Short-term rental provider Frontdesk lays off entire staff

[Cliff H.]

“The startup’s business model, which is leasing apartments at market rental rates and furnishing them for short-term rentals in more than 30 markets, has struggled largely due to the upfront costs involved, associated capital expenditures and variables in demand and rates, one of the sources said. Others in the space have also had challenges, including Stay Alfred, Domio, Lyric, Zeus Living, The Guild and WanderJaunt. Ironically, Frontdesk previously acquired over 100 units across several cities from WanderJaunt, Stay Alfred, Lyric and Domio.”

Source: https://techcrunch.com/2024/01/02/short-term-rental-provider...

[Scott K.]

Good riddance. The more cities and local governments fight against this awful business model the better the result for the housing market, customers, and neighborhoods.