patrick.net

https://finance.yahoo.com/news/airbnb-lead-real-estate-market-180212436.html

Airbnb To Lead Real Estate Market Crash

Maybe this is a good time for an airbnb competitor to rise to the challenge.

GNL says

Maybe this is a good time for an airbnb competitor to rise to the challenge.

And do what?

zzyzzx says

Airbnb To Lead Real Estate Market Crash

That Yahoo Finance article is referencing Robert Kiyosaki. He always pumps up silver, but that commodity is rigged. I rather hold a total stock market index fund as far as hedge against inflation than silver.

I don't know the current state of market for vacation rentals through AirBnB, VRBO, Vacasa, etc.

You would have to track average and median rates for vacation rentals as well as the amount of vacation rentals per zip code to get an idea of how they fare in regards to cash flow. One gauge I track is bed tax receipts for Bay County, Florida as far as health of vacation rental and hotel market.

.

indc says

And do what?

Become the WeWork of apartment rentals?
Faux Dude LLC will sign long term lease and sublet to short term renters. What could go wrong?

GNL says

Maybe this is a good time for an airbnb competitor to rise to the challenge.

Hotels and actual licensed Bed and Breakfasts.

HeadSet says

Hotels and actual licensed Bed and Breakfasts.

yeah, use to do two day vacations and stay at Bed and Breakfasts in Virginia wine country like in Middleburg

it was not hard finding them even without using the internet...use to get a tourist guide in the mail that would have a listing of all the B&B by city and would list the rates and phone numbers

a lot of rest stops along the east coast had advertisement flyers for B&B

https://www.kansascity.com/news/local/article279307904.html

Kansas City will kick hundreds of rentals off Airbnb, Vrbo this week

https://www.wdrb.com/news/metro-council-approves-changes-to-ordinance-cracking-down-on-who-can-operate-short-term-rentals/article_01cd5e62-536e-11ee-ac11-a74feef417f6.html

LOUISVILLE, Ky. (WDRB) -- The city is cracking down on who can operate short-term rentals in Louisville.

zzyzzx says

https://www.kansascity.com/news/local/article279307904.html

Kansas City will kick hundreds of rentals off Airbnb, Vrbo this week

zzyzzx says

https://www.wdrb.com/news/metro-council-approves-changes-to-ordinance-cracking-down-on-who-can-operate-short-term-rentals/article_01cd5e62-536e-11ee-ac11-a74feef417f6.html

LOUISVILLE, Ky. (WDRB) -- The city is cracking down on who can operate short-term rentals in Louisville.

You literally picked two of the worst midwest cities to visit. I'm surprised they even have any vacation rentals. Louisville especially. South side of Chicago is safer. Kansas is a dump. Worst airport out of at least 50 I've been to. Overrated BBQ. I'm really shocked either city even gives a shit about vacation rental property. No one goes there. Maybe prostitutes and child molesters are renting them out? Little fun fact with motels and short term rentals. Sex offenders don't have to register the address since it's not a permanent address even though it is. That seems highly probable for both cities.

WookieMan says

I'm surprised they even have any vacation rentals.

I'd say the same about any big city, but most are filled with AirBnb's now.

https://www.yahoo.com/news/airbnb-renter-stays-brentwood-home-140416878.html

Airbnb renter stays at Brentwood home for more than a year without paying

https://www.kiro7.com/news/rainier-homeowners-lives-van-while-delinquent-tenant-lists-rental-airbnb/KHY35IOCC5DMDHE5KYLZVK3QFA/

Yes its a drawn out eviction process of about 12 months while the tenant is sub-leasing the downstairs living space for $2000 to $4000.

So what happens in the future when the tenant leaves ? Do they continue the same behavior and possibly operate with other scam artists ? Will any damaging info remain on the tenant's credit report ? I wonder what is the history of this tenant as far as operating scams.

.

zzyzzx says

https://www.yahoo.com/news/airbnb-renter-stays-brentwood-home-140416878.html

Airbnb renter stays at Brentwood home for more than a year without paying

Hirschhorn’s attorney told the Times that “she was not required to pay rent because the city had never approved the unit for occupancy and that its shower was constructed without a permit.”

