What the crap? That fee is like 50 bucks. I would deep clean five houses to get 50 buck! Plus, it is your house, you’re the landlord, they are paying you for your work… Also that is just the best way to lose customers. Congrats, you’re now making less money because you have a two star rating! People are dumb…
They took a lesson from long term rental landlords who withhold part of your security deposit for "cleaning" when you deep cleaned the entire apartment top to bottom.
GOOD! Every Airbnb I stayed at always had some kind of issue. There was always a problem with checking in, with the AC unit, with the water, with owners dropping by to see what’s going on. Always something. With hotels, I don’t recall having too many issues. Sure you get some issues here and there but that’s not consistent or too huge. With hotels, not only can they accommodate my requests, I sometimes can find one with a complimentary breakfast, nice pool, nice jacuzzi, and a concierge service that provide tips on the local scene.
100%. I cant even remember last time I did an AirBnB. I think it was for a Bachelor Party. But aside from that (or a cabin in the woods) I’d rather do hotels again. I think ALOT of those Bnbs will go bust.
Didn't airbnb start out as a company where people could rent out their house when they were away? From my memory, it didn't start out as a way to make money on owning a home, but instead just making a little money on the side when you're on holiday
Yes. That was the plan. It was meant for vacation homes and rooms where the kids left the nest could have some use and make a little money. Not to buy a full house for ABnB. But people today love the side hustle jobs, and saw that ABnB had some of the best paying for side hustles, so they just tried to make a full time job, tho I think these jobs never worked as anything but side hustles.
NO, it started as a company where you could rent out an air mattress on your floor while you were there. That's why it's called AIR B N B. AIRMATRESS BED & BREAKFAST.
I can absolutely say I don’t feel bad for them at all! ABNB owners know exactly what they’re doing with that asset. They assume the risk when they do. It’s a risk you take, same as i would, but I have no sympathy when you’re squeezing other folks out of buying potential homes they just want to live in.
They didn't gentrify anything. They put cheap fixtures, no maintenance for years, and often modified the layouts of homes. The needs of a hotel guest are not the same as the needs of a resident. Fixtures need to work, repairs need to be done.
As an NYC resident I fully support requiring the host in the same building, ideally sharing a wall with the rental unit. You cannot bring irresponsible, noisy and potentially dangerous guests to a building and let the other tenants feel the burden. You bring a stranger to the building, you deal with the consequences. Not in NY, but in another city, I had to get the Abnb guests kicked out because they were partying at 4am.
Airbnb in NYC really worked for me but was inconvenient in Japan. It really depends on the city and the situation. So far I prefer hotels for vacations and travel. But for long-term stays, 2 weeks+ Airbnb is a better deal. And because you're there for a while, your incentivized to be respectful to the neighbors because you don't want a complaint called and have to find a new place to stay for the remainder of your trip.
The real question is why our government ever allowed "Airbnb" and Wall Street to unilaterally "re-zone" our neighborhood from residential to vacation business? America is supposed to have state and local governments not working for "Airbnb"/Wall Street, and we're supposed to have voters deciding local matters such as this as well.
my old complex had to change locks and implement new security measures cause a dumb airbnb guest decided to pick a fight with a local right outside our building
The "Airbnb" "trickle down" owners have been running roughshod over countless neighbors and communities. How people have been letting them get away with this is mind-boggling. They're not the majority and half the time they're not even residents at the one of their 50 "Airbnb" empire "homes." Many don't even live in the same state!
Why must it be the owner? Why not just agree to employ someone as a Host who stays there to meet and greet etc? The Government telling us all how to live our lives again?
@FangerZero Yes, hurts all home buyers, but definitely hurts first time home buyers the most. At least if you already own/mortage a property, not only has the property you're interested in increased in value, but the value of the property you are selling has likely gone up as well, to offset a decent chunk of the inflated cost.
I think the point is she was barely breaking even. Maybe she priced too high so she didn't have enough guests? Or maybe the $468 per day wasn't enough to offset the cost of cleaning, taxes, and all the other costs associated with running a air bnb property of that size.
The thing with RUclipsrs like Shelby Church, Graham Stephan and that ilk is that they are social media stars first and real world entrepreneurs second. It's not as important to them that their content gives good advice as it is that people watch and engage with the content.
@@nickstark8479or maybe she shouldn't have done expensive renovations to try to squeeze unrealistic amounts of money out of people. Seems like a stupid move on her part.
@traineewaden906 To be fair, I don't know the quality of the property or how many people it can house, but there are plenty of "premium" air bnb properties that go for tens of thousands per night - Being mansions of course. A price of $468 alone doesn't tell me whether it's over priced or under priced.
Wanting to be a hotel business without being a hotel drove up home prices like how car prices went up because a certain company wanted to be a taxi business without holding taxis or paying its drivers fairly.
in a city the number of properties on airbnb are maybe 5% even less then all homes not airbnb rises prices on popular vacation rontal yes but then again those are allways more expensive
@@burazfly what internet had to do wirh airbnb and home prices ? Guess You want censorship and comunism as a person that was born in comunism trust me îs not fun at all
@@burazfly There's already a department for that. Heard of the FTC? They should've taken care of those kinds of companies a long time ago, but big companies are gonna lawyer up however much they can and if that fails, just lobby the F out of our poor govts. I'm sure they need all the handouts they can get from the corpos getting govt handouts LOL
There's no evidence Airbnb lead to a significant change in house prices in the majority of cities. Housing shortages in many expensive cities are in the hundreds of thousands of units, the 3000-5000 airbnb units is a drop in the bucket.
I only stay at an AirBnB if it’s something unique like somebody’s farm, or a boutique tree house etc. After learning about the harm AirBnBs put on local home prices and service workers, the morality of renting one is questionable.
Airbnb is extremely immoral as you well said. Thanks for doing what you can to try to help alleviate the suffering and harm the Airbnb empires destroying housing affordability is causing hardworking local families.
I STOPPED using Airbnb altogether. Staying at Hilton is much cheaper and I get better perks than with an Airbnb. Not to mention, I never, ever, EVER found an Airbnb that offered a complimentary breakfast. I can easily find a hotel that not only will accommodate my requests, but they also offer a complimentary breakfast that comes in handy if I’m trying to save cash on food.
Before AirBnb became the hub for such locations, I stayed at a boutique short term rental cabin with my parents. It was just listed with hotels. I think that fact combined with the cabin being a passion project by the owners made it so they felt obligated to have good service even if they weren’t necessarily coming in to clean every day. They straight up replaced the TV and router the next day when they got fried by lightning one night, and they didn’t even have replacements on hand. They had to buy them.
No pity for the owners of these AirBNB, they took the risk for the profits. Now that it's turning against them they need to live with the consequences.
If they were losing business as a result of market changes, yeah I would agree with you. But it's hard to not feel bad for someone when the government starts going after your business.
I can only talk about NYC. When I attempted to list my apartment back in 2016, I saw the warning for the law which is now finally being enforced. So I can say that people who got into the business in the last 8 years definitely knew the “risk of enforcing the law”. Having said that, the real solution for high prices is to build housing faster if there is demand for buying, long term rental and short term rental.
Yeah, while they're making money it's, "we took a risk so we deserve the reward," but when the risk doesn't pan out, suddenly they shouldn't have to face the consequences of their actions.
What kills me is the fact that the listing can be a complete fabrication, and the only thing you can do is suffer through the stay and ding them "inaccurate description" afterward....
Reading Abnb listings and trying to figure out real/fake reviews had become a form of art for me. If the reviews are local people, it could be their local buddies. If the reviews are from international guests, pay attention to how many other places the guests stayed. If a place has very few reviews, let somebody else be the guinea pigs. Yeah, the best Abnb can do is to give you a refund and you may need to find a place at a late hour.
One thing you guys failed to mention. We live on a Spring feed river in Florida and think about the neighbor who lives next-door to one of these nightmares. We’ve had as many as 25 people staying next-door doing drugs, partying till 3 AM. It’s a sad situation, our two daughters are constantly woken up by the sounds next-door.
All you have to do is complain to Airband b and they will suspend the host or get the host to tell guests they broke house rules and airbnb will punish and suspend the host asap.
I had 2 nightmare scenarios (no running water or electricity because they didn't pay their bills and another house was condemned) that stood out so much compared to the many positive experiences I've had. Air BnB did 0 to help me and I didn't get a refund on either and the 'hosts' got angry for me leaving a not 5 star review. Hotels and legit bed and breakfast places only for me now.
"Hotels and legit bed and breakfast places only for me now.", same here. No chores to do, included breakfast, clean room everyday; hotels are the default on vacation
Same here. My only AirBnB experience was at a townhouse that had no working A/C during September in Virginia. Left it within an hour of arriving and the host harassed me because I left an honest review. Hotels only for me
We had the condemned house Airbnb experience in Boston about a decade ago and yeah we didn’t even get our money back, and we’re weren’t allowed to leave a review because we didn’t actually sleep there.
She purchased a house to list it on Airbnb... I have no sympathy for her or anyone like her. We need to stop viewing property as an investment. A home is one of the things in life that we actually need. Why are we letting this people keep doing this?
