It's
reported that Airbnb is in discussions with
some of the country's largest residential landlords and is considering
partnering with them.
This
could add a ton of inventory to the Airbnb platform which is great for people
looking for a short term place to stay. That's good news!
But
what if you're in need of a long term rental apartment or house and the amount
of inventory decreases and what's left is really expensive? What if
you're a current residential renter? Will your options decrease?
Will renewing from year to year increase? The answer is most
likely, "Yes!" This is a double dose of bad news for
residential renters.
Now
for the ugly. If residential tenants decide it's more advantageous to buy
versus rent, then we will see more demand for available residential properties.
This is great news for sellers, lenders, mortgage brokers, and agents but
horrible for buyers.
In
a space-constrained region like the Bay Area, technology stands to disrupt the
residential real estate market with huge implications on those who don't
currently own their own place or aren't in a rent controlled
property.
Stay
tuned!
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