Are Airbnb bans actually hurting renters, homebuyers, and your local economy? The truth doesn’t seem so obvious, but new data shows the unintended consequences of banning Airbnbs and short-term rentals, especially in big cities. To get a take from someone inside the industry and with plenty of data to share, we invited Taylor Marr, Senior Housing Economist at Airbnb, to the show to explain how Airbnbs affect the economy, affordability, and housing supply.
For years, there have been claims that short-term rentals take away housing supply from renters and homebuyers and, as a result, inflate rents and home prices in nearby areas. But new data is saying something very, very different. Today, Taylor talks about how Airbnbs and short-term rentals change a local economy, the amount of money this type of local hospitality provides to small businesses, and why affordability ISN’T improving in areas where Airbnbs are banned.
We’ll also discuss the age of “experiences” and how hosts can earn more by catering to a new kind of traveler willing to spend. Do you have a short-term rental or want to make money with one in the future? Then don’t miss this episode!
In This Episode We Cover:
A short-term rental market update and how Airbnbs are faring in 2024
Airbnb supply and whether or not the short-term rental market is oversaturated
Tips for hosts to take advantage of “experiences” and make more money from their vacation rentals
The $80B impact Airbnb has on local economies and the real result of banning them
How Airbnb is working with local governments to IMPROVE affordability and tourist spending
And So Much More!
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(00;00) Intro
(02:33) 2024 Housing Market Update
(05:52) Effects on Short-Term Rentals
(09:47) Airbnb Supply Update
(11:16) Are Airbnbs Oversaturated?
(14:07) The Age of "Experiences"
(16:43) How Airbnbs Impact Local Economies
(25:05) Side Effects of Airbnb Bans
(34:30) Tips for Investors
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1008
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