You have no concept of property rights. Why are we “letting them”? Who the heck are you to tell people what they can do with their money and property? Just because you can’t afford one? How dare you! You have no sympathy for someone who invests their hard earned money, in good faith and then laws change (by people like you) which scree them over. You’re ludicrous
Oh so you're against people being successful okay in that case then f****** get rid of 90% of what's in your house because it's built off of slave labor in other countries don't be a f****** hypocrite grow your own food and live off the land
Where? I’ve booked dozens of AirBNBs across Europe and have never once encountered “cleaning chores”. Are you guys actually checking the reviews before you book? I feel like people from these so-called horror stories are choosing the cheapest option they find (with no reviews) and then complaining when they find out it’s not a 5 star hotel.
I hope so. The people who own these places are RIDICULOUS. It’s much more worth it to use hotels these days. At least I don’t have to worry about what I touch and don’t touch.
Right? I have only used an AirBNB once, and it was the only option available if we wanted to see my brother graduate from college and I'd say that we had a good host, but I will not be booking AirBNBs again because I don't like how the company is strangling the housing market and I'd rather not have to do house chores while on vacation
The first couple of times I used AirBnB, it was cheaper than the hotels in the area. Now, it's way cheaper to get a nice hotel and they give me breakfast or offer room service.
Perhaps don't stay in particular airbnbs I've stayed in over 100 over the last decade and have never had an issue the most I've ever been asked to do is either just throw sheets or towels into the washer for time for them or mostly it's been taken out the garbage putting it in a certain bin or out on the street because of trash day other than that I've never been asked to clean
@@answerman9933There is a difference between owning property that you live in even part time (like a vacation home) that accrues value over time, and the nonsense that is happening now. Many landlords are actually corporations, private equity (you may have heard of their role in bankrupting beloved businesses for profit) has gotten involved and you have nonsense like this, where people think they can take homes from local people and use it as an investment, in the most exploitative way possible.
Remember when rich people complain about regulations and how oppressed they are, sometimes, but not always it’s because they can’t turn peoples homes into vacation rentals.
I don’t want to clean on vacation, I stopped doing airbnb as it didn’t meet what I wanted for my travel needs and the quality vs cost just doesn’t meet my expectation vs a hotel stay
Sounds more like you just didn't do the work I travel all the time and the only thing I've ever been asked was to throw towels in the washer one time because their housekeeper was running late and a few times they had rules with putting the garbage out at the street or taking the garbage out and putting it into the bin other than that I have never been asked to clean in the 115 or so airbnb's I've stayed in
I’m sorry but if you invested in a Airbnb rental and it doesn’t end up profitable, that’s part of investing. There’s no law that says that everything that everyone invests in HAS TO make money. Should have known the risk
It’s crazy that this video popped up today because I just checked out of an Air bnb within 2 hours of arriving because it was dirty and reeked of smoke. I will say (after speaking to more than 4 consultants), my issue was resolved through air bnb and they’ve fully refunded me. The hosts however were so rude and said they’d inspect the property the next day and declined a refund (even for that one evening) or giving us a different room (they own many properties in the building). The way the hosts responded was really the last straw for me and I think I’m going back to legit hotels and guesthouses that have health and safety standards.
Agreed, the one in California was just a cash grab. Take the money from the Airbnb hosts and put it in the pocket of greedy developers who are going to make very little low income housing but keep all the money.
Airbnb should be banned. Individuals are purchasing properties solely for Airbnb rentals. I'm glad hotel corporations are actively lobbying against this practice.
Both have there places, but ya. You should never ask your customers to vacuum the floor. That should be on the host. And two, a full house or rental solely for ABnB is a lot in the economy, let alone three. But if someone wants to ABnB their beach house when no in use, I don’t have a problem with that.
@@markkinz7913 actually this îs exact how IT works You are told ehat to do and not to do wirh your Private Propiety that îs If You even allowed to own Something at all
It's hilarious these people consider themselves "entrepreneurs". Had a co-worker quit his job stating he was "starting a business" and then he posts on LinkedIn what it was and it's just an AirBnB. Buddy, you took out a home loan and use an app. You're an gig worker.
I was going to book a two day stay at an airbnb but the “cleaning fee” made the two day cost nearly double the original asking price. Criminal we are just staying at a hotel and I don’t need to worry about anything
Or you can just find an Airbnb that doesn't charge to clean and fee or a ridiculous cleaning fee I travel and stay in about 20 airbnbs a year in addition to hotels and about 20% of them have no cleaning fee at all and rest of them have all been under $30 with a handful for really really big properties more expensive but to be expected
We rented a beachside Florida AirBnB condo a couple years ago over Easter weekend. The power kept cycling in and out, and I got an electrical shock in the shower. The owner couldn't get the electric looked at because it was a holiday weekend. We left early and stayed inland instead.
I still use AirBnBs when I'm with large groups, as I find a 3 bedroom house is easier and cheaper than like 3 hotel rooms. But I use it a lot less than when it was in its heyday, and I've had some bad experiences. I also dislike what it does to the housing market; I've seen multiple people buy homes just to AirBnB rent them, as opposed to long term rental or owner occupied. It's a symptom of a bigger problem of not building enough housing in general, but still a problem. I've never lived next to an AirBnB either but can imagine the frustration with that. I'm still in favor of the original intent of AirBnB; renting out like a room or a ADU/guest house on a property you actually live on, and it seems a lot of the local legislation is moving in this direction. In my city, the regulations and allowances for owner occupied rentals are much easier/less restrictive.
And that wasn't stopping anybody else from buying those same houses airbnb's if you put rentals and home owned occupied homes together airbnb's account for less than 1% or should I say short-term rentals all together account for less than 1% of the entire home ownership Market so prices and people not having a home or place to stay is minimally impacted by airbnbs there are far more things that impact
AirBnBs are illegal hotels operating in residential zones. This puts the profit making potential of a hotel in competition for actual residential units. AirBnBs should only work for owner-occupied units as it was intended, not buying up whole properties to operate as a hotel.
I have a couple of apartments on Airbnb and the truth is that investing on property just for this activity is plain stupid. If it is a “summer home” that you already payed for and you want it to pay its monthly expenses and minor maintenance it works like a charm, but if you seek to buy properties and have Airbnb to pay for it’s acquisition it’s not worth the risk. With the government increasing taxes (which I find good to balance the competition against hotels) and guests that can leave your place in terrible conditions, the best bet is to have a property that could work with a traditional rental if Airbnb or its model fails or is banned.
Ordinary homes and neighborhoods should not be hotels. Airbnbs have further exacerbated the high housing costs where I live and decreased quality of life for actual residents. The city has a bunch of regulations on paper but they're toothless (very low petty fines) nor the personnel necessary to actually enforce the law so most of the Airbnb's are openly flouting the law without a care in the world.
No they haven't in the United States their strongest market airbnb's and short-term rentals account for less than 1% of total homes it's hilarious how easily people are manipulated into thinking that short-term rentals is the cause for the housing crisis it's hilarious in fact
5:56 wouldn’t the over supply and hence lower demand disincentivize that on its own? Where I’m getting stuck is “we’ve got an over supply, so we’ve got to restrict the supply.” No you don’t. Demand will drop, short term rental will become less profitable, and people will either list those properties for long term rental or sell them.
Hmm as someone that watches your channel quite a bit, I’m a little disappointed with the bad reporting and obvious bias in this video. People forgot that short-term rentals make up 1% of the housing stock. It blows my mind that Airbnb hosts (usually mom and pops) are demonized so much more than other forms of real estate. Like hmm, I dk, hotels?! Lol. Hotel chains are billion dollar operations. And for some reason TikTok wants to get mad at me over the fact that I pay my cleaners $30/hour vs. $7.25/hour like most hotels. Anyway, sure, a lot of airbnb owners are hurting right now. But not because of an Airbnbust or because of oversaturation. It’s because they are shitty hosts. Plain and simple.
I will never do airbnb again! Fire hazard by AC condensation splashing onto electrical socket and I only got half of my money back even though I never stayed there because of issues. This was a week ago!
I don't think people should be allowed to have second or third properties to rent out on AirBNB, all it does it drive up the cost of living for everyone else. Same with corporations buying homes, or landlords reserving apartments for short term rentals vs leasing long term to people who actually live in the city. I was looking at places to stay in Philadelphia two summers ago and found out that one of the places I was looking at was someone's dorm room....needless to say I picked an actual hotel instead.
That's your choice but you can't really make a sound decision on if it's good or not without actually experiencing it for yourself no matter what you do you're always going to find nightmare Stories the short-term rentals versus hotels is always a joke because you'll hear people say airbnb's are terrible or they had a bad experience Etc yet the same thing can be said 4 hotels I've had great experiences in most places but I've also had a few poor experiences at hotels and airbnbs alike
@@Roll587 OK it’s pretty much assumed to be the same thing whether you stay with a group of people or if you were the one that actually booked it it’s just semantics, but that’s your fault. Most likely you didn’t know what to expect or you didn’t book a good one.
In Victoria bc, they're implementing a ban on shirt term rentals unless the host lives in the unit, and almost overnight when the new law was announced rent for new leases dropped almost 1k/m and the rental market was absolutely flooded with new listings
As an Angeleno, I’ve always had a negative view of Airbnb. There have been SO MANY news stories about landlords kicking out permeant tenants to rent short term. Housing prices here are already INSANE and this is just making the problem worse!
