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Top 5 reasons residential property owners hate Airbnb

Top 5 reasons residential property owners hate Airbnb

Honesty speaking I have an evolving love-hate relationship with Airbnb. While in certain destinations and cities the value proposition is just too attractive to pass up.

Yet the journey into the unknown often has it’s downside with shared bathrooms, furniture that does not fit my bad panda physique and Wi-Fi that simply won’t connect.

On the opposite side of the table a number of residential homeowners and long-term renters are now raising questions about damage control from the global disruptor that is growing faster then Jack’s Beanstalk.

One of the most talked about issues is privacy for permanent residents in condominium and apartment complexes where that peaceful vibe owner’s thought they were buying into has now been shattered by a turnstile of noisy transient travelers.

Next up are those who don’t own homes but are long-term renters of properties. Those most effected are CBD city locations where the business proposition of owners is such that yields from Airbnb are too good to pass up, so they displace the recurring long-term renters who are being pushed out into peripheral areas. It’s all about location, location, location and the bang for the buck is creating a new set of long-distance commuters.

Another recurring complaints is rising from resort properties where private property owners are now being faced with a high-traffic surge in amenity use such as swimming pools, gyms, or other common areas. For those who wanted to escape the hustle and bustle of hotels, and opted to purchase a vacation home, the proposition of serenity is being shattered by a loud holiday set.

Also high on the list is the perception that homeowner safety and security in residences is being compromised by a constant turnstile of rush-hour traffic.

Coming up last but not least is the sense of community that is being lost by overflow of the Airbnb set, versus familiar friendly faces. Socialization is important and a one-night stand versus a sustained long-term relationship with neighbors is being lost in translation.

There continues to be much debate about Airbnb from many sectors but for homeowners the division between supports and foes is widening by the day.

 

 

 

 

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Bill Barnett has over 30 years of experience in the Asian hospitality and property markets. He is considered to be a leading authority on real estate trends across Asia, and has sat at almost every seat around the hospitality and real estate table. Bill promotes industry insight through regular conference speaking engagements at key events and spends substantial time with his feet on the ground on research projects and gathering market intelligence. Over the past few years he has released four books on Asian property topics.

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