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.
Dave:
Hey, everyone. Welcome to On the Market. I’m joined today by James Dainard for the start of short-term rental week. I feel like we need echoey music for that, or some sort of big announcement for our first ever short-term rental week. I’ve talked about this with Henry, James. Are you a short-term rental guy? Staying in one, not investing in them. Do you like staying in short-term rentals? Do you prefer hotels?
James:
I have no problem staying in them. I’m definitely good staying with them, but I go with whatever’s cheapest is what I go with, especially when I’m traveling for work. Now, if I’m with my wife and kids, they like hotels, the amenities trump it all, and so we do hotels on vacation. But I will do them. If I can find them…