I try to get an Airbnb the other day. The rate was 100 dollars a night for two nights. The final prices was 360. Between cleaning fee and fee there was an extra 80 dollars a night. Plus I have to make the bed and take out the trash. No thanks I’ll go to a hotel where they do everything for me and it’s about the same price.
I booked an AirBNB listing that says 2 bedrooms for a friend and I. It only had 1 bedroom! I explained this to AirBNB and count only get some of my money back - $20 still went to AirBNB. And no punishment to the host for lying. That's messed up!
Airbnb has been a disaster in Australia too, especially outside of resort town that traditionally had numerous short-term rentals (and even there it has causes issues for residents). Turning a human necessity into a commodity can only go one way and it has. I'm glad this business model is softening. It needs to be restricted to places that primarily operate as holiday towns and have a small local population (or, you know, fail altogether. It's not like realestate agents didn't list the same offerings before Airbnb turned up). It's ruining cities and suburbs for liveability.
A really interesting piece! My wife & I are Airbnb hosts; we rent out our spare room to help cover our mortgage. We have our own bathroom & bedroom, but share the rest of our home. With a ~40% occupancy rate (by choice!) it covers our interest on our mortgage. A huge help! I think where it gets less suitable is when the whole property is rented out. My parents started renting out their old home near the beach on Airbnb in late 2020, thinking they could earn more than in a long-term rental. For them, it was a huge loss after paying for a cleaner each time, etc., and they had multiple bookings totally trash the house. In our experience in hosting, we’ve had extremely respectful guests. I think I would only ever consider hosting on Airbnb if I was living on-site. It makes sense on so many levels!
By nature it automatically filters out “destroyers”. Anybody planning to party or destroy the property will avoid your rental. However bring physically together under one roof forces you to be more selective. Like guests need enough ratings, good reviews, etc. Since you are not dying to rent your place, you have luxury to keep the occupancy rate lower and be more selective. That’s the best part.
@@chefnyc Precisely! We are fairly selective with who we allow to stay... That being said, we've probably only rejected 3 booking requests this year. The rest of our 'by choice' is by blocking out dates so that we have enough time with the house to ourselves/so that cleaning etc doesn't become too intrusive on our jobs...
My city passed an ordinance where the nearest 250 houses in the city or quarter mile for unincorporated areas. proposed site of an Airbnb have to get mailers and at least a 45% approval within 30 days before they allow the house to become an Airbnb, luckily you're able to go on the city website and vote that way as long as you show a picture of your ID with your current address to make sure it's a valid request.
We bought a house to suit our future needs. But at the moment, half of the space was unused so we converted the daylight basement into an airbnb. When I was watching videos about how to improve your listing, I was disgusted by the "influencers" who bought up 20+ properties to turn into airbnbs. I am not surprised people are upset about airbnbs contribution to increased housing prices, but I don't think an outright ban is appropriate. Airbnbs like ours take pressure off the short-term rental market without using up limited housing inventory.
Thank you. You are the type of people I like to see on ABnB. Just using already owned, unused space and trying to be nice about it. Not wasting your money on buying 10 houses and then complaining how you can’t make a profit. Had you thought about your cost/profits beforehand? And are you gonna realize your mistake, and put the house back on market so someone can have someplace to live, no. So, thanks for not being that guy. Hopes you keep up with your ABnB and get some income.
Regulations should add a limit to how many rental properties one can rent, if the objective is to make housing affordable again, it would mean airbnbers and landlords should only have 1-2 properties for that at most.
Force and prove you live in the home or max 1 other property. That is it. Would literally fix so many issues in the US. Hate people using homes as investment properties
The legislation should be on number of weeks per year. 8 weeks is ok, cause you can go on holiday and rent out your property while away. Anything more than that is a business and should be taxed as such, with appropriate regulations (insurance, fire safety, etc). That's how London does it.
Airbnb should’ve never have been allowed. They’re essentially motels which are a commercial use in the middle of quiet neighborhoods. That’s what zoning laws are for. It prevents people from opening car washes, theaters and MOTELS next to someone’s house. Communities will fight back, hence all the bans from areas plagued with Airbnb.
Unlike hotels though they have just now banned cameras from being used in public common areas, if you rent a bedroom in a house and not the whole entire house.
Haha...you are right about vacuuming floors at the end of an AirBnB stay!...practically needing to clean the whole house before leaving by 10AM in the morning... :(
Here is a good rule of thumb for anyone considering entrepreneurial opportunities. If social media influencers are pushing it, they're pushing it to millions of people, and by the time you'd be ready to set up shop, the market will likely be oversaturated. Oh, and those people selling courses to show how to do every money making opportunity from crypto to dropshipping, to selling on Amazon, to trading stocks? If their method is so good, why are they selling it to you and others effectively creating competition for themselves which will dwindle potential profits? I'll tell you why, because the lucrative timespan for that particular enterprise has likely already dwindled or in the skeezier cases, it never was. There's more money to be made selling that dream to others now than in actually doing it. As the old saying goes, don't just trust an influencer. You have to do your own research, esspecially if the financial outlay for your entrepreneurial vehicle is going to be substantial, and/or involve a loan to get it rolling.
My radar goes off when there's no barrier 🚧 to entry. Unfortunately it means you kinda have to be good at something really hard, dangerous, unappealing to actually do well in life. Something most others can't or are not willing to do.
Unless Airbnb goes back to its original state (a way for people to make money from unused rooms which allows people to get affordable accommodation) then I hope it dies off completely. The current state of being a luxurious accommodation is disgusting.
Airbnb will eventually go down the tubes. They do nothing for clients if a stay goes bad, for instance, not as described, safety issues, failed services like operating plumbing, you name it. I have been in Mexico for two years now, and I have had some terrible experiences, did Airbnb do anything? No, nothing. Mostly the what happens is someone buys a condo in one of the tourist areas, or in a popular city, and sets up shop. Time passes, and things age, but the pictures first taken when the unit was new do not. It's kinda like being catfished on a dating site, you don't know the stay is bad until you get there. I've experienced black mold, beds so worn I could not sleep, sewer smells, and a roach crawl across my face, all in Mexico Airbnb’s. Airbnb rentals in Mexico are a crapshoot. I lived in Thailand for six months, same model of operations there, EXCEPT, short term rentals, like Airbnb are against Thai law, yet, Airbnb operates in the market.
I would think that people living in a neighborhood would hate living next to a house used as an AirBnB with so many different people coming and going from the house.
Some of the cities near where I live (in California) do not allow Airb&b cause of the noise. Also, they say that a neighborhood full of rental homes is not really a neighborhood
@@zacharyhenderson2902Residential zoning laws are what keeps someone from putting a gas station, a car wash, a movie theater, or a MOTEL next your home. Airbnb’s are a commercial use cuz they are motels. They are rented out for parties, take up parking, make noise at night and leave trash. No one wants to live next to a motel in a residential neighborhood. Long term rentals are beholden to their leases which also have rules and regulations.
6:17 I like CA’s solution way better, but aren’t local zoning restrictions and nimbys the main thing stopping new home construction? Instead of taxing more, why not give an incentive to homeowners who live in “yimby zones” or something.
"I can't sustain my business of buying up places for people to permanently live and renting them out for higher prices than hotels!" Boo hoo. Airbnb was a good idea originallybut it's gone too far and people have taken it way left of what it was supposed to be.
Had a house on my street bought for an AirBnB. The best short term renters were a pornography production company. Everyone was polite and notified neighbors whenthere were going to be production vans coming. Luckily we have an HOA and were able to eventually show AirBnB that the homeowner was violating our guidelines. Because the rotating drug dealers who were the primary short term renters were constantly shooting at people and parking illegally. Not to mention the human trafficking. Sharing this story so people can know what type of people can be attracted to short term rentals.
California government: *Raises taxes to fund homes* Investors: *pretends to be normal people and buys them* *Cycle continues* This is exactly what is happening in Canada and I don't know how no enforcement at all happens until it becomes a problem for the stupid senators in office who probably have a hand in the game... Imagine settings rules to a game while participating in it... People who want change should really vote independent people in but you know... You have to be blue or red...
That's why they place a 5000 usd hold on your credit card. It's a great system, built on love and trust. But I just use a teenager's card so we just don't pay.
AirBnb has coverage. Last time I checked it was up to $1 million. However, keep in mind that there is still a separate insurance company involved. Until the claim is resolved, you cannot enter your own apartment. Think of it as “crime scene - do not pass” tape.
@@chefnyc yes, airbnb has "coverage" the problem is, they want me to send evidence that it was THESE guests who destroyed the place, but I don't have the cameras inside, because airbnb doesn't allow it, and airbnb "can't be sure" that the place was not trashed before these particular guests arrived. i have the option of going to court, but it's cheaper and faster for me to pay $10k in repairs, than to wait months for a court date that will only give me a chance of recovering the money.
Twice I tried to book an AirBnb in Australia for a popular weekend, and twice my request was ghosted by the provider. What hosts do is ignore requests while they progressively put up the price. When the number of requests slows to a trickle they know they're hit peak price, and allow a booking. Since I was rejected from AirBnB, I booked a traditional hotel. 5 minutes later I paid and had a confirmed room from a professional organisation, instead of who-knows-what private landlord that also charges cleaning fees.
