4 ms·

I have multiple friends that rent out rooms and ADUs to support their mortgages on Airbnb in their own home so they can afford to live near work. People should

by itake 4y ago

I have multiple friends that rent out rooms and ADUs to support their mortgages on Airbnb in their own home so they can afford to live near work. People should do what they want in their own home

mym1990 4y ago
Again, if you read my comment, you would understand that I think it is totally fine that humans are acting towards what is incentivized. But for those that see this behavior as detrimental, it is no use to point fingers at the owners of those properties, but instead to aim at the overarching structures.
- bruce511 4y ago
  In concept Airbnb is fine. Renting out spare rooms, renting unused time on your holiday pad at Cape cod, all make complete sense. It's making more space available, at a cheaper rate, while maximizing utilisation, and return, on an existing asset. Equally there's some place for buy-to-rent investing to exist. There is, and will always be, a segment of the population who cannot, or doesn't want to, buy and this segment rely on rental for housing. If there was no invest-to-rent then that segment would be homeless. The problem happens when there's an imbalance. When there's too much Airbnb (like Barcelona), locals get squeezed out of their own city. Some supply is good, too much is bad. The solution to this is regulation. By regulating supply (prioritize in-home, limited permits for others etc) one can balance the three markets such that ultimately everyone wins.
  - mym1990 4y ago
    Agreed, I would say once the threshold was crossed where people specifically sought out to buy 2-10 properties in different cities to make a business out of it, it was time to scale back. Renting a room in a place one lives or while one is on vacation seems reasonable enough.
    - elguyosupremo 4y ago
      I think short-term rental rules really need to be determined on a community by community basis. In some places (like beach towns, or ski resorts) it might be ok to have 50% (just pulling that number out of nowhere) houses be short-term rentals. In NYC or San Francisco it might make more sense to limit short-term rentals more (a certain number of nights per unit per year), the policing of such a policy though, oi!
      - vanilla_nut 4y ago
        Tricky. I live in a region that contains a lot of ski communities. AirBnB has trashed the rental market. I'm working on a deep-dive blog post on this, but basically local blue collar workers are being squeezed out entirely by short term rentals. I work remotely in tech, but I want to continue living here year-round, contributing to the community. Short term rentals are simply too lucrative compared to owning and long term renting. Much of this is the government's fault -- the tax system has a lot of loopholes, like mortgage interest deductions, depreciation, business cost deductions, and untaxed fees that make short term renting even mire lucrative. I hope the government steps in soon to remedy this, but considering their response to the housing crises in the past I am not hopeful.
- deleted 4y ago
  [deleted]

by itake 4y ago

I have multiple friends that rent out rooms and ADUs to support their mortgages on Airbnb in their own home so they can afford to live near work. People should do what they want in their own home

mym1990 4y ago

Again, if you read my comment, you would understand that I think it is totally fine that humans are acting towards what is incentivized. But for those that see this behavior as detrimental, it is no use to point fingers at the owners of those properties, but instead to aim at the overarching structures.

bruce511 4y ago
In concept Airbnb is fine. Renting out spare rooms, renting unused time on your holiday pad at Cape cod, all make complete sense. It's making more space available, at a cheaper rate, while maximizing utilisation, and return, on an existing asset. Equally there's some place for buy-to-rent investing to exist. There is, and will always be, a segment of the population who cannot, or doesn't want to, buy and this segment rely on rental for housing. If there was no invest-to-rent then that segment would be homeless. The problem happens when there's an imbalance. When there's too much Airbnb (like Barcelona), locals get squeezed out of their own city. Some supply is good, too much is bad. The solution to this is regulation. By regulating supply (prioritize in-home, limited permits for others etc) one can balance the three markets such that ultimately everyone wins.
- mym1990 4y ago
  Agreed, I would say once the threshold was crossed where people specifically sought out to buy 2-10 properties in different cities to make a business out of it, it was time to scale back. Renting a room in a place one lives or while one is on vacation seems reasonable enough.
  - elguyosupremo 4y ago
    I think short-term rental rules really need to be determined on a community by community basis. In some places (like beach towns, or ski resorts) it might be ok to have 50% (just pulling that number out of nowhere) houses be short-term rentals. In NYC or San Francisco it might make more sense to limit short-term rentals more (a certain number of nights per unit per year), the policing of such a policy though, oi!
    - vanilla_nut 4y ago
      Tricky. I live in a region that contains a lot of ski communities. AirBnB has trashed the rental market. I'm working on a deep-dive blog post on this, but basically local blue collar workers are being squeezed out entirely by short term rentals. I work remotely in tech, but I want to continue living here year-round, contributing to the community. Short term rentals are simply too lucrative compared to owning and long term renting. Much of this is the government's fault -- the tax system has a lot of loopholes, like mortgage interest deductions, depreciation, business cost deductions, and untaxed fees that make short term renting even mire lucrative. I hope the government steps in soon to remedy this, but considering their response to the housing crises in the past I am not hopeful.
deleted 4y ago
[deleted]