Short-Term Rental Demand Returns, So Why Are Hosts Making Less? w/AirDNA Chief Economist Jamie Lane

On The Market

BiggerPockets

News, Education, Business, Investing

4.8 • 858 Ratings

🗓️ 12 August 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A couple of years ago, everyone was expecting an “Airbnbust,” where short-term rental investments would sit vacant, hosts would be forced to sell, and hotels would take the reigns as the leaders in hospitality. But that didn’t (exactly) happen. Instead, we got a slightly slower short-term rental market with fewer bookings, some more supply, and a slight dip in revenue for hosts. The short-term rental market is now reaching “equilibrium,” and demand is returning. So, what do hosts need to know now? Jamie Lane from AirDNA, the leading global short-term rental data and analytics company that tracks every listing on the market, is here to give us a mid-year update. Jamie talks about how the short-term rental market is returning to normal, why demand is starting to shoot back up all while prices are dropping, and the “cracks in the system” that could point to future short-term rental weakness. He points out the short-term rental markets with the most growth potential, the oversupplied ones seeing drops in demand, and why the European Airbnb scene, even with its regulations, is exploding. Plus, he’ll share the amenities and policy changes you can make NOW to get more bookings and what to look for BEFORE you buy in a new market. In This Episode We Cover A 2024 short-term rental market update (supply, demand, pricing, and threats) The short-term rentals seeing the least demand, and why this may be worrying for hosts “Fringe” markets that are performing even better than the traditionally popular markets Why hosts are seeing a drop in revenue and the markets with weak demand International travelers returning and the minor tweaks you can make to get more bookings Jamie’s forecast for the rest of the year and why he predicts demand will rise this fall And So Much More! Links from the Show Get the Short-Term Rental Furnishing List Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE Find an Investor-Friendly Agent in Your Area See James and Kathy at BPCON2024 in Cancun! #Airbnbust One Year Later: Did the Short-Term Rental Industry Ever Collapse? James' BiggerPockets Profile Kathy's BiggerPockets Profile Grab the Book, “Short-Term Rental, Long-Term Wealth” Jump to topic: (00:00) Intro (01:43) 2024 Short-Term Rental Update (04:56) "Cracks" Start to Form (07:24) Markets with Growing Demand (11:07) Markets to Be Cautious Of (15:52) International Travelers Return (21:20) Must-Have Amenities/Policies (24:10) 2024 Predictions (25:59) How to Set Your Prices (28:25) Why Nightly Rates Are Falling (29:55) Growing STR Markets (32:19) Everyone's Going to Europe! (36:40) Best Opportunities for Investors Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-242 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	By now we all know that the Airbnb bust headline never really materialized, but the short-term
0:05.7	rental market has shifted a bit. As travel season heats up, is it recovering the way experts
0:11.0	predicted it to? And with so many markets saturated with short-term rentals today, is there
0:16.4	even an opportunity in this space.
0:26.2	I'm Kathy Fedke and welcome to On the Market.
0:29.9	I'm here with the one and only James Dainerd on his yacht.
0:30.8	Hello, James.
0:31.8	Hey, Kathy.
0:33.1	I'm leaving you though.
0:35.0	Me and you aren't going to be in the same stage anymore.
0:35.8	I'm leaving the yacht.
0:36.8	I know.
0:41.5	I feel like we should be having a yacht party instead of the last podcast. You know, we really should,
0:47.0	and I'm ready when you are. I'll be coming back. But don't worry, listeners, James isn't leaving on the market podcast. I was worried there for a minute. He's a busy guy for sure, but he's just
0:52.5	moving from California to a much better tax date.
0:55.7	Yes, I like to keep myself busy.
0:58.2	You know, I'm definitely not leaving the On the Market podcast because we have amazing guests that come on.
1:01.6	And today we're talking with Jamie Lane, the SVP of analytics and the chief economist at AirDNA.
1:08.3	Jamie's team at AirDNA does a ton of data analysis on short-term rental market across the
1:14.5	U.S., regionally and internationally, and their company provides the information you need to underwrite
1:20.0	your deal. Yeah, I love this company, too. I was hoping we'd get a discount on AirDNA for having
1:25.7	Jamie here. But Jamie is here today to tell us what this year's
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.