The Growth of the Short Term Rental Industry

Name: The Growth of the Short Term Rental Industry
Uploaded: 2021-11-16T15:51:45+00:00
Duration: 49 s
Channel: Tim Hubbard
Description: Tim Hubbard discusses the rapid rise of Airbnb and short-term rentals, arguing they are reshaping rental markets. He highlights the influx of…

16 Nov 2021 · 1 min

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Tim Hubbard discusses the rapid rise of Airbnb and short-term rentals, arguing they are reshaping rental markets. He highlights the influx of institutional money (large hedge funds), a shift in development toward properties purpose-built for short-term stays, and demographic/behavioral changes—greater mobility and remote work—that enable longer, flexible stays.

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Millions and millions and millions of people are staying in Airbnbs all around the world. Things have changed. Right, this, this is the future for a lot of rental. So really excited about that. But along with this giant valuation, something else happened. We're attracting institutional money. So large hedge funds are coming into the picture. Developers are building properties now designed for short term rentals because they've realized that millennials and a lot of the population are more mobile than we've ever been. We're working remotely, we can stay in places longer, and so we are catering to that. So short term rentals and Airbnb's helps complete that picture.