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In my city (Denver) where a lot of the Airbnb usage is event based (sports, conventions, concerts) I've noticed a rash of fully furnished rentals come on the ma
by jcomis 6y ago
In my city (Denver) where a lot of the Airbnb usage is event based (sports, conventions, concerts) I've noticed a rash of fully furnished rentals come on the market at just under market rates. These are clearly all former AirBnbs.
People are definitely having cashflow issues and I'm guessing many got their units through a ton of leverage and are now in a very bad spot.
- ganstyles 6y agoCompletely anecdotally, we were staying in an Airbnb for a week before shifting to a longer term rental. This was right when things were shutting down. Our Airbnb host told us that all their renters were cancelling for all their properties. They offered for us to stay essentially as long as we wanted for something like 50% of our rate. We unfortunately couldn't take advantage of that because of the aforementioned prior plans, but it was an interesting data point and would have saved a bunch.
- latchkey 6y agoI just looked around Berkeley craigslist yesterday. Tons of places available, month to month, that are mostly fully furnished and at high rents. A lot were nice cottage additions to houses. The rents are not dropping, yet, but it is clear that these were all AirBnB's.