Earlier than the launch, the corporate shared the brand new device with San Francisco’s Office of Short-Term Rentals. “They’re fairly constructive about it and hopeful it will undoubtedly enhance their potential to get unhealthy actors off the platform,” mentioned Jeffrey Cretan, a spokesman for the town’s mayor.
Maybe due to these scofflaws, Airbnb says it has not misplaced vital listings. In accordance with AllTheRooms Analytics, amongst fashionable cities in Europe, solely Rome and Lisbon have shed listings, about 2,000 every. In Lisbon, the crackdown nonetheless leaves simply above 14,500 listings, the identical determine as in January 2019, however down from the height in July 2019.
The impact of extra rules might present up sooner or later, posing a risk to a strong portfolio. “For a platform like Airbnb, they’re not simply nervous concerning the demand aspect, however the provide aspect,” Mr. Mody, of Boston College, mentioned, noting the journey freeze might persuade hosts to place their models within the long-term rental market, shrinking the platform, and worrying potential buyers. “Once you’re dwelling on enterprise capital, profitability just isn’t as necessary as progress,” Mr. Mody added. “Shareholders will likely be rather a lot much less affected person.”
The music stops at celebration homes
Throughout the pandemic, Host Compliance, which tracks authorized compliance amongst short-term leases for 350 cities and counties in america, mentioned noise complaints about so-called “celebration homes” tripled.
“Lots of people have been at dwelling for a very long time and so they must let some steam off and might’t bounce on a airplane to go to Europe or Cancún to celebration so they’re renting out short-term leases in driving distance from their houses,” mentioned Ulrik Binzer, the founder and basic supervisor of Host Compliance.
Usually, these leases are in residential neighborhoods, triggering noise complaints and well being considerations about massive gatherings.
