has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require a password.
Impact of COVID-19
Airbnb Bookings Already Past Pre-Pandemic High in 2023 (Statista, Nov. 2, 2023)
“Even before the global tourism rebound in 2022, Airbnb had found a way to take advantage of the unique circ*mstances created by the pandemic. “We are undergoing the biggest change to travel since the advent of commercial flying,” the company said at the beginning of 2022. “Remote work has untethered many people from the need to be in an office every day,” resulting in millions of people who can live anywhere.”
Airbnb Hosts Say Bookings ‘Fell Off a Cliff’ Amid Influx of New Vacation Rentals and Rising Prices (MarketWatch, Oct. 22, 2022)
The experiences of hosts from all over the country, plus bookings and other data, show that occupancy may have fallen due to a variety of factors: There are many more hosts on the platform; prices have risen and travelers may be cutting back; and pent-up travel demand after the coronavirus pandemic lockdowns drove bookings to record highs last year are coming back down to earth.
Monthly Change in Short Term Rental Bookings Through Selected Leading Online Travel Agencies (Otas) Worldwide From 2020 to 2022 (Statista, May 24, 2022)
What Happened to Airbnb During the Pandemic? (The New York Times, Jul. 16, 2021)
Now many Airbnb hosts are eager to get back to business as usual — although there has been something of a silver lining for these property owners: rising home prices. While hosts lost rental income amid the pandemic, many saw an increase in the value of their property, as there were price increases in 19 of the 20 markets.
Compliance
Which U.S. Cities Have High Airbnb Densities? (Statista, Sep. 6, 2023)
"New York City, for example, recently passed Local Law 18, which requires short-term rental businesses to register with the city, limits guests per property to two and requires the owners to live in the space they're renting out. In practice, this scales back a booming business model rivaling hotels to an approximation of a paid version of traditional couch surfing."
Top Cities Where Airbnb Is Legal or Illegal (Investopedia, Sep. 5, 2023)
“Cities have taken a wide range of approaches to dealing with Airbnb and similar services, so any prospective host needs to know the laws for their city and to keep an eye out for changes to them in the future.”
Short-Term Rental Regulation Toolkit for Policymakers (AirBnB, Jun. 26, 2023)
“A best practices guide to help local policymakers develop fair and balanced short-term rental regulations for registration, transient occupancy taxes, trust and safety, and data sharing.”
Which Cities Have Restrictions on Short-Term Rentals? (Millionacres, May 23, 2021)
Each jurisdiction has a different set of rules, but based on your jurisdiction's interpretation, you may be barred from operating a short-term rental. At present, there are many legal challenges surrounding the use of short-term rentals in residential neighborhoods, with many opponents raising zoning law challenges. This may come as a surprise to you, but you do not want to find yourself slapped with a hefty fine for attempting to operate your short-term rental.
Responsible Hosting in the United States (AirBnB)
A source for recommendations and regulations on general regulations and local regulations.
Vacation Rental Regulatory Resources (Vrbo)
Find out how to stay in compliance with your area’s vacation rental regulations to remain in good standing with local officials and the community. Most government websites will include how to comply with local and state ordinances, such as tax instructions, health and safety standards, licenses/permits, and direct contact information.
* Please check with local government in your rental property area for information on permits, taxation, and regulations.
Websites & Other Resources
2021 Vacation Home Counties Reportpdf (National Association of REALTORS®, Jun. 2021) — There was a noticeable increase in net domestic migration in vacation home counties in 2020 as the median number of net movers rose to 98,279 from 78,114 in 2019. Only the Middle Atlantic division (New York, New Jersey, Pennsylvania) had a net outflow in both vacation and non-vacation home counties.
Rent Responsibly — Through efforts to advocate, celebrate, and educate, Rent Responsibly enables fellow short-term rental stakeholders to collaborate more effectively and efficiently in creating a sustainable future. We help our committed members around the world protect their right to rent and take a leading role in improving our communities.
Vacation Rental Management Association (VRMA) — VRMA works worldwide on behalf of our manager and supplier members to advance the vacation rental industry through education, information, networking, research, and advocacy.
eBooks
Airbnb for Dummies (eBook)
Airbnb for Property Investors (eBook)
Buying a Second Home (eBook)
Create Killer Vacation Rental Property Photos (eBook)
Complete Guide to Investing in Rental Properties (eBook)
The Complete Guide to Real Estate Finance for Investment Properties (eBook)
How a Second Home Can Be Your Best Investment (eBook)
How to Succeed and Make Money with Your First Rental House (eBook)
Leases & Rental Agreements (eBook)
The Real Estate Investor's Tax Strategy Guide (eBook)
The Second Homeowner’s Handbook: A Complete Guide for Vacation, Income, Retirement, and Investment (eBook)
Vacation Rental Management 411 (eBook)
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The inclusion of links on this page does not imply endorsem*nt by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
