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That's why I think a decline would be slight. Affordable housing draws millionaires from the mainland seeking greener pastures and blue-er waters. It lacks the understated elegance of SoCal or the intellectual invigoration of Silicon Valley but it's nice enough to keep property values high.
By the way, I think you're right about the 30-day leases. I booked and paid for more than a month in an Airbnb on the Big Island but stayed for a mere 2 weeks. I informed the owner that I was vacating early so that he would have the opportunity to find another occupant and make extra money.
Yep, which is why the vacation rental association in question sued the government. Ultimately, though, a refund may not even be necessary for such a scheme to work if the monthly price is reasonable in itself compared to, say, what the weekly or bi-weekly price would typically be for such a unit. There are multiple ways I could envision this workaround working.
Doesn't have to be through Airbnb . . . there are other short term vacation rental sites and, trust, they will adapt to make money if they aren't already set up for such a scheme. And, ultimately, whether to refund someone will be up to the property owner. There will be a go around, and the vacation rental association is already envisioning it, which is why it is seeking a settlement with the government on the grounds that it is.
low hanging fruit. Much as with ride sharing, there are alternatives off the platforms. You can ride share via craigslist, facebooks, text, email, whatever. But having to use alternate means from the main platforms makes it much more difficult. As other rental platforms mature and become popular, they will simply be added to the list of companies that need to comply.
A scheme where the owner rents out for 30 days for below market rates can unfold if you get a bunch of vacationers deciding to actually take them up on the 30 day offer. Telling friends, family whoever, that they rented out a house for $700 for the entire month, and they can stay there after their vacation is done. As a landlord, you will run into A LOT of trouble attempting to double book your place when you run into overlapping tenants. The whole reason airbnb works is because it's a vacationing platform that doesnt screw up the scheduling, which is a problem you'll run into playing the 30 day game.
low hanging fruit. Much as with ride sharing, there are alternatives off the platforms. You can ride share via craigslist, facebooks, text, email, whatever. But having to use alternate means from the main platforms makes it much more difficult. As other rental platforms mature and become popular, they will simply be added to the list of companies that need to comply.
A scheme where the owner rents out for 30 days for below market rates can unfold if you get a bunch of vacationers deciding to actually take them up on the 30 day offer. Telling friends, family whoever, that they rented out a house for $700 for the entire month, and they can stay there after their vacation is done. As a landlord, you will run into A LOT of trouble attempting to double book your place when you run into overlapping tenants. The whole reason airbnb works is because it's a vacationing platform that doesnt screw up the scheduling, which is a problem you'll run into playing the 30 day game.
Definitely a risk, but there are ways to mitigate so the risk of what you describe happening is not very high (charging a certain amount, requiring flight itineraries, only allowing people whose names are on the lease to occupy the unit or else requiring someone on the lease be physically present if guests are over, etc.); I think folks will be fine via a new booking mechanism, though, especially as airbnb dries up with listings as the new law is enforced (that is, unless airbnb itself doesn't change its policies for Hawaii listings in order to stay in the game) and word of mouth spreads about new ways to book vacation rents on Oahu. Hell, I'd imagine that there's even a way to still use Airbnb now that would just involve the property owner cutting a check for the unused days
Note, I don't expect this new culture to develop overnight/instantly, but its something that I'm hoping allows people to rent out their property still as they have been doing before.
Definitely a risk, but there are ways to mitigate so the risk of what you describe happening is not very high (charging a certain amount, requiring flight itineraries, only allowing people whose names are on the lease to occupy the unit or else requiring someone on the lease be physically present if guests are over, etc.); I think folks will be fine via a new booking mechanism, though, especially as airbnb dries up with listings as the new law is enforced (that is, unless airbnb itself doesn't change its policies for Hawaii listings in order to stay in the game) and word of mouth spreads about new ways to book vacation rents on Oahu. Hell, I'd imagine that there's even a way to still use Airbnb now that would just involve the property owner cutting a check for the unused days
<SNIP>
Note, I don't expect this new culture to develop overnight/instantly, but its something that I'm hoping allows people to rent out their property still as they have been doing before.
The vacation rentals in residential neighborhoods is the problem, enough of a problem to get legislation involved. Why do you think folks are going to be good with whatever 'work around' is found? As population density increases, misbehavior (in this case, renting to tourists in areas that aren't set up for it) will just be more noticeable.
So far it's not become violent, but if a neighborhood gets fed up enough with an illegal rental, wouldn't things like trash being thrown in the yard start happening? Maybe graffiti on the doors? Even breaking things? Yes, all that is illegal, but so is renting out a property to tourists and disturbing a quiet neighborhood.
there are still a lot of illegal units advertised on AirBnb. Listings with no physical address or NUC permit listed. But hopefully as enforcement gets going they will disappear.
I doubt many tourists would be comfortable signing a 30 day rental agreement and paying for 30 days and then hoping they get their money back if they leave early. I wouldn’t do it.
I doubt many tourists would be comfortable signing a 30 day rental agreement and paying for 30 days and then hoping they get their money back if they leave early. I wouldn’t do it.
Nobody would.
Most of the illegal rentals are off the site with a couple of holdouts. I see 4 in Kailua where previously I'd see dozens of entire homes for rent.
The vacation rentals in residential neighborhoods is the problem, enough of a problem to get legislation involved. Why do you think folks are going to be good with whatever 'work around' is found? As population density increases, misbehavior (in this case, renting to tourists in areas that aren't set up for it) will just be more noticeable.
So far it's not become violent, but if a neighborhood gets fed up enough with an illegal rental, wouldn't things like trash being thrown in the yard start happening? Maybe graffiti on the doors? Even breaking things? Yes, all that is illegal, but so is renting out a property to tourists and disturbing a quiet neighborhood.
They don't have to be good with it, but there's only so much the government can do here without hampering others and possibly running afoul of the law itself.
Also, there's a big difference between vandalizing someone else's property and finding a workaround a vacation rental law regulating what you can do with your own property. Also, the workarounds I envision aren't illegal per se, though they violate the spirit of the law.
Trust, folks aren't just going to give up offering short term vacation rentals, but will find workarounds as the vacation rental association settlement is already alluding to.
there are still a lot of illegal units advertised on AirBnb. Listings with no physical address or NUC permit listed. But hopefully as enforcement gets going they will disappear.
I doubt many tourists would be comfortable signing a 30 day rental agreement and paying for 30 days and then hoping they get their money back if they leave early. I wouldn’t do it.
I would, especially if I'm in a group and we split payment and if the rental contract makes clear that anyone staying for less time will not be penalized and will get the difference back. In such a case, there's a legally binding document.
Also, it doesn't have to be such a high 30 day price that will turn people off from paying. But it also can't be so low as to invite people to abuse the process and stay for the full 30 days as they are getting a "steal."
I would, especially if I'm in a group and we split payment and if the rental contract makes clear that anyone staying for less time will not be penalized and will get the difference back. In such a case, there's a legally binding document.
Also, it doesn't have to be such a high 30 day price that will turn people off from paying. But it also can't be so low as to invite people to abuse the process and stay for the full 30 days as they are getting a "steal."
Hhhmmmmmmm.......a legally binding document for an illegal operation. Veeerrrrrryyyyyyy iiiiiinnnttterrresting!
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