Stayed at a few airbnbs on my honeymoon and was surprised at how rude and bitter some of the newly divorced landlords seemed. One lady was so mad that we were late checking in that she feigned a migraine and made her 10 year old son deal with us for our entire stay. We cleaned and made the bed in every place we stayed with some hosts locking the trash cans so you have to pack out garbage even camp sites have a dumpster, charges for things like the water level in the hottub (having no hose to refill it or dish soap for the kitchen) so you either go buy it or have to beg the landlord for assistance. Definitely lacking in hospitality for my dollar
I hosted an AirBnb listed house for a few years (I live in the house now), and yes I charged a cleaning fee but I never expected the guests to do anything other than place their dishes in the dish washer. I even stated this on the house's listing and I swear it helped me stay 80-100% booked compared to the rest of the area. Either charge a cleaning fee, or have the renters do the cleaning. You can't have both. I don't blame people moving back to traditional hotel/motels, especially if the stay is just for a short visit. AirBnBs should be reserved for special locations or for large families. The fact that apartments and small town-houses are trying to become AirBnBs is convincing me I made the right decision to leave the market before the bubble truly popped.
People should only be able to have 1 property that they can open for purpose of short term rentals. Drive up prices, ravage local community, and are always overpriced
4:28 with you till here, but I’ve never seen a convincing argument that these are the same apartments and the same prospective renters. I wonder as well if the people clamoring for restrictions on airbnb would support more home construction in general, which is the only reliable way to bring rents and home prices down.
i hate people that rent out houses when there's an actual homelessness situation. people can't afford to buy homes because rich people are hoarding and renting them.
The first time I stayed in an Airbnb, we were staying in a couples guest room in the apartment where they lived. For years, my parents would rent out my and my brothers rooms when we were away at college and the whole of my childhood house when they went out of town. That was a model that actually made sense for me. Was it for everyone? No. But it provided a new and useful element of the market.
I live in a country with a terrible housing shortage. We can only dream of housing being as 'affordable' as it is in the US. When I briefly lived in Canada, AirBNB was an affordable way for me to live in someone's spare room, for less than a standard rental term. In these cases, there might be a place for it. I disagree with cities/towns that have glut of short-term rental accommodation. It's really challenging for the people who live there...especially if it then needs lots of hospitality/retail workers to service all the visiting tourists.
I once was asked to clean the apartment. I told him it's cleaner than when I arrived. And that's it. And I had to pay the utilities above the airbnb price, which was hidden info on the listing
This video is so timely because it brings light to the reality of what many still don't want to see! Certain things you can't unsee (even if you want to turn a blind eye) and the facts in this video is one of them. There are several other opportunities to invest outside of Airbnb rentals. Many investors don't consider the impact it has on the neighbors as well as the lack of available homes for rent/live in. I'm definitely for making money, but not when it's going to hurt others in some kind of way and there several investors who think the same. Unfortunately, there are many who only care about the money! As always, great video, breakdown, and financial education that continues to inspire others like myself... Keep up the great job!
My neighborhood's HOA just passed a ban on short term rentals! The house that got flipped across the street from me was bringing in awful guests and the property went long-term in less than a year. The owners don't even live in my state! High flying investors don't even understand what they've done to themselves when they can drop a cool mil on a property unseen. The ROI did not imprees with that level of greed and I know those people lost more money than I can even conceive of.
I am a 20+yr resident in my town. Raised kids, supported this community and have loved living where I do. Until Mr. E arbitraged the large house near me. It has been nearly 2 years of problems and our quality of life, safety of my family, and our well being have declined to the point that I don't want to live here anymore. It feels like a battleground and my county has NO STR policies in place..NONE. Buncombe County NC- get your stuff together!
Back when AirBnBs used to ask me to clean, they were charging less than 25% of what a hotel would, basically on par with regular long-term renting. Before my arrival, I trusted AirBnB hosts' cleaning more than I trusted hotel cleaning even though hotels were more expensive; now that AirBnBs cost the same as hotels and use professional mass-cleaners, there is no upside vs hotels.
If you can afford it and want more space than a hotel room, just get two. Hotels will generally honor requests for both rooms to be as close to each other as possible, even if it requires one to get a minor upgrade like being switched to an accessible room. Even four star hotels can be less than $400/night with a double room setup!
I lived in airbnbs my first 3 years in Europe. Found great places in the US, Germany, and Croatia. Ita great for foreign countries because you can get a fully furnished apartment or house with utilities for a good monthly prices. Recently when Ive used it for shorter trips, it has been less than overwhelming..... Plus the cleaning fees cost more than the dang rooms sometimes!!
Living and working in Palm springs, CA here. Can confirm like 85% of the houses in the nice neighborhood I bike through are either short term rentals or unoccupied second homes for snowbirds. The neighborhoods are mostly empty, especially in the summer. I don't feel bad for these landlords but I don't blame them for trying to make a buck.
What about when a host just has like a little tiny home on their property that they Airbnb? Just like an old shed or garage? Is that a better scenerio?
I booked a holiday visiting a few places. I didn’t bother with ABnB and don’t have their app. Too high risk (hosts cancelling, issues, etc) and the cost not worth it.
It was good in the beginning but I find it's pretty terrible for past few years, and haven't booked one in ages. Only existing use case is if you need a house for a large group. Otherwise, I'm going straight to a hotel...I don't even bother to look anymore.
They must registre as hotel business, not tech business. Also every host must take license to run hotel, pay for very expensive insurance and ask every neighbor permission too. Very shitttty business
My friends like Airbnb because they feel like they are rejecting corporate hotels, I like hotels because i can do it last minute and don’t have to gain approval
I like how you frame local governmence like market corrections due to an oversupply of airbnbs (which in turn make normal housing unattainable). It felt like a fun econ 101 class that I wish I had.
The cleaning request after paying the cleaning fee sounds like pure madness
What the crap? That fee is like 50 bucks. I would deep clean five houses to get 50 buck! Plus, it is your house, you’re the landlord, they are paying you for your work… Also that is just the best way to lose customers. Congrats, you’re now making less money because you have a two star rating! People are dumb…
@K.C-2049 Yep, you get what you pay for. And since you do not pay your customers then you should not expect much.
You guys are really changing your appearance I hope everything's all right you don't seem to be emotionally stable
They took a lesson from long term rental landlords who withhold part of your security deposit for "cleaning" when you deep cleaned the entire apartment top to bottom.
@@delt2575worse, you pay them negative. Expect malicious compliance and sabotage.
I used to stay at AirBNBs because they were cheaper than hotels. For the most part it is no longer the case
until goverment took matter into its hands
GOOD!
Every Airbnb I stayed at always had some kind of issue.
There was always a problem with checking in, with the AC unit, with the water, with owners dropping by to see what’s going on.
Always something.
With hotels, I don’t recall having too many issues.
Sure you get some issues here and there but that’s not consistent or too huge.
With hotels, not only can they accommodate my requests, I sometimes can find one with a complimentary breakfast, nice pool, nice jacuzzi, and a concierge service that provide tips on the local scene.
100%. I cant even remember last time I did an AirBnB. I think it was for a Bachelor Party. But aside from that (or a cabin in the woods) I’d rather do hotels again. I think ALOT of those Bnbs will go bust.
When they raised their prices and added cleaning fees, it changed things for me.
100% agree bro@@dieterjacobs9350
Didn't airbnb start out as a company where people could rent out their house when they were away? From my memory, it didn't start out as a way to make money on owning a home, but instead just making a little money on the side when you're on holiday
Yes. That was the plan. It was meant for vacation homes and rooms where the kids left the nest could have some use and make a little money. Not to buy a full house for ABnB. But people today love the side hustle jobs, and saw that ABnB had some of the best paying for side hustles, so they just tried to make a full time job, tho I think these jobs never worked as anything but side hustles.
That business model just doesn't work, it started that way to get foothold without attracting too much scrutiny
NO, it started as a company where you could rent out an air mattress on your floor while you were there. That's why it's called AIR B N B. AIRMATRESS BED & BREAKFAST.
Yes. But just like everything else, the rich and the corporations have to come and ruin it with their greed. This is why we can’t have nice things.
@@mynameisjeff. exactly! airbed is literally in the name
AirBnB Owners gentrified the hell outta every city. They had profited a lot, while incentivizing the housing crisis. I can't say I feel bad for them.
I can absolutely say I don’t feel bad for them at all!
ABNB owners know exactly what they’re doing with that asset. They assume the risk when they do.
It’s a risk you take, same as i would, but I have no sympathy when you’re squeezing other folks out of buying potential homes they just want to live in.
They didn't gentrify anything. They put cheap fixtures, no maintenance for years, and often modified the layouts of homes. The needs of a hotel guest are not the same as the needs of a resident. Fixtures need to work, repairs need to be done.
We should have let Ukraine conscript AirBnB idiots back in 2021!
they are leeches
As an NYC resident I fully support requiring the host in the same building, ideally sharing a wall with the rental unit. You cannot bring irresponsible, noisy and potentially dangerous guests to a building and let the other tenants feel the burden. You bring a stranger to the building, you deal with the consequences. Not in NY, but in another city, I had to get the Abnb guests kicked out because they were partying at 4am.