That "landlord" did this to himself. He felt no need to follow the law, so now the law is not helping him.

ad says

https://www.kiro7.com/news/rainier-homeowners-lives-van-while-delinquent-tenant-lists-rental-airbnb/KHY35IOCC5DMDHE5KYLZVK3QFA/

Yes its a drawn out eviction process of about 12 months while the tenant is sub-leasing the downstairs living space for $2000 to $4000.

So what happens in the future when the tenant leaves ? Do they continue the same behavior and possibly operate with other scam artists ? Will any damaging info remain on the tenant's credit report ? I wonder what is the history of this tenant as far as operating scams.

.

“OK. So, not only is he not paying me, but he’s generating an income through the basement Airbnb unit, and meanwhile, I’m having to pay the utilities for that unit,” said Jason.

Yeah, well I bet you voted Dem (because you care about people), and now the consequences of wildly overprotective tenant's "rights" in the law.

https://www.zerohedge.com/markets/something-popped-google-searches-sell-my-airbnb-surge-travel-bubble-downturn-worsens

Something Popped: Google Searches For "Sell My Airbnb" Surge As Travel Downturn Worsens

HeadSet says

That "landlord" did this to himself. He felt no need to follow the law, so now the law is not helping him.

Are you fucking serious?

Why the fuck do you need to get permission from the government to install a shower? Stop being a willing slave. You cattle are killing us all.

richwicks says

HeadSet says

That "landlord" did this to himself. He felt no need to follow the law, so now the law is not helping him.

Are you fucking serious?

Why the fuck do you need to get permission from the government to install a shower? Stop being a willing slave. You cattle are killing us all.

It might be the local or state building code in regards to water conservation and its all part of the LEED and sustainable living paradigm. I can see this being very relevant in white liberal zip codes such as in Oregon and California.

But it is a major plumbing project for a home, so it would need to have a permit especially given the risks of not installing it properly.

...

Interesting article below , even if from Vox, that says need more liberal zoning to increase the supply of houses and even encourages use of accessory dwelling units (ADUs)

***************

And scapegoating short-term rentals isn’t the answer.

“In the vast majority of places, something like short-term rentals is not going to drive supply challenges,” Hermann said. “They could exacerbate them.”

In the first quarter of 2023, there were 144 million housing units in the US compared with 1.2 million available short-term rentals like Airbnbs, according to AirDNA analysis of Census data. That means they make up just 0.8 percent of the housing stock, what Jamie Lane, AirDNA’s chief economist and SVP of analytics, calls a “rounding error.”

https://www.vox.com/technology/2023/6/30/23779862/airbnb-collapse-housing-shortage

ad says

But it is a major plumbing project for a home, so it would need to have a permit especially given the risks of not installing it properly.

What are the risks? A leak that creates a sinkhole that would consume the residence?

Let them.

We're at the point where we need a permit to wipe our asshole. I'm kind of sick of it.

Regulations aren't made to protect the public, they are made to extort the public and to keep competition out of certain sectors. We're in fascism now, or maybe communism, they are so similar - except in communism total incompetents are promoted to power because of family connections, in fascism (supposedly) the most competent people are pushed into that position - by the government.

Federal regulations almost never apply to large business, and in the very rare case they do, it's a fine, not jail time. It's a bribe.

We are the new USSR.

richwicks says

HeadSet says

That "landlord" did this to himself. He felt no need to follow the law, so now the law is not helping him.

Are you fucking serious?

Why the fuck do you need to get permission from the government to install a shower? Stop being a willing slave. You cattle are killing us all.

More like this:
The landlord is likely a supporter of Dems who make rules like occupancy permits and permits needed for decks, showers, and related improvements.
The landlord ignores such rules when inconvenient to him.
The landlord then wants the law enforced when someone inconveniences him.

And as far as not wanting building codes, try Montana. When my wife's cousin built his own home in Big Timber, he was not required to get any inspections. He did ask for and got an electrical inspection because he thought it would help when it came time to sell.

