"Melbourne landlords return to long-term rentals as Airbnb loses its shine.
The Airbnb gold rush appears to be ending, with fed-up landlords returning to the long term rental market after the short term becomes more trouble than it’s worth, agents say.
Difficult and hands-on management, less-than-ideal profits, and a saturated market were turning investors from the one-time disrupter, which was no longer seen as easy money."
This was the start of an article in The Age Domain, our main local newspaper’s real estate section, You can read the rest here.
I see daily articles in the media that mention AirBnB. They usually fall into two categories. The first is people complaining about lack of LTRs blaming it on AirBnB. The second is tangential associations like “Man shot dead after argument over AirBnB payment” or more usually “Teens run amok after police shutdown AirBnB party”. But AirBnB is a hot topic so if there is a connection they’ll mention it in the headline.
Anyway it would good for those who stay if ABB loses hosts as (1) there is less competition and (2) ABB might go back to a more host friendly model. But I wonder if it is even true. First it is real estate agents saying it and they lose on rentals because of ABB and secondly the number of ABB hosts in Melbourne actually increased by 18% in 2016/17. Maybe they mean whole home by-to-let investors rather than run of the mill room renters. I’ve noticed a new whole house property in my street which was sold earlier this year and has just gone on AirBnB. They are charging way too much so I hope they are not relying on it to pay the mortgage.
There was a post back in August '17 where someone said they had seen LTR back in their neighbourhood. Is anyone seeing similar articles in their own local press? Does it tie in with their experience?