Ep239: Airbnb News Updates
Summary
This episode of Get Paid For Your Pad discusses Airbnb news updates, including a study on the impact of Airbnb on New York City rents and a Homes.com study on the best and worst US cities for Airbnb profitability. The episode also features discussions on STR revenue management and CEO strategies.
Key Insights
- •Airbnb caused New York residents to pay an extra $616 million in rent from 2009 to 2016.
- •Ohio features the top two cities (Akron and Cleveland) to rent on Airbnb. Less than five days per month is sufficient to cover the mortgage in these places.
- •In California, such as San Francisco and San Jose, you would need 23 and 27 days respectively to cover the mortgage.
Action Items
- ✓Hosts should stay updated on market trends and profitability analysis in their specific locations, especially comparing Midwest vs. coastal markets.Effort: lowImpact: medium
Tools & Resources
- →AirDnA: The study used data from AirDnA to calculate the effect that the short term rental website had on rents.
- →Homes.com: Using data from Airbnb, a website called Homes.com researched the best and worst cities in the US to make money on Airbnb.
More from Pricing & Profitability
A host reported earning $2,300 monthly on Airbnb with almost constant bookings, only to quit due to difficult guests. This highlights the financial potential of STR hosting but also emphasizes the importance of guest screening and managing guest behavior. Balancing profitability with a positive hosting experience is crucial.
This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Curated by Learn STR by GoStudioM