I personally like knowing that homes are inspected for plumbing, electric, et al. When I buy a house, I like knowing that I won't get zapped by some ungrounded or otherwise misinstalled wiring. I also do not want to pay thousands of dollars to repair water damage because the previous owner used the wrong connectors when plumbing that new shower. And do not spout nonsense like I can hire an inspector before buying, since plumbing, electric and HVAC must be inspected before the drywall goes up. I do not want to have to rip out walls to see if the work was properly done.

It is not "cattle" to want sensible building rules, any more than it is "cattle" because we are herded to driving on the right side of the road.

ad says

In the first quarter of 2023, there were 144 million housing units in the US compared with 1.2 million available short-term rentals like Airbnbs, according to AirDNA analysis of Census data. That means they make up just 0.8 percent of the housing stock, what Jamie Lane, AirDNA’s chief economist and SVP of analytics, calls a “rounding error.”

https://www.vox.com/technology/2023/6/30/23779862/airbnb-collapse-housing-shortage

The Left keeps saying there is only 11 million illegal immigrants in the USA since the late 1990s.

I wonder if there is 50 million and that the Census Bureau is grossly underestimating the total population size which includes illegal immigrants.

Hence, the 144 million housing units is not enough even with the 50 million illegal immigrants living in densely occupied house conditions like 3 families for one home.

.

FWIW mainstream 'news' claimed we already had 30 million illegals back when Bush-II was elected.

just_passing_through says

FWIW mainstream 'news' claimed we already had 30 million illegals back when Bush-II was elected.

FWIW, see below.

source: https://undocumented.thehastingscenter.org/issuebrief/demographics-and-socioeconomic-status/

"From 2000 to 2007 the estimated number of undocumented immigrants in the US had steadily increased from 8.4 million to 12.0 million, then declined slightly, reaching its current level by 2009. "

"As of March 2010, an estimated 11.2 million undocumented immigrants were living in the United States, a figure equivalent to 3.7% of the nation’s population."

................

There're 11 million illegals just in California probably.

HeadSet says

The landlord ignores such rules when inconvenient to him.
The landlord then wants the law enforced when someone inconveniences him.

The guy is not asking the law enforced to collect missed rent payment, but taking back his own property. If the law deems the rental agreement illegal due to some element of the house not up to code or not having permit, then the tenancy agreement is invalid and consequently neither can the landlord collect rent nor can the tenant be there. So legally, the landlord should not be able to collect the missed rent, and the tenant has to be out of there. Otherwise, what's happening here is encouraging continued illegal occupation, reducing rental supply (i.e. the owner can not do anything to correct the problem, as the illegal occupant is still there), and eventually may well lead to either violence or non-payment of property tax, or both. If the court/law deems unpermitted shower as unsafe or unsanitary, then encouraging the occupant to continue occupation of the place preventing corrective measures may well lead to unsafe / unsanitary conditions thereby making the court and the judge liable to consequences.

It's a little like: if a prostitute has a repeating John in a state / city where prostitution is illegal, if the John owes the prostitute back pay for service rendered, the state / court is well within its right to refuse the enforcement of collection because it is illegal for the woman to sell herself so the agreement between the prostitute and the John is not enforceable. However, that does not mean the state or the court would be in the right to allow the John continue having sex with the prostitute against her will and occupy her vagina against her will because she had previously entered into an illegal agreement with the John. Just because she had violated the law in entering into an agreement selling herself doesn't mean she had forfeited her property right to her own body (aka self-ownership).

Reality says

So legally, the landlord should not be able to collect the missed rent, and the tenant has to be out of there. Otherwise, what's happening here is encouraging continued illegal occupation,

You are correct - I just do not have any pity for the man who ignored the occupancy and permit rules. I have owned 10 rentals over time, and I definitely do not like California style laws that allow squatting. I like it here in Virginia where I could evict a deadbeat within 2 months and get a judgement for unpaid rent and damages. However, when I bought distressed homes to rehab and rent out, I got the permits and brought everything up to current code.

ad says

just_passing_through says

FWIW mainstream 'news' claimed we already had 30 million illegals back when Bush-II was elected.