Airbnb in NYC really worked for me but was inconvenient in Japan. It really depends on the city and the situation. So far I prefer hotels for vacations and travel. But for long-term stays, 2 weeks+ Airbnb is a better deal. And because you're there for a while, your incentivized to be respectful to the neighbors because you don't want a complaint called and have to find a new place to stay for the remainder of your trip.
The real question is why our government ever allowed "Airbnb" and Wall Street to unilaterally "re-zone" our neighborhood from residential to vacation business? America is supposed to have state and local governments not working for "Airbnb"/Wall Street, and we're supposed to have voters deciding local matters such as this as well.
my old complex had to change locks and implement new security measures cause a dumb airbnb guest decided to pick a fight with a local right outside our building
The "Airbnb" "trickle down" owners have been running roughshod over countless neighbors and communities. How people have been letting them get away with this is mind-boggling. They're not the majority and half the time they're not even residents at the one of their 50 "Airbnb" empire "homes." Many don't even live in the same state!
Why must it be the owner? Why not just agree to employ someone as a Host who stays there to meet and greet etc? The Government telling us all how to live our lives again?
Air BnB is one of the worse thing for new home buyers.
You mean home buyers period.
@FangerZero Yes, hurts all home buyers, but definitely hurts first time home buyers the most.
At least if you already own/mortage a property, not only has the property you're interested in increased in value, but the value of the property you are selling has likely gone up as well, to offset a decent chunk of the inflated cost.
no it's the corporations that are buying houses to rent them out dawg lol
this is a myth
You mean renters"
I can't sympathize with that host ie at 1:08 because she's expecting $468 per night. That's just...downright silly.
I think the point is she was barely breaking even.
Maybe she priced too high so she didn't have enough guests? Or maybe the $468 per day wasn't enough to offset the cost of cleaning, taxes, and all the other costs associated with running a air bnb property of that size.
The thing with RUclipsrs like Shelby Church, Graham Stephan and that ilk is that they are social media stars first and real world entrepreneurs second. It's not as important to them that their content gives good advice as it is that people watch and engage with the content.
@@scarpfish And that's why I never watch them.
@@nickstark8479or maybe she shouldn't have done expensive renovations to try to squeeze unrealistic amounts of money out of people. Seems like a stupid move on her part.
@traineewaden906 To be fair, I don't know the quality of the property or how many people it can house, but there are plenty of "premium" air bnb properties that go for tens of thousands per night - Being mansions of course.
A price of $468 alone doesn't tell me whether it's over priced or under priced.
Wanting to be a hotel business without being a hotel drove up home prices like how car prices went up because a certain company wanted to be a taxi business without holding taxis or paying its drivers fairly.
in a city the number of properties on airbnb are maybe 5% even less then all homes not airbnb rises prices on popular vacation rontal yes but then again those are allways more expensive
Yes internet needs breaks, not more rights and amendments
As currently its state of an anarchy that nobody has benefit from
@@burazfly what internet had to do wirh airbnb and home prices ? Guess You want censorship and comunism as a person that was born in comunism trust me îs not fun at all
@@burazfly There's already a department for that. Heard of the FTC? They should've taken care of those kinds of companies a long time ago, but big companies are gonna lawyer up however much they can and if that fails, just lobby the F out of our poor govts. I'm sure they need all the handouts they can get from the corpos getting govt handouts LOL
There's no evidence Airbnb lead to a significant change in house prices in the majority of cities. Housing shortages in many expensive cities are in the hundreds of thousands of units, the 3000-5000 airbnb units is a drop in the bucket.
I only stay at an AirBnB if it’s something unique like somebody’s farm, or a boutique tree house etc. After learning about the harm AirBnBs put on local home prices and service workers, the morality of renting one is questionable.
Airbnb is extremely immoral as you well said. Thanks for doing what you can to try to help alleviate the suffering and harm the Airbnb empires destroying housing affordability is causing hardworking local families.
I STOPPED using Airbnb altogether.
Staying at Hilton is much cheaper and I get better perks than with an Airbnb.
Not to mention, I never, ever, EVER found an Airbnb that offered a complimentary breakfast.
I can easily find a hotel that not only will accommodate my requests, but they also offer a complimentary breakfast that comes in handy if I’m trying to save cash on food.
@steverogers7601 exactly. Hotels give you breakfast.
@steverogers7601 you get perks with hotels
Before AirBnb became the hub for such locations, I stayed at a boutique short term rental cabin with my parents. It was just listed with hotels. I think that fact combined with the cabin being a passion project by the owners made it so they felt obligated to have good service even if they weren’t necessarily coming in to clean every day. They straight up replaced the TV and router the next day when they got fried by lightning one night, and they didn’t even have replacements on hand. They had to buy them.
No pity for the owners of these AirBNB, they took the risk for the profits. Now that it's turning against them they need to live with the consequences.
If they were losing business as a result of market changes, yeah I would agree with you. But it's hard to not feel bad for someone when the government starts going after your business.
I can only talk about NYC. When I attempted to list my apartment back in 2016, I saw the warning for the law which is now finally being enforced. So I can say that people who got into the business in the last 8 years definitely knew the “risk of enforcing the law”. Having said that, the real solution for high prices is to build housing faster if there is demand for buying, long term rental and short term rental.
@@MEWJr90 what are you talking about? I don't have any airbnbs
Yeah, while they're making money it's, "we took a risk so we deserve the reward," but when the risk doesn't pan out, suddenly they shouldn't have to face the consequences of their actions.
@@zacharyhenderson2902”going after your business” LMAO
What kills me is the fact that the listing can be a complete fabrication, and the only thing you can do is suffer through the stay and ding them "inaccurate description" afterward....
Reading Abnb listings and trying to figure out real/fake reviews had become a form of art for me. If the reviews are local people, it could be their local buddies. If the reviews are from international guests, pay attention to how many other places the guests stayed. If a place has very few reviews, let somebody else be the guinea pigs. Yeah, the best Abnb can do is to give you a refund and you may need to find a place at a late hour.
One thing you guys failed to mention. We live on a Spring feed river in Florida and think about the neighbor who lives next-door to one of these nightmares. We’ve had as many as 25 people staying next-door doing drugs, partying till 3 AM. It’s a sad situation, our two daughters are constantly woken up by the sounds next-door.
All you have to do is complain to Airband b and they will suspend the host or get the host to tell guests they broke house rules and airbnb will punish and suspend the host asap.
I had 2 nightmare scenarios (no running water or electricity because they didn't pay their bills and another house was condemned) that stood out so much compared to the many positive experiences I've had. Air BnB did 0 to help me and I didn't get a refund on either and the 'hosts' got angry for me leaving a not 5 star review. Hotels and legit bed and breakfast places only for me now.
Oof. 😥
"Hotels and legit bed and breakfast places only for me now.", same here. No chores to do, included breakfast, clean room everyday; hotels are the default on vacation
Same here. My only AirBnB experience was at a townhouse that had no working A/C during September in Virginia. Left it within an hour of arriving and the host harassed me because I left an honest review. Hotels only for me
Should’ve called your credit card provider and reported fraud
We had the condemned house Airbnb experience in Boston about a decade ago and yeah we didn’t even get our money back, and we’re weren’t allowed to leave a review because we didn’t actually sleep there.
She purchased a house to list it on Airbnb... I have no sympathy for her or anyone like her. We need to stop viewing property as an investment. A home is one of the things in life that we actually need. Why are we letting this people keep doing this?
You're absolutely right.
You have no concept of property rights. Why are we “letting them”? Who the heck are you to tell people what they can do with their money and property? Just because you can’t afford one? How dare you!
You have no sympathy for someone who invests their hard earned money, in good faith and then laws change (by people like you) which scree them over. You’re ludicrous
Oh so you're against people being successful okay in that case then f****** get rid of 90% of what's in your house because it's built off of slave labor in other countries don't be a f****** hypocrite grow your own food and live off the land
@@iluomobravoI have no sympathy for people who fuck over people trying to buy a place to live just to run a shitty b&b.
@@iluomobravoIf you want an investment, throw it into index funds like a normal person.
They charge a huge cleaning fee and then you are required to do a whole list of cleaning chores. It’s stupid!
Where? I’ve booked dozens of AirBNBs across Europe and have never once encountered “cleaning chores”. Are you guys actually checking the reviews before you book? I feel like people from these so-called horror stories are choosing the cheapest option they find (with no reviews) and then complaining when they find out it’s not a 5 star hotel.
The fee is for cleaning after guest leaves. People compare Airbnb with Hotels and shouldn't
I hope so. The people who own these places are RIDICULOUS. It’s much more worth it to use hotels these days. At least I don’t have to worry about what I touch and don’t touch.
"Please pay me money to clean my house". It's so ridiculous.
Right? I have only used an AirBNB once, and it was the only option available if we wanted to see my brother graduate from college and I'd say that we had a good host, but I will not be booking AirBNBs again because I don't like how the company is strangling the housing market and I'd rather not have to do house chores while on vacation
The first couple of times I used AirBnB, it was cheaper than the hotels in the area. Now, it's way cheaper to get a nice hotel and they give me breakfast or offer room service.
