Airbnb is looking for a new type of host: renters. With housing costs rising nationwide, homeowners have almost always been able to rent out their properties to make an extra buck. But, until now, renters haven’t had the same opportunity. And, as mortgage rates rise and rents stay high, many renters are biding their time, hoping to save up enough so that when rates drop, they can snag the home they’ve been dreaming of. Airbnb is trying to make this easier.
Jesse Stein, Global Head of Real Estate at Airbnb, is no stranger to the world of hospitality. His background with hotels made him the perfect candidate to join Airbnb. Jesse comes on the show to talk about the short-term rental industry, where it’s heading, whether or not it’s growing, and a new type of “host” that Airbnb is trying to help create.
Jesse’s team at Airbnb has partnered with some of the largest apartment communities in the country to offer renters a deal that’s almost too good to pass up: the ability to rent their place while they’re away. Now, high-cash flow house hacking isn’t just reserved for homeowners, and a move like this could help with the wallet-crushing affordability issues we’ve talked about so many times on the show.
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In This Episode We Cover:
- Short-term rental market trends and why consumers are still spending so much on travel
- Growing regulations and Airbnb’s response to cities cracking down on short-term subletting
- The new “Airbnb?friendly apartments” that allow renters to house hack like never before
- Renting vs. buying a home in 2023 and the savvier of the two choices
- The rise of medium-term stays and why more renters are using Airbnb for longer trips
- And So Much More!
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.