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NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

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Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#41

Post by wdewind »

sstrudeau wrote: post #24
wdewind wrote: post #19

Earlier quoted context omitted.

Absolutely. The NYC real estate market is an absolute nightmare in so many ways. Right now it seems most akin to the DeBeers control over the diamond market (ie: an industry based on false scarcity).

No, I think apartments really are scarce. It's not like landlords are sitting on vast quantities of inventory to drive up rents. That said, rent regulation (mostly rent stabilization vs. rent control, these days) does skew the market, creating a small number of lottery winners lucky to have below-market rents and driving up rents for everyone else competing for the unregulated inventory, regardless of their economic…

That's actually exactly what's happening in the management companies. If you go an ask for an apartment from a broker in a price range in a neighborhood range you will automatically be told "That's a nice idea, but what youre asking for doesn't exist. Try this one for the same price in a different neighborhood, or try the same neighborhood for $300 more than you would pay."

If you are trying to move to a similar apartment that you are in, in the same neighborhood, for the same price, you will be told your apartment does not exist.

If you go to a management company trying to get into a big complex like StuyTown or any of the luxury rentals you will be quoted a price that is pulled out of thin air, and you will be lied to that "this is the last apartment available in XYZ highrise."

In short, managers are absolutely sitting on the best deals because they ALWAYS try to move the riskier product first. As the market gets worse, there is more risky property available, and thus it is even HARDER to find a good deal in a bad economy through brokers (the current gatekeepers of the market).

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#42

Post by jbooth »

wdewind wrote: post #41
sstrudeau wrote: post #24

Earlier quoted context omitted.

No, I think apartments really are scarce. It's not like landlords are sitting on vast quantities of inventory to drive up rents. That said, rent regulation (mostly rent stabilization vs. rent control, these days) does skew the market, creating a small number of lottery winners lucky to have below-market rents and driving up rents for everyone else competing for the unregulated inventory, regardless of their economic…

That's actually exactly what's happening in the management companies. If you go an ask for an apartment from a broker in a price range in a neighborhood range you will automatically be told "That's a nice idea, but what youre asking for doesn't exist. Try this one for the same price in a different neighborhood, or try the same neighborhood for $300 more than you would pay." If you are trying to move to a similar apar…

If there's one rule of new york city real estate, it's that this is always the last apartment in the building, and I always have someone else coming by to sign for it in an hour, but if you sign right now..

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#43

Post by earl »

djb_hackernews wrote: post #6
p3ll0n wrote: post #5

Interesting comment on related article by NYT that offers some insight into what type of behavior this bill may be aimed at curbing ... http://cityroom.blogs.nytimes.com/2010/06/29/bill-could-make...

I've seriously underestimated the popularity of airbnb if people are purpose building structures (undercover no less) for the sole purpose of marketing them as a place to crash on airbnb. Also amazed that neighborhood groups have "Illegal Hotels Committee"s

Well, try living with me. I live in Ashbury Heights in SF. Our next door neighbor runs a possibly illegal short stay hotel. It sucks ass -- this is a quiet residential neighborhood and he rents to either redneck trash that think it's appropriate to open their car windows, blast country music as loud as their stereos will go, and drink cheap beer on the sidewalk at 2 in the morning or to eurotrash who at least have their loud parties in the house, but tend to party much later. I've had to repeatedly call the police, and finally settled the problem, for the most part, by setting my alarm for 4 AM and ringing the doorbell of the owners / using an air horn to wake the owners up. I made him understand that when I don't sleep, his family doesn't sleep, and he finally cracked down on it.

I still have his drunk assholes peeing on our garden once a month.

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#44

Post by jrockway »

w1ntermute wrote: post #3
samratjp wrote: post #2

Sweet - this can only get more free publicity for AirBnB & similar services.

Unless the bill is actually passed, in which case it would have a significant negative impact as well.

Yeah, just like how nobody uses illegal drugs anymore.

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#45

Post by callmeed »

I think is only going to happen more and more across the country. I understand AirBnB is disruptive to some degree, but you have to consider:

- Cities that rely on tourism generate revenue from hotel "bed taxes" which are often higher or in addition to sales tax

- People who are making money on AirBnB by renting out rooms probably aren't paying income tax on it (call it a hunch)

- All the sublease/short-term laws that exist already. For example, in Shell Beach, CA (near where I'm at) you cannot rent a house/room for less than 1 month. People on VRBO are already sketchy about this when you call.

- I still see significant liability issues for both sides. Seriously, what happens if you rent out a room illegally and the guy/gal slips and falls in your shower? What if your dog bites them?

I want AirBnB to do well, but could enough local/state government regulations threaten their growth/existence?

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#46

Post by [deleted] »

jbooth wrote: post #25
wdewind wrote: post #19

Earlier quoted context omitted.

Absolutely. The NYC real estate market is an absolute nightmare in so many ways. Right now it seems most akin to the DeBeers control over the diamond market (ie: an industry based on false scarcity).

Only sort of. Rent control's been phased out quite a bit over the decades and since the financial collapse, market rents are below the rent control caps all over the city. I'm currently in a rent-controlled apt, not paying full rent because the rent-controlled maximum drifted above what the market would bear. In 2008, you'd definitely have been right.

[deleted]

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#47

Post by blhack »

earl wrote: post #43
djb_hackernews wrote: post #6

Earlier quoted context omitted.

I've seriously underestimated the popularity of airbnb if people are purpose building structures (undercover no less) for the sole purpose of marketing them as a place to crash on airbnb. Also amazed that neighborhood groups have "Illegal Hotels Committee"s

Well, try living with me. I live in Ashbury Heights in SF. Our next door neighbor runs a possibly illegal short stay hotel. It sucks ass -- this is a quiet residential neighborhood and he rents to either redneck trash that think it's appropriate to open their car windows, blast country music as loud as their stereos will go, and drink cheap beer on the sidewalk at 2 in the morning or to eurotrash who at least have th…

>I still have his drunk assholes peeing on our garden once a month.

Get a dog.

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#49

Post by nerme »

jrockway wrote: post #44
w1ntermute wrote: post #3

Earlier quoted context omitted.

Unless the bill is actually passed, in which case it would have a significant negative impact as well.

Yeah, just like how nobody uses illegal drugs anymore.

The people who sell illegal drugs don't advertise the fact on the web, at least not for very long.

Re: NY hotels trying to outlaw short-term home sublets (i.e. AirBnB)

#50

Post by dschobel »

nerme wrote: post #49
jrockway wrote: post #44

Earlier quoted context omitted.

Yeah, just like how nobody uses illegal drugs anymore.

The people who sell illegal drugs don't advertise the fact on the web, at least not for very long.

Have you been to craigslist? Seriously, go take a look.
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