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AirBnB, VRBO, executive rentals etc. vs. local hotels


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#1 VicHockeyFan

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Posted 06 April 2014 - 10:33 AM

 

IMHO this should have stayed a hotel.

 

 

This got me thinking, how much are hotels being eroded by private rentals?

 

I mean look, only 5 years ago, you sure could try to rent your place out, but it was hard to place it online somewhere it would be found, and even then you might have to know how to build your own website, and as if any individuals could take credit card payments etc. back then.

 

But now, if you are going away on holiday for even 3 weeks, you might be able to pick up some extra cash renting your home pad on Air B & B, while you are on vacation elsewhere.

 

Air B & B has over 350 listings in Victoria, when I searched a random date in June.

 

Or even let's say you have an apartment building with studio suites, that you normally just rent to normal, monthly, local residents.  But say you have an opening coming up, someone gives their notice for  for July 1st.  How easy would it be to make this a Air B&B place over the summer.  All you need to buy is a some bedding, linens etc.



#2 Sparky

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Posted 06 April 2014 - 12:55 PM

I use VRBO a lot. Always been more than great.

#3 VicHockeyFan

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Posted 06 April 2014 - 02:08 PM

I use VRBO a lot. Always been more than great.

 

I'm heading to the Mainland soon on business, I've just booked a Yaletown 17th floor condo for a night, $95 and it has phenomenal reviews.  That's half the price of a hotel room.


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#4 Sparky

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Posted 06 April 2014 - 02:25 PM

And probably a lot larger.

#5 VicHockeyFan

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Posted 06 April 2014 - 02:26 PM

And probably a lot larger.

 

It's decent, for sure.



#6 KAS

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Posted 06 April 2014 - 02:31 PM


 

"Or even let's say you have an apartment building with studio suites, that you normally just rent to normal, monthly, local residents.  But say you have an opening coming up, someone gives their notice for  for July 1st.  How easy would it be to make this a Air B&B place over the summer.  All you need to buy is a some bedding, linens etc."

 

It also depends on zoning, doesn't it.  Not everywhere is zoned for 'transient' rentals, which AirBnB rentals are.


Edited by KAS, 06 April 2014 - 02:32 PM.


#7 VicHockeyFan

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Posted 06 April 2014 - 02:47 PM

 

 

"Or even let's say you have an apartment building with studio suites, that you normally just rent to normal, monthly, local residents.  But say you have an opening coming up, someone gives their notice for  for July 1st.  How easy would it be to make this a Air B&B place over the summer.  All you need to buy is a some bedding, linens etc."

 

It also depends on zoning, doesn't it.  Not everywhere is zoned for 'transient' rentals, which AirBnB rentals are.

 

 

I guess it might.  I'm also guessing many Air B & B rentals are not in buildings/zonings that specifically allow it.  But when it's one-to-one rentals, who can enforce it?  I can probably lend my rental apartment to my friend for a day or a week, I certainly can with my owned condo or house, who can tell if it's a close friend/relative or if it was transacted online?



#8 spanky123

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Posted 06 April 2014 - 07:41 PM

I guess it might.  I'm also guessing many Air B & B rentals are not in buildings/zonings that specifically allow it.  But when it's one-to-one rentals, who can enforce it?  I can probably lend my rental apartment to my friend for a day or a week, I certainly can with my owned condo or house, who can tell if it's a close friend/relative or if it was transacted online?

 

Many cities now are requiring permitting for rentals lasting less than 30 days to try and curb this. The cities lose out quit a bit on hotel taxes with Airbnb and the like.

 

I have tried Airbnb before and it is hit and miss. The price may be less than a hotel but at least you know the hotel room will be clean, fully stocked and everything works (or else you can call the front desk).



#9 VicHockeyFan

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Posted 06 April 2014 - 08:27 PM

 

I have tried Airbnb before and it is hit and miss. The price may be less than a hotel but at least you know the hotel room will be clean, fully stocked and everything works (or else you can call the front desk).

 

I think I trust user reviews.



#10 jonny

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Posted 07 April 2014 - 08:11 AM

I'm heading to the Mainland soon on business, I've just booked a Yaletown 17th floor condo for a night, $95 and it has phenomenal reviews.  That's half the price of a hotel room.

