Every City Should Have Lots of Airbnb Apartments — Except Mine. Here’s Why.
Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.Scott: I am an Airbnb hypocrite — because I love to travel.
Airbnb makes travel more affordable for tourists but renting more expensive for locals. Is this really true?
There have been various studies and investigations that say so. Of course, some of these may or may not have been corrupted with hotel sponsorship money.
But I’ll go with my intuition / common sense on this one. Have rents in (insert popular tourist city here) gone up because of people snapping up apartments to list on Airbnb for more money than they could get from a tenant? I’ll say YES… in the popular neighborhoods of those cities.
It’s supply and demand. I’m NOT talking about the person who lives alone in a 2-bedroom apartment and rents out their spare bedroom on occasion. This is about the person / business who buys or rents an apartment (or many!) then makes it into a mini-hotel.
Airbnb has been a big part of how I’m able to stay so long overseas. I like to rent a regular place in a convenient area, but not on the main tourist strip so I save money and get a more authentic experience.
Then I’ll use points to splurge for a fancy weekend hotel stay.
I can’t imagine all the Airbnb apartments for rent do NOT drive up rents for locals. It seems to me that it’s a great business for the locals who participate and not so great for those who don’t.
For instance, I stayed in Krakow, Poland, where my host had apparently created a network of apartments all over town — and with multiple units in our building.
You can’t tell me that kind of thing doesn’t cut some of the supply and thus raise prices… unless there’s just a glut of affordable housing in the area.
One argument I do NOT buy is that hotels lose a lot of business to Airbnb. Because they’re totally different experiences. And because — take my situation for example — I want to stay 6 weeks in a city. I’m never going to buy 6 weeks at a hotel.
But I have purchased 5 weeks at an Airbnb and added on a week at a hotel using money and points. So the hotel got business it wasn’t going to get if I didn’t have a way to stay longer in that city. And local businesses got more of my tourist spending and so on.
So I like all that for MY neighborhood in MY city, but naturally I don’t want that to increase rents. Unless of course I decide to become a landlord…
Get Free Airbnb Stays With These 2 Credit Card BonusesCapital One® Venture® Rewards Credit Card – The bonus offer is worth $500 off travel expenses like Airbnb
Chase Sapphire Preferred® CardAPPLY NOW
Chase Sapphire Preferred® Card
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®.
Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 03/31/22.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Either $5 or 5% of the amount of each transfer, whichever is greater.
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)