Interesting article about Airbnb

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Interesting article about Airbnb

John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes

Very interesting article about not only guest complaints but also host complaints.

https://abcnews.go.com/amp/Lifestyle/wireStory/airbnb-hosts-sick-airbnb-90257185#amp_tf=From%20%251%24s&aoh=16641316754616&csi=0&referrer=https%3A%2F%2Fwww.google.com

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Dominick Galinis
Real Estate Agent · Fort Lauderdale, FL · Member since 2022 · 24 posts · 23 votes
4y
Quote from @Kevin Pillow:
Quote from @Michael Baum:

It is an interesting article. I get the feeling that most of the horror stories occur in large cities when guests are involved.

The biggest takeaway I have is to keep doing what I am doing the way I am doing it. Professional cleaning, regular maintenance, clean communication with guests, 3 day stay minimum and no instant booking.


 This exactly. Focus on what’s in your control and don’t let external stories change your focus. I’ll read the article now but it just seems like another hit piece.


Agreed. The thing about renting to people, some of them generally suck. Doesn't matter if it's LTR, STR, or whatever.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y

    @John Underwood

    I do believe this is going to end badly for a lot of investors who bought into the fad.

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  • John UnderwoodPro Member
    OP
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    4y
    Quote from @Chris Seveney:

    @John Underwood

    I do believe this is going to end badly for a lot of investors who bought into the fad.


     I agree and for the Arbitrage crowd too.

    I did hear something that makes since at  a Real Estate Association in Raleigh where I was invited to speak last week.

    How many would buy properties today for what they were at the 2008 peak?

    Everyone raised their hands.

    The question is can people weather the storm for a few years at these prices?

    1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    4y

    It is an interesting article. I get the feeling that most of the horror stories occur in large cities when guests are involved.

    The biggest takeaway I have is to keep doing what I am doing the way I am doing it. Professional cleaning, regular maintenance, clean communication with guests, 3 day stay minimum and no instant booking.

    4Reply
  • Kevin Pillow
    Realtor · OK · Member since 2020 · 139 posts · 165 votes
    4y
    Quote from @Michael Baum:

    It is an interesting article. I get the feeling that most of the horror stories occur in large cities when guests are involved.

    The biggest takeaway I have is to keep doing what I am doing the way I am doing it. Professional cleaning, regular maintenance, clean communication with guests, 3 day stay minimum and no instant booking.


     This exactly. Focus on what’s in your control and don’t let external stories change your focus. I’ll read the article now but it just seems like another hit piece.

    0Reply
  • John Carbone
    Realtor · Gatlinburg · Member since 2020 · 1k+ posts · 957 votes
    4y
    Quote from @John Underwood:
    Quote from @Chris Seveney:

    @John Underwood

    I do believe this is going to end badly for a lot of investors who bought into the fad.


     I agree and for the Arbitrage crowd too.

    I did hear something that makes since at  a Real Estate Association in Raleigh where I was invited to speak last week.

    How many would buy properties today for what they were at the 2008 peak?

    Everyone raised their hands.

    The question is can people weather the storm for a few years at these prices?

    The people raising their hands are likely right. Cumulative inflation since then is around 40 percent. So in general, a $100,000 property should be worth $140,000 to keep up with inflation. Real estate is a great inflation hedge, and even more so when you are able to get it with leverage and earn income off the property. I haven’t seen how much housing prices are up since 2008, but anything above 40 percent is likely overpriced depending on the circumstances. I’d never sell a property for a loss though, eventually it will recover. 
    1Reply
  • Dominick Galinis
    Real Estate Agent · Fort Lauderdale, FL · Member since 2022 · 24 posts · 23 votes
    4y
    Quote from @Kevin Pillow:
    Quote from @Michael Baum:

    It is an interesting article. I get the feeling that most of the horror stories occur in large cities when guests are involved.

    The biggest takeaway I have is to keep doing what I am doing the way I am doing it. Professional cleaning, regular maintenance, clean communication with guests, 3 day stay minimum and no instant booking.