I’m betting you are one of the party animals that destroy and steal from the homes aren’t you!😮
Perhaps don't stay in particular airbnbs I've stayed in over 100 over the last decade and have never had an issue the most I've ever been asked to do is either just throw sheets or towels into the washer for time for them or mostly it's been taken out the garbage putting it in a certain bin or out on the street because of trash day other than that I've never been asked to clean
Society has turned homes into investments which is completely paradoxical.
Home ownership has always been a investment. With a home, a person no longer has to pay rent.
And what do you mean by completely paradoxical?
@@answerman9933i think op is saying more people and corporations buying homes for their speculative value instead of just somewhere to actually live
@@answerman9933There is a difference between owning property that you live in even part time (like a vacation home) that accrues value over time, and the nonsense that is happening now. Many landlords are actually corporations, private equity (you may have heard of their role in bankrupting beloved businesses for profit) has gotten involved and you have nonsense like this, where people think they can take homes from local people and use it as an investment, in the most exploitative way possible.
@@venicec3310and there’s nothing new about that either
As usual, this is yet another business that started as a good idea but was ruined by people's greed.
goverment and people not planning for things
Yep I hate the fact that people are buying properties for the sole purpose of running as an air bnb. So so wrong.
Remember when rich people complain about regulations and how oppressed they are, sometimes, but not always it’s because they can’t turn peoples homes into vacation rentals.
everybody is not rich person, they are everyday joe, that saved and trying to make some extra income
@5daysofcoffee. Remember how new homes in some areas are being often delayed because of regulations, thus driving up prices of existing homes.
@@answerman9933the fact that zoning laws suck does not negate the fact that rich people buying homes purely to rent out is a problem.
Greed is one hell of a drug
Agreed, greedy governments taking away more property rights. Yuck 🤮
Wanting money isn’t a bad thing.
Being greedy, being deceptive, screwing others for your own gain and hoarding it all is a bad thing.
I don’t want to clean on vacation, I stopped doing airbnb as it didn’t meet what I wanted for my travel needs and the quality vs cost just doesn’t meet my expectation vs a hotel stay
Sounds more like you just didn't do the work I travel all the time and the only thing I've ever been asked was to throw towels in the washer one time because their housekeeper was running late and a few times they had rules with putting the garbage out at the street or taking the garbage out and putting it into the bin other than that I have never been asked to clean in the 115 or so airbnb's I've stayed in
You should of employed a Cleaner!
Beach houses, lake houses, they all expected a cleaned fridge, cleaned kitchen, trash out, beds stripped and towels in the wash.
@@GrowinmyownwayI think that’s too much. I think towels in the laundry basket and trash out should be enough.
I’m sorry but if you invested in a Airbnb rental and it doesn’t end up profitable, that’s part of investing. There’s no law that says that everything that everyone invests in HAS TO make money. Should have known the risk
It’s crazy that this video popped up today because I just checked out of an Air bnb within 2 hours of arriving because it was dirty and reeked of smoke. I will say (after speaking to more than 4 consultants), my issue was resolved through air bnb and they’ve fully refunded me. The hosts however were so rude and said they’d inspect the property the next day and declined a refund (even for that one evening) or giving us a different room (they own many properties in the building). The way the hosts responded was really the last straw for me and I think I’m going back to legit hotels and guesthouses that have health and safety standards.
The New York law seems very reasonable. I have no sympathy for people renting out additional properties.
Agreed, the one in California was just a cash grab. Take the money from the Airbnb hosts and put it in the pocket of greedy developers who are going to make very little low income housing but keep all the money.
Agreed!
Don’t tell us your woes of owning a rental property, You knew the risks, or should have educated yourself.
Airbnb should be banned. Individuals are purchasing properties solely for Airbnb rentals. I'm glad hotel corporations are actively lobbying against this practice.
Hotels suck.
Both have there places, but ya. You should never ask your customers to vacuum the floor. That should be on the host. And two, a full house or rental solely for ABnB is a lot in the economy, let alone three. But if someone wants to ABnB their beach house when no in use, I don’t have a problem with that.
@@pentrubarbati That's not how communism works.
@@markkinz7913 actually this îs exact how IT works You are told ehat to do and not to do wirh your Private Propiety that îs If You even allowed to own Something at all
People just want cheap stays and they don’t mind cleaning up after themselves.
To answer the question posed by the video title: God, I really hope so.
Me too!!
Oh no, "entrepreneurs" made an investment that isn't panning out? It's almost as if investing comes with risks. Poor things....
It's hilarious these people consider themselves "entrepreneurs". Had a co-worker quit his job stating he was "starting a business" and then he posts on LinkedIn what it was and it's just an AirBnB. Buddy, you took out a home loan and use an app. You're an gig worker.
I was going to book a two day stay at an airbnb but the “cleaning fee” made the two day cost nearly double the original asking price. Criminal we are just staying at a hotel and I don’t need to worry about anything
Or you can just find an Airbnb that doesn't charge to clean and fee or a ridiculous cleaning fee I travel and stay in about 20 airbnbs a year in addition to hotels and about 20% of them have no cleaning fee at all and rest of them have all been under $30 with a handful for really really big properties more expensive but to be expected
We rented a beachside Florida AirBnB condo a couple years ago over Easter weekend. The power kept cycling in and out, and I got an electrical shock in the shower. The owner couldn't get the electric looked at because it was a holiday weekend. We left early and stayed inland instead.
i dont like airbnb anymore. Having to be my own cleaner is a little crazy as well as having a long list of rules.
that's varies host to host not airbnb
I still use AirBnBs when I'm with large groups, as I find a 3 bedroom house is easier and cheaper than like 3 hotel rooms. But I use it a lot less than when it was in its heyday, and I've had some bad experiences. I also dislike what it does to the housing market; I've seen multiple people buy homes just to AirBnB rent them, as opposed to long term rental or owner occupied. It's a symptom of a bigger problem of not building enough housing in general, but still a problem. I've never lived next to an AirBnB either but can imagine the frustration with that. I'm still in favor of the original intent of AirBnB; renting out like a room or a ADU/guest house on a property you actually live on, and it seems a lot of the local legislation is moving in this direction. In my city, the regulations and allowances for owner occupied rentals are much easier/less restrictive.
And that wasn't stopping anybody else from buying those same houses airbnb's if you put rentals and home owned occupied homes together airbnb's account for less than 1% or should I say short-term rentals all together account for less than 1% of the entire home ownership Market so prices and people not having a home or place to stay is minimally impacted by airbnbs there are far more things that impact
AirBnBs are illegal hotels operating in residential zones. This puts the profit making potential of a hotel in competition for actual residential units. AirBnBs should only work for owner-occupied units as it was intended, not buying up whole properties to operate as a hotel.
I have a couple of apartments on Airbnb and the truth is that investing on property just for this activity is plain stupid. If it is a “summer home” that you already payed for and you want it to pay its monthly expenses and minor maintenance it works like a charm, but if you seek to buy properties and have Airbnb to pay for it’s acquisition it’s not worth the risk. With the government increasing taxes (which I find good to balance the competition against hotels) and guests that can leave your place in terrible conditions, the best bet is to have a property that could work with a traditional rental if Airbnb or its model fails or is banned.
Ordinary homes and neighborhoods should not be hotels. Airbnbs have further exacerbated the high housing costs where I live and decreased quality of life for actual residents. The city has a bunch of regulations on paper but they're toothless (very low petty fines) nor the personnel necessary to actually enforce the law so most of the Airbnb's are openly flouting the law without a care in the world.
No they haven't in the United States their strongest market airbnb's and short-term rentals account for less than 1% of total homes it's hilarious how easily people are manipulated into thinking that short-term rentals is the cause for the housing crisis it's hilarious in fact
5:56 wouldn’t the over supply and hence lower demand disincentivize that on its own? Where I’m getting stuck is “we’ve got an over supply, so we’ve got to restrict the supply.” No you don’t. Demand will drop, short term rental will become less profitable, and people will either list those properties for long term rental or sell them.
Hmm as someone that watches your channel quite a bit, I’m a little disappointed with the bad reporting and obvious bias in this video.
People forgot that short-term rentals make up 1% of the housing stock.
It blows my mind that Airbnb hosts (usually mom and pops) are demonized so much more than other forms of real estate. Like hmm, I dk, hotels?! Lol. Hotel chains are billion dollar operations. And for some reason TikTok wants to get mad at me over the fact that I pay my cleaners $30/hour vs. $7.25/hour like most hotels.
Anyway, sure, a lot of airbnb owners are hurting right now. But not because of an Airbnbust or because of oversaturation. It’s because they are shitty hosts. Plain and simple.
100% this!
Hey Rob, where did you get that 1% figure? Thanks!
I will never do airbnb again! Fire hazard by AC condensation splashing onto electrical socket and I only got half of my money back even though I never stayed there because of issues. This was a week ago!
I don't think people should be allowed to have second or third properties to rent out on AirBNB, all it does it drive up the cost of living for everyone else. Same with corporations buying homes, or landlords reserving apartments for short term rentals vs leasing long term to people who actually live in the city. I was looking at places to stay in Philadelphia two summers ago and found out that one of the places I was looking at was someone's dorm room....needless to say I picked an actual hotel instead.
There are several cities here in Texas that have banned short term rentals as well
I have never booked an Airbnb and have no interest in doing so.