FWIW, see below.

source: https://undocumented.thehastingscenter.org/issuebrief/demographics-and-socioeconomic-status/

"From 2000 to 2007 the estimated number of undocumented immigrants in the US had steadily increased from 8.4 million to 12.0 million, then declined slightly, reaching its current level by 2009. "

"As of March 2010, an estimated 11.2 million undocumented immigrants were living in the United States, a figure equivalent to 3.7% of the nation’s population."

That's the right timeframe and that looks a lot more accurate. It was around 2005 I heard 30 million more than once. On Fox News.

In particular I remember that number because I was living with a Brazilian chick who'd overstayed her visa who always bitched when she called whatever number the government had given her to get citizenship the recording always told her to call back in 999 days or something like that.

Apparently her sisters had it easier because they came before 9/11...

Reality says

thereby making the court and the judge liable to consequences

You've made the most sensible post so far but that part almost made me choke laughing!

https://coloradosun.com/2023/11/01/short-term-rental-legislation-raises-property-taxes/

Colorado lawmakers got an earful Tuesday from short-term rental owners on a proposal to classify many of their homes as commercial properties and impose a much higher tax rate.

zzyzzx says

Colorado lawmakers got an earful Tuesday from short-term rental owners on a proposal to classify many of their homes as commercial properties and impose a much higher tax rate.

They are commercial properties since they are being rented out.

HeadSet says

zzyzzx says

Colorado lawmakers got an earful Tuesday from short-term rental owners on a proposal to classify many of their homes as commercial properties and impose a much higher tax rate.

They are commercial properties since they are being rented out.

.



.

zzyzzx says

https://coloradosun.com/2023/11/01/short-term-rental-legislation-raises-property-taxes/

Colorado lawmakers got an earful Tuesday from short-term rental owners on a proposal to classify many of their homes as commercial properties and impose a much higher tax rate.

In Florida they make money by a 6% sales tax plus a local 1% county tax and a 6% bed tax for total of 13% tax, in addition to the property tax which does not have homestead exemption benefits. So Florida makes a lot of money on short term rentals.

Plus there are about 15,000 condos on Panama City Beach that pay the school tax as part of property tax. They are short term rentals so they add to the school tax base without sending kids to the public schools.

How much is this the lobby efforts of hotels to try to make short term vacation rentals have to raise their rates even more and make them less competitive compared to hotels (when factoring in the benefits of vacation rentals like kitchens, more space and privacy, etc) ?

.

zzyzzx says

Colorado lawmakers got an earful Tuesday from short-term rental owners on a proposal to classify many of their homes as commercial properties and impose a much higher tax rate.

Yes!

Why should Short-term rentals not pay the same taxes and be treated as hotel rooms?

Furthermore, all nuisance fines (Garbage, Noise) must be paid directly by the owner within 30 days.

And frankly, property taxes on SFH Short Term Rentals should be at commercial rates.

ad says

HeadSet says

zzyzzx says

Colorado lawmakers got an earful Tuesday from short-term rental owners on a proposal to classify many of their homes as commercial properties and impose a much higher tax rate.

They are commercial properties since they are being rented out.

.



.

Are hotels commercial real estate? Short term rentals are in the hotel/inn business, not renting living space residences

HeadSet says

ad says

HeadSet says

zzyzzx says

Colorado lawmakers got an earful Tuesday from short-term rental owners on a proposal to classify many of their homes as commercial properties and impose a much higher tax rate.

They are commercial properties since they are being rented out.

.



.

Are hotels commercial real estate? Short term rentals are in the hotel/inn business, not renting living space residences

Yes. And since we're throwing links at each other, here's one saying exactly that in "type #5": https://fnrpusa.com/blog/types-of-commercial-real-estate/

zzyzzx says

She's a moron. My place has Pacific waves hitting a seawall maybe 20ft from my patio. So I have insurance to fix the place if a wave ever goes through it AND to replace the lost income.