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Airbnb "hidden" impact on SF

Discussion in 'News' started by Matt S, Jun 10, 2015.

  1. Matt S

    Matt S Active Member

    Estuarto likes this.
  2. Estuarto

    Estuarto Active Member

    I am looking more into the feasibility of making a business out of AirBnB. Not so much for personal sake, but out of curiosity from a financial standpoint.
     
    Matt S likes this.
  3. Matt S

    Matt S Active Member

    Here is AirBnBs report released on Monday: https://timedotcom.files.wordpress.com/2015/06/the-airbnb-community-in-sf-june-8-2015.pdf

    ● According to our analysis, a housing unit in San Francisco would need to be rented more than 211 nights annually on a shortterm basis in order to out-compete a long-term rental
    ● Only 0.09 percent of all housing units in San Francisco are rented more than 211 days on a short-term basis via Airbnb
    ● Similarly, only 1.14 percent of vacant housing units in San Francisco are rented more than 211 days on a 1 short-term basis via Airbnb
    ● From 2005 to 2013 the number of vacant units in San Francisco has remained essentially unchanged, further underscoring that the Airbnb community has no material impact on housing availability in San Francisco
     
  4. SI MON

    SI MON New Member

    The numbers make sense financially, that it would take 200 days of a short-term rental to exceed the income of a standard 1 year lease. It's a little surprising that only 1% exceed that number as 211 days out of 365 is only 57% occupancy.
     
  5. Estuarto

    Estuarto Active Member

    AirBnB and the Problem of Data: http://techcrunch.com/2015/06/11/airbnb-and-the-problem-of-data/

    Interesting points in that data is that half of SF's housing is rent controlled.

    Also interesting is the authors take on sub-letting a rental and why they don't do it.
    "(I’m a frequent Airbnb guest, but I do not host because I’m a tenant and the current city laws around short-term rentals do not supersede existing tenant-landlord agreements. Because most tenant agreements do not explicitly mention short-term rentals, the city’s legislation in practice is probably more favorable to landlords.)"

    I own a rental property and my initial thought was perhaps I should add a clause to the lease for short-term rentals. But actually I don't really have a problem with my tenants potentially using the rooms for AirBnB.
     
    Shirey likes this.
  6. Shirey

    Shirey Member

    I see AirBnB is publishing the ordinances for San Diego.
     
    Estuarto likes this.
  7. Estuarto

    Estuarto Active Member

    There has been a lot of local regulations added to the AirBnB site but as far as I know they do not send out any notification to hosts, and there are several locations that are not included on the AirBnB site.

    San Diego looks to be a mess.
     
    Shirey likes this.
  8. KonaCoconutz

    KonaCoconutz Active Member

    Esturato, that is sooooo brave of you! Aren't you concerned with liability? If a guest falls and breaks their leg they would sue you, the homeowner! Are you planning on taking a cut of the rentals? Why should your tenants make a huge killing on your property, while you shoulder all the liability and wear and tear and get nothing out of it? Not trying to be difficult or challenge you, I'm just extremely curious. I couldn't do it. Just like I could not run an Air rental where they are inside my personal home, and I know the majority do. I could rent my place long term but don't want to deal with the legalities of the landlord tenant situations and I make MUCH more money renting it online (not just on Air but on other sites too).
     
  9. Estuarto

    Estuarto Active Member

    I don't see it as being any different then if my tenants have a guest over who falls and breaks their legs and sues me. Or if my guests at my home do the same. I don't think that my tenants are doing AirBnB, I'm just saying that I wouldn't be against it if they were. I also don't think they can make a killing opening my property up to AirBnB guests. They pay me $850 a month rent and there isn't a large vacation rental demand in the area. Maybe we are talking about two different things though. If they moved out of the place and rented it as vacation rental then yes I would probably have some issues there. But I am talking about them renting out a room in the house - it's 3 bedroom and they are newlyweds. While they might be able to charge $50 a night there is no way they will have much more then half a months occupancy given the area. So really they would only be subsidizing the rent by hosting AirBnB. And if they have people at the house for half of the month is that really any more detrimental to the property then if they had a roommate move in? I don't think so. Part of this discussion speaks the differentiations of the types of AirBnB hosts that I discussed in my first blog. There are those trying to create income through hosting AirBnB and there are those that are not. I would love to hear and see some specific financials from hosts here on the forum. I will write mine up soon, I am only subsidizing my living costs, AirBnB is not a profitable venture for me.
     
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