You and me both.
That's your choice but you can't really make a sound decision on if it's good or not without actually experiencing it for yourself no matter what you do you're always going to find nightmare Stories the short-term rentals versus hotels is always a joke because you'll hear people say airbnb's are terrible or they had a bad experience Etc yet the same thing can be said 4 hotels I've had great experiences in most places but I've also had a few poor experiences at hotels and airbnbs alike
@@aaronlimitless I said I haven't booked one, not that I haven't stayed in one. I have stayed in them twice and hated it.
@@Roll587 OK it’s pretty much assumed to be the same thing whether you stay with a group of people or if you were the one that actually booked it it’s just semantics, but that’s your fault. Most likely you didn’t know what to expect or you didn’t book a good one.
In Victoria bc, they're implementing a ban on shirt term rentals unless the host lives in the unit, and almost overnight when the new law was announced rent for new leases dropped almost 1k/m and the rental market was absolutely flooded with new listings
As an Angeleno, I’ve always had a negative view of Airbnb. There have been SO MANY news stories about landlords kicking out permeant tenants to rent short term. Housing prices here are already INSANE and this is just making the problem worse!
I try to get an Airbnb the other day. The rate was 100 dollars a night for two nights. The final prices was 360. Between cleaning fee and fee there was an extra 80 dollars a night. Plus I have to make the bed and take out the trash. No thanks I’ll go to a hotel where they do everything for me and it’s about the same price.
I booked an AirBNB listing that says 2 bedrooms for a friend and I. It only had 1 bedroom! I explained this to AirBNB and count only get some of my money back - $20 still went to AirBNB. And no punishment to the host for lying. That's messed up!
I was host and guest, and in both cases, had very unpleasant two experiences. Customer service has been even worse than experiences.
Airbnb has been a disaster in Australia too, especially outside of resort town that traditionally had numerous short-term rentals (and even there it has causes issues for residents).
Turning a human necessity into a commodity can only go one way and it has. I'm glad this business model is softening. It needs to be restricted to places that primarily operate as holiday towns and have a small local population (or, you know, fail altogether. It's not like realestate agents didn't list the same offerings before Airbnb turned up). It's ruining cities and suburbs for liveability.
A really interesting piece! My wife & I are Airbnb hosts; we rent out our spare room to help cover our mortgage. We have our own bathroom & bedroom, but share the rest of our home. With a ~40% occupancy rate (by choice!) it covers our interest on our mortgage. A huge help! I think where it gets less suitable is when the whole property is rented out.
My parents started renting out their old home near the beach on Airbnb in late 2020, thinking they could earn more than in a long-term rental. For them, it was a huge loss after paying for a cleaner each time, etc., and they had multiple bookings totally trash the house.
In our experience in hosting, we’ve had extremely respectful guests. I think I would only ever consider hosting on Airbnb if I was living on-site. It makes sense on so many levels!
By nature it automatically filters out “destroyers”. Anybody planning to party or destroy the property will avoid your rental. However bring physically together under one roof forces you to be more selective. Like guests need enough ratings, good reviews, etc. Since you are not dying to rent your place, you have luxury to keep the occupancy rate lower and be more selective. That’s the best part.
@@chefnyc Precisely! We are fairly selective with who we allow to stay... That being said, we've probably only rejected 3 booking requests this year. The rest of our 'by choice' is by blocking out dates so that we have enough time with the house to ourselves/so that cleaning etc doesn't become too intrusive on our jobs...
My city passed an ordinance where the nearest 250 houses in the city or quarter mile for unincorporated areas. proposed site of an Airbnb have to get mailers and at least a 45% approval within 30 days before they allow the house to become an Airbnb, luckily you're able to go on the city website and vote that way as long as you show a picture of your ID with your current address to make sure it's a valid request.
We bought a house to suit our future needs. But at the moment, half of the space was unused so we converted the daylight basement into an airbnb. When I was watching videos about how to improve your listing, I was disgusted by the "influencers" who bought up 20+ properties to turn into airbnbs. I am not surprised people are upset about airbnbs contribution to increased housing prices, but I don't think an outright ban is appropriate. Airbnbs like ours take pressure off the short-term rental market without using up limited housing inventory.
Thank you. You are the type of people I like to see on ABnB. Just using already owned, unused space and trying to be nice about it. Not wasting your money on buying 10 houses and then complaining how you can’t make a profit. Had you thought about your cost/profits beforehand? And are you gonna realize your mistake, and put the house back on market so someone can have someplace to live, no. So, thanks for not being that guy. Hopes you keep up with your ABnB and get some income.
Regulations should add a limit to how many rental properties one can rent, if the objective is to make housing affordable again, it would mean airbnbers and landlords should only have 1-2 properties for that at most.
@shroomer3867 Seattle does that. You can always let your father/wife list 2 units each.
Force and prove you live in the home or max 1 other property. That is it. Would literally fix so many issues in the US. Hate people using homes as investment properties
Boo hoo to all the “struggling” AirBnB hosts. That’s what happens when you’re a money greedy monster. Get a real job like everyone else.
The legislation should be on number of weeks per year. 8 weeks is ok, cause you can go on holiday and rent out your property while away. Anything more than that is a business and should be taxed as such, with appropriate regulations (insurance, fire safety, etc). That's how London does it.
Airbnb should’ve never have been allowed. They’re essentially motels which are a commercial use in the middle of quiet neighborhoods.
That’s what zoning laws are for. It prevents people from opening car washes, theaters and MOTELS next to someone’s house.
Communities will fight back, hence all the bans from areas plagued with Airbnb.
Unlike hotels though they have just now banned cameras from being used in public common areas, if you rent a bedroom in a house and not the whole entire house.
Right? They are already illegal by our own zoning laws. These politicians just need to enforce this shit already.
Haha...you are right about vacuuming floors at the end of an AirBnB stay!...practically needing to clean the whole house before leaving by 10AM in the morning... :(
Here is a good rule of thumb for anyone considering entrepreneurial opportunities.
If social media influencers are pushing it, they're pushing it to millions of people, and by the time you'd be ready to set up shop, the market will likely be oversaturated.
Oh, and those people selling courses to show how to do every money making opportunity from crypto to dropshipping, to selling on Amazon, to trading stocks? If their method is so good, why are they selling it to you and others effectively creating competition for themselves which will dwindle potential profits? I'll tell you why, because the lucrative timespan for that particular enterprise has likely already dwindled or in the skeezier cases, it never was. There's more money to be made selling that dream to others now than in actually doing it.
As the old saying goes, don't just trust an influencer. You have to do your own research, esspecially if the financial outlay for your entrepreneurial vehicle is going to be substantial, and/or involve a loan to get it rolling.
My radar goes off when there's no barrier 🚧 to entry. Unfortunately it means you kinda have to be good at something really hard, dangerous, unappealing to actually do well in life. Something most others can't or are not willing to do.
Unless Airbnb goes back to its original state (a way for people to make money from unused rooms which allows people to get affordable accommodation) then I hope it dies off completely. The current state of being a luxurious accommodation is disgusting.
I grew up in Bedford-Stuyvesant. I can't afford to live there now.
Airbnb will eventually go down the tubes. They do nothing for clients if a stay goes bad, for instance, not as described, safety issues, failed services like operating plumbing, you name it. I have been in Mexico for two years now, and I have had some terrible experiences, did Airbnb do anything? No, nothing. Mostly the what happens is someone buys a condo in one of the tourist areas, or in a popular city, and sets up shop. Time passes, and things age, but the pictures first taken when the unit was new do not. It's kinda like being catfished on a dating site, you don't know the stay is bad until you get there. I've experienced black mold, beds so worn I could not sleep, sewer smells, and a roach crawl across my face, all in Mexico Airbnb’s. Airbnb rentals in Mexico are a crapshoot. I lived in Thailand for six months, same model of operations there, EXCEPT, short term rentals, like Airbnb are against Thai law, yet, Airbnb operates in the market.
I feel like if you can't pay your second home on your own income, you really shouldn't be having a second home loan.
Listing the house is a short-term rental, or a long-term rental to help pay for it makes that money part of your income.
I would think that people living in a neighborhood would hate living next to a house used as an AirBnB with so many different people coming and going from the house.
Some of the cities near where I live (in California) do not allow Airb&b cause of the noise. Also, they say that a neighborhood full of rental homes is not really a neighborhood
That's too bad. You can't pick your neighbors
They should be illegal cuz they go against residential zoning laws.
@@tcfoxdude zoning ordinances should be illegal. Short-term rentals don't violate zoning ordinances any more than long-term rentals do.
@@zacharyhenderson2902Residential zoning laws are what keeps someone from putting a gas station, a car wash, a movie theater, or a MOTEL next your home.
Airbnb’s are a commercial use cuz they are motels. They are rented out for parties, take up parking, make noise at night and leave trash. No one wants to live next to a motel in a residential neighborhood.
Long term rentals are beholden to their leases which also have rules and regulations.
Airbnb needs to stop letting hosts charge a $200+ cleaning fee as they still require me to vacuum, take out the trash, etc.
6:17 I like CA’s solution way better, but aren’t local zoning restrictions and nimbys the main thing stopping new home construction? Instead of taxing more, why not give an incentive to homeowners who live in “yimby zones” or something.
