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"Gold-rush mentality" indeed. I just wonder how big the short-term/vacation rental market really is (or can be) and whether all of these conversions are ultimately going to be sustainable...
 
"Gold-rush mentality" indeed. I just wonder how big the short-term/vacation rental market really is (or can be) and whether all of these conversions are ultimately going to be sustainable....
See, my question is a little different. With a burn out rate of less than a year, I wonder how many will still exist when they realize the work. Especially as the tax man is coming and the under-the-table money is disappearing.
 
"Gold-rush mentality" indeed. I just wonder how big the short-term/vacation rental market really is (or can be) and whether all of these conversions are ultimately going to be sustainable....
My son converted an apt into an air space. He looked at $700/month in rent vs $95/night and went for it. If it doesn't work out, he rents it as an apt. So far, it's been ok. He seems to rent more to business people who would prefer to not deal with the sprawling hotel complexes.
He has a cleaning service that does the work.
 
"Gold-rush mentality" indeed. I just wonder how big the short-term/vacation rental market really is (or can be) and whether all of these conversions are ultimately going to be sustainable....
That depends on the location. Major tourist spots make these vacation rentals a gold mine.
After a discussion on another group, I did a quick search on Air of several tourist hot spots:
San Fran: over 1000 entire place rentals (this does not include the 1000+ private room rentals or the 339 shared room rentals)
Miami Beach (not all of Miami): over 1000 entire place rentals
Nashville: 819 entire place rentals (including a 60's camper with a backyard bathhouse)
Niagara Falls NY: 395 entire place rentals
New Orleans: over 1000 entire place rentals
Las Vegas: 715 entire place rentals
Washington DC: over 1000
Interestingly enough Gatlinburg, a very well known vacation rental hub only has 272 listings for entire place rentals, while I am sure there are hundreds more. I am sure it is because they do well without Air. And another note about this city, they highly enforce their regulations as they know they are a money pit for tax money.
Once we see these cities placing more regulations, fees and taxes on these places we will see this die down.
 
You know it all depends on the location, like you mention Copps. If I were in DC and could have an in-the-city location close to metro and everything that is different to a mountainous Gatlinburg locale, and would be much more inviting and make sense.
Metro vs Mountain
N.O. vs Niagara Falls
We uses these?
Would a young single couple book a place in Niagara or N.O.?
same question for Metro vs Mountain...the answer is easy.
 
I this is really a capitalistic democracy, I think the governments have no business worrying about whether it makes rent more expensive.
The legitimate gripe, seems to be the illegal nature of things - not being up to fire/safety/ADA code, skirting zoning laws, excess noise/traffic, avoiding required taxes, while motels/hotels/inns have to pay the piper.
 
I read this in the Toronto Star today. Residents want something done but government chooses to look the other way.
http://www.thestar.com/business/2015/03/18/noisy-airbnb-renters-raise-ire-of-willowdale-residents.html
It actually made the front page on the paper edition..
2cat_lady said:
I read this in the Toronto Star today. Residents want something done but government chooses to look the other way.
http://www.thestar.com/business/2015/03/18/noisy-airbnb-renters-raise-ire-of-willowdale-residents.html
It actually made the front page on the paper edition.
THAT is the kind of crap that makes it difficult for a REAL B & B to get zoning permits.
 
I this is really a capitalistic democracy, I think the governments have no business worrying about whether it makes rent more expensive.
The legitimate gripe, seems to be the illegal nature of things - not being up to fire/safety/ADA code, skirting zoning laws, excess noise/traffic, avoiding required taxes, while motels/hotels/inns have to pay the piper..
Well, I would urge caution with broad ideological opinions. I think the second statement stands alone without it and is something you'll find most here would mostly agree with.
 
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