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.
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