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☆ You can own this Santa Barbara home shaped like a whale for $3.25 million. Or you can rent it on Airbnb, so long as you're 40 or older — see inside.
▼ + stars: | 2023-07-30 | by ( Dan Latu | ) www.businessinsider.com time to read: 1 min

But it's not only the color of a whale. The entire estate aims to recreate the creature's form, explained listing agent Daniel Carpenter. "It truly runs the anatomy of the whale," he told Insider. Courtesy of Scott Gibson for Sotheby's International Realty

Persons: it's, Daniel Carpenter, Scott Gibson Organizations: Sotheby's International

☆ A 70-year-old Phoenix real-estate agent explains why she converted her 4 Airbnbs into long-term, furnished rentals. 'It's the most overheated market I've ever seen.'
▼ + stars: | 2023-07-27 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

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

☆ My monthly mortgage went up $1,000 after my Florida home was put in a flood zone. I'd leave the state but my wife's business is here.
▼ + stars: | 2023-07-23 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

Florida resident Danny Collins found out that his mortgage went up $1,000 a month. FEMA placed his home in a flood zone, and his bank bought him flood insurance without telling him. Even though we're on the coast, we initially weren't in a flood zone. They just said that there was flood insurance that we had to have, and they had bought it for us. If I could leave Florida I would, but my wife has built her business here.

Persons: Danny Collins, Collins, we're, haven't, it's, I've, That's Organizations: FEMA, Service, Florida Locations: Florida, Wall, Silicon, Sound

☆ Philadelphia is cracking down on Airbnb and Vrbo. Locals are torn over whether it's a good thing.
▼ + stars: | 2023-07-22 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

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

☆ 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

☆ A historically Black neighborhood in Chicago is harnessing a first-of-its-kind microgrid, raising a new standard for sustainable energy in disenfranchised areas.
▼ + stars: | 2023-07-13 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Chicago's Bronzeville neighborhood has a microgrid, which can operate independently if necessary. A microgrid, a smaller version of the city's electrical power grid, went live last year in the iconic South Side neighborhood of Bronzeville. It's this kind of energy reform, said William Davis, the executive director of the Bronzeville Community Development Partnership, that should "start in the hardest-hit areas." Solar panels on several neighborhood buildings are also contributing power to the microgrid, integrating the zero-carbon energy into Chicago's grid system. Together, the microgrid and energy initiatives represent progress in a community that might have otherwise been overlooked, Davis said.

Persons: Bronzeville, Jesse Owens, Louis Armstrong, Joe Biden, William Davis, Zheng, it's, Yami Newell, It's, Davis Organizations: Service, Congress, Heritage Area, Development Partnership, Illinois Institute of Technology, Black Metropolis Deemed, Department of Energy Locations: Chicago's Bronzeville, Bronzeville, New York, New Jersey, Texas

☆ 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

☆ Meet the typical Australian millennial: They're delaying marriage and kids, have $16,000 in student debt, and their housing woes sparked political change.
▼ + stars: | 2023-07-09 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

Delaying kids and priced out of homes, the typical Australian millennial looks similar to Americans. Student debt averages $16,000, and the government doesn't collect until you reach a certain income. Australian millennials have also empowered a political party, the Greens, with their housing woes. In 2017, 60 Minutes Australia asked Melbourne real-estate mogul Tim Gurner if Australian millennials were forever locked out of the housing market. Also frustratingly locked out of the housing market, Australian millennial voters have pushed a third-party, the Greens, into a seat at the table.

Persons: Tim Gurner, —, doesn't, frustratingly Organizations: Greens, Service, Australia, Melbourne, Census Bureau Locations: Wall, Silicon, Australia, United States

☆ Fewer Americans are taking time off for vacation this summer, and it might be due to inflation
▼ + stars: | 2023-07-07 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +3 min

Fewer workers are taking time off for vacation or personal days, compared to last year. The following chart shows that the post-pandemic recovery in the number of workers taking vacation in June has stalled, with a slight drop from June 2022 to June 2023. To be sure, airline ticket inflation isn't as bad as it was last year. Even so, airline ticket inflation came in at 30.2% for all of 2022. When it comes to why fewer Americans are taking time off for vacation this summer, Acting Secretary of Labor Julie Su told Insider that it's "an important question."

Persons: Julia Pollak, —, who's, Bianca Giacobone, Hopper, Labor Julie Su, Su, Dan Latu, Ric Kenworthy, Latu, They're Organizations: Labor Statistics, Service, lastest Bureau of Labor Statistics, Labor Locations: lastest, Europe, Asia, Phoenix

☆ As the climate crisis intensifies, insurers will likely reshape where people live — leaving desperate homeowners in the lurch
▼ + stars: | 2023-07-02 | by ( Catherine Boudreau | Dan Latu | ) www.businessinsider.com time to read: +9 min

Nick's dilemma illustrates how the climate crisis is touching even the most mundane aspects of owning a home. That's been stagnant because of strict state regulations on what insurance companies can charge. She's one of many homeowners who for years have bought policies from companies that aren't approved by Florida's insurance regulators. Houses that would cost $1 million or more to rebuild are not covered by the state-backed Citizens Property Insurance, leaving them vulnerable to a disaster. Now he's not sure whether he — or anyone — will ever get the chance to live in his former neighborhood again.

