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Old 09-10-2017, 09:35 PM
 
17,874 posts, read 15,952,870 times
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Are hospitality corporations now buying up all the residential RE, and pushing up prices even more now?
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Old 09-10-2017, 09:39 PM
 
Location: West Los Angeles and Rancho Palos Verdes
13,583 posts, read 15,664,868 times
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Do those Chinese birth tourism joints count as hospitality corporations?
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Old 09-10-2017, 10:52 PM
 
Location: Los Angeles (Native)
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Quote:
Originally Posted by NJ Brazen_3133 View Post
Are hospitality corporations now buying up all the residential RE, and pushing up prices even more now?
That would be kind of funny if people thought they were renting from independent homeowners on Airbnb but the homes were actually owned by Marriot or something .
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Old 09-11-2017, 10:59 AM
 
Location: Los Angeles
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There is an apartment building in my neighborhood that has three apartments that I know of, that are being illegally abnb rented out by tenants.

The abnb web site showed me that.

I would bet if the owner of the building knew that, he would put a stop to it immediately.

If there were a fire in that building, insurance would not pay out because of the illegal rentals.
Obviously abnb doesn't check the rentals that are placed on their site.

This is a great example of "the hell with you, I'll do what I want".

Bob.
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Old 09-11-2017, 11:20 AM
 
Location: Los Angeles (Native)
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Surprised landlords wouldn't check the Airbnb site since it only takes like a minute or so . I guess some just don't care .

I've heard of some people renting multiple apartments and renting them out on Airbnb.

Seems like it would be harder to do these days since Airbnb is a household name .
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Old 09-12-2017, 01:48 AM
 
Location: Los Angeles
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You can list rentals on Airbnb in a way that masks the actual address. Once a prospective guest expresses interest the owner (or sub-lessor) can disclose the address. Not always easy for owners to police that.

A co-worker relayed a story of his girlfriend's friend who lives in Venice in a rent controlled apartment. She has paid for lucrative vacations to Europe by illegally renting "her" apartment out on Airbnb.
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Old 09-12-2017, 02:08 AM
 
Location: Los Angeles
4,627 posts, read 3,396,306 times
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Quote:
Originally Posted by NJ Brazen_3133 View Post
Are hospitality corporations now buying up all the residential RE, and pushing up prices even more now?
No, they are not. It is not always understood that the big hotel corporations like Hilton or Marriot do NOT own most of their hotels. These days they are primarily franchise companies. Granted they do still own some hotels in prime locations but the vast majority of branded hotels are not owned by the big hotel companies.

The Real Estate Investment Trusts (REIT's) are big players in owning/investing in hotels (i.e., the real estate plus personal property). But they own traditional hotels, not Airbnb/residential projects.

All that said, the hospitality industry is watching Airbnb as the company is scaling up to be a significant player.
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