Airbnb CEO admits short-term rentals hurt housing & communities
Barnstable admits short-term rental investors are a housing problem
Barnstable admits short-term rental investors are a housing problem
In Times and Forbes: "We really need to think through our impact," conceding real estate investors and corporate "hosts" are out of control.
Barnstable admits short-term rental investors are a housing problem
Barnstable admits short-term rental investors are a housing problem
Barnstable admits short-term rental investors are a housing problem
"We probably do see a lot of pressure around investors looking to invest in properties to make them short-term rentals." WatchHere
Hundreds of homes in barnstable are tourist businesses
Yes, we have a housing crisis. No, town officials won't change.
In 2018, a group of commercial interests and investors were called in to Town Hall to help formulate short-term rental policy. Town staff called this "a necessary precursor" to any conversation with residents.
Eventually, the Town held one very small focus group of residents, which unanimously identified investors -- the commercialization and conversion of residential homes into tourist accommodations -- as the #1 concern. This concern was ignored by Town staff, the Council's Zoning & Regulatory subcommittee, the Planning Board, and (so far) the majority of Town Councilors.
Airbnb, Vrbo and other platforms are a well known cause of housing crises. Studies by the Wharton School, Economic Policy Institute, Harvard Business Review all agree:
- The presence of Airbnb raises housing costs
- The sheer number of Airbnb listings in a zip code is associated with increases in property prices and rental rates
- Housing supply shrinks as properties shift from serving local residents to serving tourists
- The more lucrative vacation rental market results in properties being removed from long-term to short-term rentals
- While some Airbnb hosts are "mom and pop" home sharers, the field is now dominated by providers who've developed a professional business model from short-term rentals
Barnstable has been asked for years to adopt mainstream short-term rental regs that protect housing and residential neighborhoods. BarnstableWatch, Civic Associations, and interested citizens even collaborated on our own mainstream regs See them here. The Town never even discussed them, not for one minute, in one meeting.
The final vote has been delayed over and over -- but few officials, even those who preach about housing, have changed their minds. Why?
Short-term rentals are big business invading your neighborhood.
Short-term rental businesses: Barnstable's proposal takes away residential zoning protections
There will be nowhere you can live in town, no quiet street you can buy a home, where a real estate investor can't buy next door and operate a full-time Airbnb/Vrbo lodging business. The chair of the Zoning & Regulatory committee that approved the policy admitted it on May 3, NewsRadio 95 WXTK.
The Town said it has no idea what effect its investor-friendly short-term rental policy will have
In February, the proposal was presented to the Town Council. A question was asked: "Do we know the effect it will have on the town in 1, 3, or 5 years?" The answer was "No." Fact is, the Town's zoning change allowing commercial lodging everywhere, next door to you, is a Pandora's Box.
Only 1/3 of hosts are real home-sharers, business interests put them out front for PR
These moms and pops, who often need the rental income, are used as "human shields" to distract from what short-term rentals are now: large scale conversion of homes into businesses by investors and corporations with 25+ listings. (We don't know anyone who objects to our traditional summer rentals.)