/The Future of Airbnb – The New York Times

The Future of Airbnb – The New York Times

Before the launch, the corporate shared the brand new software with San Francisco’s Office of Short-Term Rentals. “They’re pretty positive about it and hopeful this will definitely improve their ability to get bad actors off the platform,” stated Jeffrey Cretan, a spokesman for the town’s mayor.

Perhaps as a result of of these scofflaws, Airbnb says it has not misplaced important listings. According to AllTheRooms Analytics, amongst fashionable cities in Europe, solely Rome and Lisbon have shed listings, about 2,000 every. In Lisbon, the crackdown nonetheless leaves simply above 14,500 listings, the identical determine as in January 2019, however down from the height in July 2019.

The impact of extra laws could present up sooner or later, posing a risk to a sturdy portfolio. “For a platform like Airbnb, they’re not just worried about the demand side, but the supply side,” Mr. Mody, of Boston University, stated, noting the journey freeze could persuade hosts to place their items within the lengthy-time period rental market, shrinking the platform, and worrying potential buyers. “When you’re living on venture capital, profitability is not as important as growth,” Mr. Mody added. “Shareholders will be a lot less patient.”

During the pandemic, Host Compliance, which tracks authorized compliance amongst quick-time period leases for 350 cities and counties within the United States, stated noise complaints about so-known as “party houses” tripled.

“A lot of people have been at home for a long time and they have to let some steam off and can’t jump on a plane to go to Europe or Cancún to party so they are renting out short-term rentals in driving distance from their homes,” stated Ulrik Binzer, the founder and common supervisor of Host Compliance.

Often, these leases are in residential neighborhoods, triggering noise complaints and well being considerations about giant gatherings.

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