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363. The History of Vacation Rentals: Back to School with Brumby McLeod, Ph.D.

May 30, 2024

Brumby McLeod, Ph.D., an expert in vacation rentals, discusses the industry's evolution from offline to digital hosting. Topics include Airbnb's impact, stakeholder opposition, and creating solutions for the industry. The podcast explores the history of vacation rentals, their impact on communities, tax implications, and the evolving trends in real estate investment post-COVID.

53:18

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Brumby McLeod

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Quick takeaways

The podcast delves into the historical evolution of vacation rentals from traditional family homes to the digital age dominated by hosting platforms like Airbnb.

Brumby McLeod's research highlights the diverse stakeholders in the vacation rental industry and the importance of analyzing data to address their concerns.

Dr. McLeod emphasizes the need for neutrality in research to understand various perspectives and create solutions beneficial to government, investors, hosts, and renters.

The shift towards direct booking strategies by hosts aims to reduce dependency on platforms like Airbnb and enhance guest verification processes through tools like Know Your Guest by Superhog.

Future trends in the vacation rental sector suggest a focus on community engagement, evolving property types, regulatory challenges, and the enduring appeal of transient rentals.

Deep dives

The Shift to Direct Booking Strategy

Many hosts are transitioning to boost their direct booking strategy and reduce reliance on platforms like Airbnb. To verify guests booking directly, the utilization of Know Your Guest by Superhog has provided peace of mind. By seamlessly introducing guest screenings into the reservation process, authenticity is ensured across various databases to prevent fraud and unwanted parties.

Introduction

2min

Unlocking Steep Discounts for Short-Term Rentals with Minoan

2min

Highlighting a Dog-Friendly Vacation Rental Host and a Thoughtful Quote

3min

Exploring the Evolution of Vacation Rentals with an Academic Expert

2min

Exploring the Evolution of Vacation Rentals

21min

Analysis of Airbnb Fees, Hostley's Savings, and Property Hosting Debates

4min

The Evolution of Short-Term Rentals and Real Estate Investment

17min

Research Discussion with Brumbi McLeod, Ph.D. and Closing Remarks

2min

Today’s expert guest is the ultra-informed researcher and short-term rental historian, Brumby McLeod, Ph.D., an associate professor at the College of Charleston, School of Business in the Department of Hospitality & Tourism Management.

He is also a research fellow with the Office of Tourism Analysis and the Riley Center for Livable Communities. The focus of his research is in overnight accommodation with a primary focus on housing, short-term rentals, and tourism.

Dr. McLeod walks us through the length of his career spent studying the many complex nuances of the vacation rental industry – from the offline family vacation homes of decades past, all the way to the explosion of digital hosting providers, and into the future.

Going back to school, even just for one day, we pepper Dr. McLeod with questions about how Airbnb disrupted his research, whether or not the data tells a positive or negative story in vacation communities, which stakeholders are the most vocal in opposition to STR expansion, and so much more.

A true academic, Brumby is so good at remaining neutral. He gets excited seeing everyone's point of views and then putting them together so he can create research and solutions for various aspects of the industry – whether it's small government, investors, hosts, or renters themselves.

(00:01:24) #STRShareSunday: @lazy_pines_cabins

(00:03:21) Back to School with Brumby McLeod, Ph.D.

(00:17:51) Charting the Rise of STR Hosting Platforms

(00:22:35) STR Impact: Building vs. Decimating Communities

(00:27:02) Unpacking the Right to Bear Guests

(00:35:50) How Hosts Can Best Advocate for the Vacation Rental Industry

(00:39:39) Airbnbust? Brumby on the Future of Our Industry

Resources:

• Click here for full show notes

• Gary Keller: https://a.co/d/hFPmcFZ

• #STRShareSunday: @lazy_pines_cabins

• Video: Airbnb Market Shift | Thrive as a Host