"I can't sustain my business of buying up places for people to permanently live and renting them out for higher prices than hotels!" Boo hoo. Airbnb was a good idea originallybut it's gone too far and people have taken it way left of what it was supposed to be.
Had a house on my street bought for an AirBnB. The best short term renters were a pornography production company. Everyone was polite and notified neighbors whenthere were going to be production vans coming.
Luckily we have an HOA and were able to eventually show AirBnB that the homeowner was violating our guidelines. Because the rotating drug dealers who were the primary short term renters were constantly shooting at people and parking illegally. Not to mention the human trafficking.
Sharing this story so people can know what type of people can be attracted to short term rentals.
"California scrapped the tax altogether"
Oh, so actually we can tell which one will have more of an impact: The law that's still around lol
California government: *Raises taxes to fund homes*
Investors: *pretends to be normal people and buys them*
*Cycle continues*
This is exactly what is happening in Canada and I don't know how no enforcement at all happens until it becomes a problem for the stupid senators in office who probably have a hand in the game... Imagine settings rules to a game while participating in it... People who want change should really vote independent people in but you know... You have to be blue or red...
You also didn't mention that some travellers absolutely destroy the place where they stay while AirBnB does nothing to compensate the host.
That's why they place a 5000 usd hold on your credit card. It's a great system, built on love and trust. But I just use a teenager's card so we just don't pay.
Doesn’t ABNB have insurance for exactly that reason?
That doesn't mean the insurance will pay out@@m1k3y48
AirBnb has coverage. Last time I checked it was up to $1 million. However, keep in mind that there is still a separate insurance company involved. Until the claim is resolved, you cannot enter your own apartment. Think of it as “crime scene - do not pass” tape.
@@chefnyc yes, airbnb has "coverage" the problem is, they want me to send evidence that it was THESE guests who destroyed the place, but I don't have the cameras inside, because airbnb doesn't allow it, and airbnb "can't be sure" that the place was not trashed before these particular guests arrived.
i have the option of going to court, but it's cheaper and faster for me to pay $10k in repairs, than to wait months for a court date that will only give me a chance of recovering the money.
Twice I tried to book an AirBnb in Australia for a popular weekend, and twice my request was ghosted by the provider. What hosts do is ignore requests while they progressively put up the price. When the number of requests slows to a trickle they know they're hit peak price, and allow a booking.
Since I was rejected from AirBnB, I booked a traditional hotel. 5 minutes later I paid and had a confirmed room from a professional organisation, instead of who-knows-what private landlord that also charges cleaning fees.
Cleaning fees and rules are out of control. If I’m not staying somewhere luxurious a hotel is much better.
Stayed at a few airbnbs on my honeymoon and was surprised at how rude and bitter some of the newly divorced landlords seemed. One lady was so mad that we were late checking in that she feigned a migraine and made her 10 year old son deal with us for our entire stay. We cleaned and made the bed in every place we stayed with some hosts locking the trash cans so you have to pack out garbage even camp sites have a dumpster, charges for things like the water level in the hottub (having no hose to refill it or dish soap for the kitchen) so you either go buy it or have to beg the landlord for assistance. Definitely lacking in hospitality for my dollar
I hosted an AirBnb listed house for a few years (I live in the house now), and yes I charged a cleaning fee but I never expected the guests to do anything other than place their dishes in the dish washer. I even stated this on the house's listing and I swear it helped me stay 80-100% booked compared to the rest of the area. Either charge a cleaning fee, or have the renters do the cleaning. You can't have both.
I don't blame people moving back to traditional hotel/motels, especially if the stay is just for a short visit. AirBnBs should be reserved for special locations or for large families. The fact that apartments and small town-houses are trying to become AirBnBs is convincing me I made the right decision to leave the market before the bubble truly popped.
People should only be able to have 1 property that they can open for purpose of short term rentals.
Drive up prices, ravage local community, and are always overpriced
4:28 with you till here, but I’ve never seen a convincing argument that these are the same apartments and the same prospective renters. I wonder as well if the people clamoring for restrictions on airbnb would support more home construction in general, which is the only reliable way to bring rents and home prices down.
i hate people that rent out houses when there's an actual homelessness situation. people can't afford to buy homes because rich people are hoarding and renting them.
The first time I stayed in an Airbnb, we were staying in a couples guest room in the apartment where they lived. For years, my parents would rent out my and my brothers rooms when we were away at college and the whole of my childhood house when they went out of town. That was a model that actually made sense for me. Was it for everyone? No. But it provided a new and useful element of the market.
I live in a country with a terrible housing shortage. We can only dream of housing being as 'affordable' as it is in the US.
When I briefly lived in Canada, AirBNB was an affordable way for me to live in someone's spare room, for less than a standard rental term. In these cases, there might be a place for it.
I disagree with cities/towns that have glut of short-term rental accommodation. It's really challenging for the people who live there...especially if it then needs lots of hospitality/retail workers to service all the visiting tourists.
That last vacuum comment was personal 😂
I once was asked to clean the apartment. I told him it's cleaner than when I arrived. And that's it. And I had to pay the utilities above the airbnb price, which was hidden info on the listing
This video is so timely because it brings light to the reality of what many still don't want to see! Certain things you can't unsee (even if you want to turn a blind eye) and the facts in this video is one of them. There are several other opportunities to invest outside of Airbnb rentals. Many investors don't consider the impact it has on the neighbors as well as the lack of available homes for rent/live in. I'm definitely for making money, but not when it's going to hurt others in some kind of way and there several investors who think the same. Unfortunately, there are many who only care about the money! As always, great video, breakdown, and financial education that continues to inspire others like myself... Keep up the great job!
2:19 I'm curious to know if a similar thing is happening with uber. only instead of regulations it's lower fares with higher running costs.
My neighborhood's HOA just passed a ban on short term rentals! The house that got flipped across the street from me was bringing in awful guests and the property went long-term in less than a year. The owners don't even live in my state! High flying investors don't even understand what they've done to themselves when they can drop a cool mil on a property unseen. The ROI did not imprees with that level of greed and I know those people lost more money than I can even conceive of.
I am a 20+yr resident in my town. Raised kids, supported this community and have loved living where I do. Until Mr. E arbitraged the large house near me.
It has been nearly 2 years of problems and our quality of life, safety of my family, and our well being have declined to the point that I don't want to live here anymore. It feels like a battleground and my county has NO STR policies in place..NONE.
Buncombe County NC- get your stuff together!
Airbnb prices are no different to hotels these days.
Back when AirBnBs used to ask me to clean, they were charging less than 25% of what a hotel would, basically on par with regular long-term renting.
Before my arrival, I trusted AirBnB hosts' cleaning more than I trusted hotel cleaning even though hotels were more expensive; now that AirBnBs cost the same as hotels and use professional mass-cleaners, there is no upside vs hotels.
If you can afford it and want more space than a hotel room, just get two. Hotels will generally honor requests for both rooms to be as close to each other as possible, even if it requires one to get a minor upgrade like being switched to an accessible room. Even four star hotels can be less than $400/night with a double room setup!
For Shelby Church, she isn't a very good example. mathematically, she was going to lose money on it over the whole off season either way.
I lived in airbnbs my first 3 years in Europe. Found great places in the US, Germany, and Croatia. Ita great for foreign countries because you can get a fully furnished apartment or house with utilities for a good monthly prices. Recently when Ive used it for shorter trips, it has been less than overwhelming..... Plus the cleaning fees cost more than the dang rooms sometimes!!
Living and working in Palm springs, CA here. Can confirm like 85% of the houses in the nice neighborhood I bike through are either short term rentals or unoccupied second homes for snowbirds. The neighborhoods are mostly empty, especially in the summer. I don't feel bad for these landlords but I don't blame them for trying to make a buck.
You have to clean, AND pay a ridiculous cleaning fee 😑
Got no love lost. They were part of the problem with rising home prices.
What about when a host just has like a little tiny home on their property that they Airbnb? Just like an old shed or garage? Is that a better scenerio?
Airbnb was the cheap alternative to hotel… not anymore
Honestly I think Airbnb should disappear. Homes are homes hotels are hotels. This just messes with the market and steals valuable supply from renters
I booked a holiday visiting a few places. I didn’t bother with ABnB and don’t have their app. Too high risk (hosts cancelling, issues, etc) and the cost not worth it.
Hotels are way better than someone else’s house anyways
It was good in the beginning but I find it's pretty terrible for past few years, and haven't booked one in ages. Only existing use case is if you need a house for a large group. Otherwise, I'm going straight to a hotel...I don't even bother to look anymore.
They must registre as hotel business, not tech business. Also every host must take license to run hotel, pay for very expensive insurance and ask every neighbor permission too. Very shitttty business
Anyone see an Airbnb ad at the beginning of this video? 😂
Airbnb has been dead to me about 3 years ago. Those cleaning fees are incomprehensible.
My friends like Airbnb because they feel like they are rejecting corporate hotels, I like hotels because i can do it last minute and don’t have to gain approval
I like how you frame local governmence like market corrections due to an oversupply of airbnbs (which in turn make normal housing unattainable). It felt like a fun econ 101 class that I wish I had.
in the long run would these home hoarders sell their properties at a lower price to actual would be home owners?