 

I rented a room at the Hyatt through Hotwire for $105/night a couple of weekends ago. If it's not the summer you can generally get some pretty good deals in downtown Vancouver.



#11 Mike K.

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Posted 07 April 2014 - 08:46 AM

The nice thing about AirBnB rentals is unlike a hotel "room," you have a fully apportioned suite if not a multi room apartment (or an entire house, whatever you're looking for) and you're likely in an area that you'd never normally be in. I book with AirBnB and VRBO exclusively when I travel and I haven't been dissatisfied yet. I'm sure there are weird hiccups and stuff but user reviews generally paint a very accurate picture of the home you're about to rent.

And best part is, for what you're getting the nightly price is a pittance.

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#12 Holden West

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Posted 07 April 2014 - 09:49 AM

I'd hate to be staying at a condo and a plumbing emergency occurs and I'm ankle deep in water on the phone trying to reach somebody.

 

Condo owners are nervous about this. Insurance is a big issue. If a guest causes major damage and the strata council is shown to be aware suites were being used as a hotel suite then the insurance company could raise a fuss. Also, regular owners can get frustrated at guests who ignore or aren't aware of existing tenant/owner regulations regarding noise, security, garbage and recycling etc.

 

That said, I almost did this for my suite as I was seduced by the potential financial windfall compared to standard monthly renting out of the unit.


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#13 gumgum

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Posted 07 April 2014 - 09:19 PM

VRBO etc are great but a real pain in the ass compared to simply booking a hotel. There's a lot of back and forth, confirming and re-confirming. I wish there was a hybrid between the convenience of booking of a hotel vs the benefits of staying at a real home.

#14 Jason-L

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Posted 07 April 2014 - 09:31 PM

Of interest: San Francisco cracking down on Airbnb rentals.

 

It's a sweet deal for Airbnb.  They collect their cut, but take on none of the liability or risks, or any of the insurance or maintenance costs.  That's all downloaded onto the subcontractor (the condor/apartment owner), who absorbs all the risk to make a few bucks.



#15 VicHockeyFan

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Posted 07 April 2014 - 09:49 PM

Of interest: San Francisco cracking down on Airbnb rentals.

 

It's a sweet deal for Airbnb.  They collect their cut, but take on none of the liability or risks, or any of the insurance or maintenance costs.  That's all downloaded onto the subcontractor (the condor/apartment owner), who absorbs all the risk to make a few bucks.

 

Ya, but the homeowner sets the price, so they can include dollars to cover depreciation, damage, wear.  Air B & B is just providing a kickass advertising, reservation, verification, and money transaction system that individual owners could not possibly afford.

 

Now, guys that are renting their living room etc., like the person featured in the story, inside a rental apartment where they likely share some utilities in common, well they are asking for trouble.



#16 Mike K.

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Posted 07 April 2014 - 09:52 PM

The renter pays for the cleaning costs through an additional fee. Both parties are also protected via insurance if something goes awry.

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#17 VicHockeyFan

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Posted 16 July 2015 - 08:51 PM

http://www.cheknews....rentals-109500/

 

Victoria to take a closer look at Air BnB rentals | CHEK

 



#18 Coreyburger

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Posted 16 July 2015 - 09:28 PM

 

I don't have any problem with individual people renting out their houses/apartments, but I am glad the city is looking closer, because like other places, I suspect we are losing rentals and rented condos to AirBND in large numbers as purely investment properties.



#19 sebberry

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Posted 16 July 2015 - 10:31 PM

I don't have any problem with individual people renting out their houses/apartments, but I am glad the city is looking closer, because like other places, I suspect we are losing rentals and rented condos to AirBND in large numbers as purely investment properties.

 

Wouldn't want homeowners to be renting out their properties as they see fit now, would we?  Much easier to set your sights on the rights of individual property owners than to address the underlying issues that are leading to low vacancy rates. 

 

I doubt very much that our low vacancy rates have anything to do with Air BnB, they've been low long before Air BnB came about. 


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#20 Mike K.

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Posted 17 July 2015 - 05:47 AM

I don't have any problem with individual people renting out their houses/apartments, but I am glad the city is looking closer, because like other places, I suspect we are losing rentals and rented condos to AirBND in large numbers as purely investment properties.


You really don't have to suspect anything. You can go on AirBnB and take a tally of how many condos are on there.

And there are very few. It's not an issue at all as far as housing is concerned.
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