3 ms·

> Reduces housing supply I am a bit confused about this one. AirBnB does not destroy buildings, and they don't keep places empty, empty buildings make no money

by GuB-42 5y ago

> Reduces housing supply I am a bit confused about this one. AirBnB does not destroy buildings, and they don't keep places empty, empty buildings make no money. In fact, before it started to be used as pseudo-hotels, it was a way for people to monetize the time they don't spend at home by having a tenant. I mean, before AirBnB, where were travelers staying? Hotels are the obvious answer, but AFAIK hotels still have customers. So what is happening? Are there more travelers than before (outside of pandemics)? Not saying that there is no problem with AirBnB, but it shouldn't reduce housing supply unless there is some deeper underlying problem.

hermitdev 5y ago
It reduces the supply of long term housing. Units that would otherwise be up for sale or rent under a standard term rental are now being used as short term rentals
rrrrrrrrrrrryan 5y ago
Here in San Diego (a big tourist town), in recent years our hotel vacancy is rising, and rents are rising as well, as tourists flood into livable dwellings (Airbnbs). Further, hotel taxes used to fund a great deal of the city, but Airbnbs are not subject to the tax, so the city's finances are struggling as well. Personally I'm fine with Airbnbs, and I often stay in them myself when I travel, but if you own more than one Airbnb, you should probably be taxed (and regulated) similar to a hotel owner.
- kelnos 5y ago
  > Further, hotel taxes used to fund a great deal of the city, but Airbnbs are not subject to the tax, so the city's finances are struggling as well. That's really San Diego's fault, though. Many cities and states have classified Airbnbs as hotels for taxation purposes, or created new (taxed) categories specifically for them. For example, Hawaii charges a "transient accommodations tax" of 10.5%, as well as a general excise tax of 4%, and counties can add more to that if they want.
  - rrrrrrrrrrrryan 5y ago
    Yes, exactly my point.
cletus 5y ago
Your question here seems genuine so I really hate that people use downvotes as "I don't agree with this person" rather than a comment simply being disingenuous, trolling, full of unsubstantiated claims or otherwise low-quality. So here's an example of what I mean when I say "reduces housing supply" [1]: > However, since the onset of the coronavirus crisis the tourist leasing market has dried up, and landlords in the sector have reverted to advertising their properties on sites like Daft.ie > ... > In contrast, availability in the rental market has bounced, with 41 per cent more properties for rent nationally and 92 per cent more in Dublin. So by "reducing housing supply" I mean there are less units to rent or buy because existing supply has been taken off those markets to become illegal hotels. [1]: https://www.irishtimes.com/business/economy/pandemic-reveals-impact-of-airbnb-on-irish-rental-market-1.4335784 https://www.irishtimes.com/business/economy/pandemic-reveals...
kelnos 5y ago
I know people who have bought properties specifically to put them on Airbnb, 24/7/365. They believe that they can get more money out of the property that way than if they put it up for a more traditional long-term rental. If it weren't for Airbnb, they wouldn't have bothered, and those properties would likely have ended up being bought as a primary residence or leased as a long-term rental home. I don't think most people object to the idea of people (short-term) renting out a room in the place where they live, or even renting out their in-law unit, or (perhaps slightly more controversially) renting out a vacation home while they aren't there. But turning a residential property into a year-round short-stay hotel does indeed reduce the housing supply. Not sure how to answer your question about hotels. I don't know if business is worse for them, or if there are indeed more travelers than before.

by GuB-42 5y ago

hermitdev 5y ago

It reduces the supply of long term housing. Units that would otherwise be up for sale or rent under a standard term rental are now being used as short term rentals

rrrrrrrrrrrryan 5y ago

Here in San Diego (a big tourist town), in recent years our hotel vacancy is rising, and rents are rising as well, as tourists flood into livable dwellings (Airbnbs). Further, hotel taxes used to fund a great deal of the city, but Airbnbs are not subject to the tax, so the city's finances are struggling as well. Personally I'm fine with Airbnbs, and I often stay in them myself when I travel, but if you own more than one Airbnb, you should probably be taxed (and regulated) similar to a hotel owner.

kelnos 5y ago
> Further, hotel taxes used to fund a great deal of the city, but Airbnbs are not subject to the tax, so the city's finances are struggling as well. That's really San Diego's fault, though. Many cities and states have classified Airbnbs as hotels for taxation purposes, or created new (taxed) categories specifically for them. For example, Hawaii charges a "transient accommodations tax" of 10.5%, as well as a general excise tax of 4%, and counties can add more to that if they want.
- rrrrrrrrrrrryan 5y ago
  Yes, exactly my point.

cletus 5y ago

Your question here seems genuine so I really hate that people use downvotes as "I don't agree with this person" rather than a comment simply being disingenuous, trolling, full of unsubstantiated claims or otherwise low-quality. So here's an example of what I mean when I say "reduces housing supply" [1]: > However, since the onset of the coronavirus crisis the tourist leasing market has dried up, and landlords in the sector have reverted to advertising their properties on sites like Daft.ie > ... > In contrast, availability in the rental market has bounced, with 41 per cent more properties for rent nationally and 92 per cent more in Dublin. So by "reducing housing supply" I mean there are less units to rent or buy because existing supply has been taken off those markets to become illegal hotels. [1]: https://www.irishtimes.com/business/economy/pandemic-reveals-impact-of-airbnb-on-irish-rental-market-1.4335784 https://www.irishtimes.com/business/economy/pandemic-reveals...

kelnos 5y ago

I know people who have bought properties specifically to put them on Airbnb, 24/7/365. They believe that they can get more money out of the property that way than if they put it up for a more traditional long-term rental. If it weren't for Airbnb, they wouldn't have bothered, and those properties would likely have ended up being bought as a primary residence or leased as a long-term rental home. I don't think most people object to the idea of people (short-term) renting out a room in the place where they live, or even renting out their in-law unit, or (perhaps slightly more controversially) renting out a vacation home while they aren't there. But turning a residential property into a year-round short-stay hotel does indeed reduce the housing supply. Not sure how to answer your question about hotels. I don't know if business is worse for them, or if there are indeed more travelers than before.