Persons: —, Nick, hadn't, McKinney, Hurricane, Madelyn Rodriguez, Rodriguez, Ian, Rodriguez's townhome, Bob Stephens, Stephens, It's, he'd, he's Organizations: Service, California FAIR, Insurance, Institute, State Farm, Allstate, Insurance Information Institute, Property Insurance, Los Angeles Locations: Klamath, Forest, Oregon, McKinney, California, Florida, Fort Lauderdale , Florida, Broward County, Marathon , Florida, —, Marathon

☆ 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

☆ 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

☆ See NYC's charmless supertall skyscrapers, which one critic is calling a showy display of billionaires' stranglehold on America
▼ + stars: | 2023-05-29 | by ( Dan Latu | ) www.businessinsider.com time to read: 1 min

Billionaires' Row. C. Taylor Crothers/Contributor/Getty ImagesIn "Sky-High: A Critique of NYC's Supertall Towers from Top to Bottom," out from PA Press on June 27 and with photography by Bruce Katz, writer Eric P. Nash dives into the current state of Manhattan development, in which the supertall reigns supreme. It's a generation of architecture he is less than impressed with. He gamely takes turns explaining New York City's new skyline by plucking out its newest additions and dunking on what architect Steven Holl called "profane spires." Nash argues this moment's infatuation with supertalls has choked resources for civic buildings and affordable low-rise housing, and turned big-name architects' attention away from projects that would benefit a larger population because they lack the prestige that supertalls offer.

☆ I sold my pricier home in Arizona and bought a $70,000 house in Kansas for peace of mind in my twilight years
▼ + stars: | 2023-05-28 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

There was a settlement outside of Scottsdale, Arizona, that's been in the news. My neighbors in Sun City, Arizona, were also aware of the situation but for whatever reason, they weren't as alarmed by it as I was. Junction City, Kansas. Kansas City Star/Getty ImagesThe realtor met me there, but it turned out to be in not very good condition. And that's that's the way it's been the whole time.

☆ 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.

While buying a house can set you up for financial success, renting comes with its own benefits, like flexibility. If you can't afford a down payment or monthly payments, you may want to continue renting for now. Homeownership also costs more than just the monthly mortgage payment. This includes your mortgage, property taxes, mortgage insurance, homeowners insurance, and HOA fees, but not costs like utility bills. If monthly mortgage payments would be a financial strain, it could be better to keep renting for now.

☆ A blogger who started off posting photos of LA's high-design homes on Instagram became a real-estate agent who turned his 99,000 followers into $200 million in sales last year
▼ + stars: | 2023-05-22 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

He started a design-focused Instagram account, Take Sunset, that has almost 100,000 followers. Now he runs a team of agents named after the account that closed $200 million in deals in 2022. The couple still live in the house Kallick helped them purchase. He said the Instagram account still generates multiple leads — sometimes even from celebrities. Prospective buyers might reach out thinking they only want to see midcentury homes.

☆ A 28-year-old paid just $10,000 for a rundown house that she and her dad are renovating into a hot-pink Airbnb
▼ + stars: | 2023-05-17 | by ( Dan Latu | ) www.businessinsider.com time to read: 1 min

Hanes posing at Rose Cafe in Sunny Isles Beach, Florida. Courtesy of Katie HanesKatie Hanes, 28, dreams of creating a one-of-a-kind Airbnb, an experience that is "more than just a place to sleep at night." After a visit to the all-pink Rose Cafe in Sunny Isles Beach, Florida, she imagined a pink palace where guests could create "lifetime memories."

☆ I bought a 720-square-foot cruise ship cabin for $2.5 million. My wife and I plan to live at sea full-time and are excited to make new friends in our 80s.
▼ + stars: | 2023-05-14 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Mike Soroker, 80, and his wife Barbara, 75, purchased a $2.5 million cabin on the MV Narrative. purchased a $2.5 million cabin on the MV Narrative. This as-told-to essay is based on a conversation with Mike Soroker, 80, and his decision to purchase a $2.5 million cabin aboard Storylines MV Narrative, a luxury residential cruise ship, where he and his wife, Barbara, plan to live full-time. The MV Narrative is currently slated to set sail in 2025 and circumnavigate the earth once every three years continuously, with stops in ports across the globe. A rendering of a one of the cabins on the MV Narrative from cruise company Storylines.

☆ A mom spent $41,000 on a rundown cottage and transformed it into an Airbnb rental. Now she's quit her job to run it.
▼ + stars: | 2023-05-13 | by ( Dan Latu | ) www.businessinsider.com time to read: 1 min

The cottage before renovations. Courtesy of Ebonn TwilleyEbonn Twilley had helped her mom run an Airbnb, but wanted to set out on her own. When her broker spotted a one-bedroom cottage being sold as part of an estate sale, Twilley thought it would be the perfect-sized project to begin with.

☆ Airbnb's CEO thinks your summer vacation will be cheaper this year
▼ + stars: | 2023-05-11 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

Airbnb predicted nights booked and prices would drop compared to last year at this time. US travelers are "price-sensitive" and favor the cheapest accommodations possible, Chesky said. CEO Brian Chesky told analysts that he expects hosts could be motivated to reduce their nightly rates to stay booked. "Just like Amazon, the more affordable we are, with the wider selection, the more people will come to Airbnb," Chesky said in the earnings call. So I've gotta make sure I remember the 26-year-old me that didn't have a lot of money when I started the company," Chesky told Nilay Patel, editor-in-chief of technology news site The Verge, this week.

☆ Two Seattle friends who never even tried 'van life' made $320,000 last year turning Sprinter vans into sleek mobile homes and renting them out to remote workers and families
▼ + stars: | 2023-05-09 | by ( Dan Latu | ) www.businessinsider.com time to read: 1 min

Reid and Singer would one day like to expand their van rentals to San Francisco or Austin. For now, they're focused on making their current operation as hands-off as possible, which would allow them to return to traditional 9-to-5 jobs while keeping their side hustle for passive income. Lounge van opens to a beach. Courtesy of Noma Vans

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