12/19/2023 0 Comments Long term air bnbsHe explained that they were able to measure the effect using contracted long-term rental prices versus asking long-term rental prices, which previous Airbnb studies have used-despite the fact that anyone can ask for $10,000 per month for rent but that doesn’t mean that’s what they’ll get. “But with our data ability, we can actually study this thing in a legit way.” “Everyone wants to know the effects of Airbnb, that’s just a hot topic,” Seiler said. And to further enforce its regulation, Irvine works with a property technology company to monitor and detect violations. Irvine is one of the few cities that strictly enforces such regulation and actually prohibits Airbnbs in residential zoning areas. In order to understand this Airbnb effect on long-term rentals, the authors focused on legislative bans on short-term rentals in general, and an Airbnb ordinance in Irvine, Calif., in particular. “So there’s a substitution effect, as we call it.” “If people are renting their place out short-term, well, then that place is now no longer available for long-term,” Seiler said. ![]() ![]() The paper is under revision for a top field journal in real estate, they said. ![]() Seiler decided to go deeper in his research, with coauthors-Purdue University economics professor Ralph Siebert and Chinese University of Hong Kong real estate professor Liuming Yang-in a paper, “Airbnb or Not Airbnb? That is the Question: How Airbnb Bans Disrupt Rental Markets,” shared with Fortune.
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