On The Market 156: Facing Strict Short-Term Rules, Airbnb Shifts to a New Type of "Host" w/Jesse Stein
Airbnb is looking for a new type of host: renters. With housing costs rising nationwide, homeowners have almost always been able to rent out their properties to make an extra buck. But, until now, renters haven’t had the same opportunity. And, as mortgage rates rise and rents stay high, many renters are biding their time, hoping to save up enough so that when rates drop, they can snag the home they’ve been dreaming of. Airbnb is trying to make this easier.
Jesse Stein, Global Head of Real Estate at Airbnb, is no stranger to the world of hospitality. His background with hotels made him the perfect candidate to join Airbnb. Jesse comes on the show to talk about the short-term rental industry, where it’s heading, whether or not it’s growing, and a new type of “host” that Airbnb is trying to help create.
Jesse’s team at Airbnb has partnered with some of the largest apartment communities in the country to offer renters a deal that’s almost too good to pass up: the ability to rent their place while they’re away. Now, high-cash flow house hacking isn’t just reserved for homeowners, and a move like this could help with the wallet-crushing affordability issues we’ve talked about so many times on the show.
In This Episode We Cover:
Short-term rental market trends and why consumers are still spending so much on travel
Growing regulations and Airbnb’s response to cities cracking down on short-term subletting
The new “Airbnb?friendly apartments” that allow renters to house hack like never before
Renting vs. buying a home in 2023 and the savvier of the two choices
The rise of medium-term stays and why more renters are using Airbnb for longer trips
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
How To Start An Airbnb In 6 Easy Steps
House Hacking 101: What It Is and How to Get Started
Read the Airbnb Q3 Earnings Call Transcript
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-156
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