     This exactly. Focus on what’s in your control and don’t let external stories change your focus. I’ll read the article now but it just seems like another hit piece.


    Agreed. The thing about renting to people, some of them generally suck. Doesn't matter if it's LTR, STR, or whatever.

    4Reply
  • Kevin Pillow
    Realtor · OK · Member since 2020 · 139 posts · 165 votes
    4y
    Quote from @Dominick Galinis:
    Quote from @Kevin Pillow:
    Quote from @Michael Baum:

    It is an interesting article. I get the feeling that most of the horror stories occur in large cities when guests are involved.

    The biggest takeaway I have is to keep doing what I am doing the way I am doing it. Professional cleaning, regular maintenance, clean communication with guests, 3 day stay minimum and no instant booking.


     This exactly. Focus on what’s in your control and don’t let external stories change your focus. I’ll read the article now but it just seems like another hit piece.


    Agreed. The thing about renting to people, some of them generally suck. Doesn't matter if it's LTR, STR, or whatever.


     something I always thought if you don’t like tenants there is commercial real estate that’s more business client focused.

    0Reply
  • John Carbone
    Realtor · Gatlinburg · Member since 2020 · 1k+ posts · 957 votes
    4y
    Quote from @Dominick Galinis:
    Quote from @Kevin Pillow:
    Quote from @Michael Baum:

    It is an interesting article. I get the feeling that most of the horror stories occur in large cities when guests are involved.

    The biggest takeaway I have is to keep doing what I am doing the way I am doing it. Professional cleaning, regular maintenance, clean communication with guests, 3 day stay minimum and no instant booking.


     This exactly. Focus on what’s in your control and don’t let external stories change your focus. I’ll read the article now but it just seems like another hit piece.


    Agreed. The thing about renting to people, some of them generally suck. Doesn't matter if it's LTR, STR, or whatever.

    I’m sure it’s a rare occurrence, but I do not want a STR in a location where a guest can have the police kick me out of my own house. Avoid investing in those places. 
    1Reply
  • Mike Eichler
    Realtor · Pocono Pines, PA · Member since 2019 · 183 posts · 108 votes
    4y

    Very interesting take on it, as long as you have a system that is in place and it works you should be good.

    0Reply
  • Leslie Anne Morris
    Real Estate Agent · Smoky Mountains, TN · Member since 2022 · 1k+ posts · 984 votes
    4y

    Like anything it will ebb and flow. The folks with the processes and good systems in place will remain prevalent. If you want in…get a good team! 

    0Reply
  • Henry T.
    Member since 2022 · 1k+ posts · 1k+ votes
    4y
    Now that we've talked about STR, let's talk about the horror stories of LTR and the legislation that enables those problems. This blogs' servers would be on overload!
    0Reply
  • Pego Jean-Paul
    Real Estate Agent · Norwalk, CT · Member since 2021 · 22 posts · 7 votes
    4y

    The article is interesting and relevant. I have a friend that had a great Airbnb property but his neighbors pushed him out . He ended up having to the sell the property because of a potential fine and harassment by the neighbors. I still think there is a potential in this niche but research has to be done for the local laws and permits. 

    0Reply
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    4y

    @John Underwood a big topic of my conversations with others lately has been the explosion of STR investment purchases. I think we'll see those who have worked hard to have great properties and put together great self management systems do well but those who cut corners are going to get a wake up call.

    STR guests have very high expectations and cheap, dingy places are going to remain vacant for longer periods of time.

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  • Greg R.
    Investor · Dallas, TX · Member since 2016 · 887 posts · 1k+ votes
    4y

    I wouldn't be upset if the STR field thinned out some. Some say it's over saturated, but I haven't personally noticed much change in occupancy at my places. The ones that are currently suffering and are going to suffer are the poorly operated rentals. This includes ones that are dated/ not put together well and also those that can't self-sustain financially without 90%+ occupancy.

    1Reply
  • Jeffrey Albaum
    Investor · Austin TX · Member since 2018 · 151 posts · 165 votes
    4y

    @John Underwood Super interesting article thank you for sharing!

    1Reply
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