use them as short-term rentals," Hanig told Insider. The ultimate goal is to create "Zillow" for short-term rentals with the added feature of underwritng and valuing properties based on their potential incomes.

☆ Airbnb and Vrbo owners should brace for 2023. There's more competition than ever and hosts will have to work harder to stay booked.
▼ + stars: | 2022-12-12 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Short-term rental owners will see a drop in occupancy rates in 2023, one forecast shows. While travel is still expected to remain high, travelers will have more listings than ever to choose from. "Even if we go into a mild recession, we don't expect demand for travel to decline next year," he told Insider. The hosts that will do best will most likely be those that offer discounted rates, Lane says. Those who don't actively manage their prices will "most likely" see a drop in their revenue, Lane said.

☆ I'm a 20-year-old Airbnb host who made $375,000 in revenue this year. Here's how I set up and scaled my properties.
▼ + stars: | 2022-12-08 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +8 min

Inayah McMillan is a 20-year-old Airbnb host with 11 listings in St. Louis, Missouri. This as-told-to essay is based on a conversation with Inayah McMillan, a 20-year-old Airbnb host with listings in St. Louis, Missouri. We've made more than $375,000 this year in revenue, and our best month yet was this past May, when we made $58,120 in revenue. If I could go back, I would have registered my Airbnb business as an LLC from the very start. Automation softwares are key to scaling"Beaming Carriage Home" in Central West End, St. Louis mAnother thing that sets me apart is having a private booking website.

☆ Regular homebuyers feel they struggle to compete with investors who turn properties into Airbnbs and Vrbos. Government officials are trying to change that.
▼ + stars: | 2022-12-07 | by ( Robert Davis | ) www.businessinsider.com time to read: +6 min

Atlanta lawmakers want short-term rentals to be licensed and to fine owners who violate city laws. In some cities, government officials are trying to regulate the number of short-term rentals that investors can purchase. The debate over short-term rentals in Atlanta is emblematic of similar debates in other cities. For instance, voters in Colorado towns like Dillon, Aspen, and Steamboat Springs this year approved measures to tax short-term rentals to help regular homebuyers afford homes. There are more than 1,300 short-term rentals in Joshua Tree, according to AirDNA, compared with a population of 7,700.

On the agenda today:But first: Jordan Parker Erb, the author of Insider's 10 Things in Tech newsletter, is taking us behind the scenes of Elon Musk's feud with Apple. Tim Cook and Elon Musk Justin Sullivan/Getty Images and Philip Pacheco/AFP via Getty ImagesThis week, Elon Musk, the world's richest man and new Twitter owner, declared "war" with the world's biggest tech company: Apple. At the heart of the issue was Apple's 30% App Store fee, our associate editor Jordan Parker Erb writes. Here's what went down:Sign up for 10 Things in Tech to get stories like these right in your inbox. Edited by Jordan Parker Erb, Hallam Bullock, and Lisa Ryan.

☆ A 48-year old Airbnb host breaks down how she used Facebook and Instagram to bring in $25,000 through direct bookings
▼ + stars: | 2022-11-23 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

Amie Sommer, an Alaska resident, rents out a $1 million Arizona home that sleeps 10. When she launched her listing, she used Facebook to get direct bookings from family and friends. Half of those bookings she told Insider were from promoting her direct booking link on the social-media sites Facebook and Instagram. Lodgify provides Sommer with a central calendar that syncs bookings between her website, Airbnb, and Vrbo. When it came time to book her first guests, Sommer was looking for "guinea pigs."

☆ I've made $740,000 on Airbnb this year. Here's my best advice for beginner hosts to maximize success and avoid common mistakes.
▼ + stars: | 2022-11-10 | by ( Narina Exelby | ) www.businessinsider.com time to read: +8 min

They bought their first short-term-rental property in 2019 and scaled while working full time. My wife, Jill, and I bought our first short-term-rental property in November 2019 after moving to Nashville. These are my best pieces of advice for beginners to avoid common pitfalls when investing in short-term-rental properties. Always plan for the worst-case scenarioI always use conservative numbers when I evaluate potential properties in my Google Sheet template. I rerun the numbers to see what the break-even point is and what the best potential profit could be.

☆ How anyone can get a cut of the $1.2T vacation rental market with reAlpha
▼ + stars: | 2022-11-10 | by ( Sponsor Post | Created Realpha With Insider Studios | ) www.businessinsider.com time to read: +9 min

And anyone can invest as they disrupt the $1.2 trillion short-term rental market. Now reAlpha is doing it for the $1.2 trillion short-term rental industry — and the timing couldn't be better. Why reAlpha targets the vacation rental marketreAlpha is targeting the vacation rental market because it's outperforming the rest of the real estate sector, and isn't slowing down. reAlpha makes short-term rental investing easyWhile many aspiring property investors are looking to get in on the $1.2 trillion short-term rental market, they're faced with roadblock after roadblock. Not only is reAlpha targeting the fast-growing vacation rental market, but they're using AI to take the opportunity to the next level.

☆ Airbnb hosts are worrying about an 'Airbnbust.' Here's the main reason some short-term-rental owners are experiencing a rough patch.
▼ + stars: | 2022-11-07 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

After factoring in expenses, she told her 1.75 million subscribers that she lost nearly $10,000 from June through September. Airbnb hosts in certain areas are experiencing booking slowdowns that some people are calling an "Airbnbust." Nixon told Insider that her tweet came after she'd noticed changing attitudes in posts in a 196,000-person Airbnb Superhosts Facebook group. Courtesy of Amy Nixon"I would say it's happened over the last several months," she told Insider. Nixon told Insider the slowdowns hosts have been seeing in recent years come from one main source: too much supply.

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