What makes a traveler choose Airbnb over a hotel? A variety of reasons, one survey by IPX1031 revealed, including privacy and better options.

And with many second home owners opting to take advantage of the relative ease short-term rental companies like Airbnb provides in earning a little income from a property that sometimes sits dormant, knowing what moves the needle for a prospective guest is important.

IPX1031 surveyed 2,000 Americans to get a better idea of why they might choose a short-term rental over a hotel.

“According to survey respondents, 68 percent would choose to rent an Airbnb over a hotel, even if the prices were the same,” the company said. “Privacy, uniqueness of rental, free parking and pet-friendliness were some of the top factors that set Airbnb apart from hotels, according to our survey.”


According to the survey, 61 percent would choose an Airbnb over a hotel, while 72 percent felt that short-term rentals were better for group travel. But 68 percent said they’d choose an Airbnb even if the rate was the same as a comparable hotel room. (more…)

Who will buy this US$3.8 million New Zealand penthouse?

In the good old days, the wealthy used to scoop up gold and jewels and flee in the dead of night before poor, angry peasants descended upon their estates. Today, the million-dollar jewels are often red carpet loans where today’s décolletage is rented like a yesteryear billboard.

Hiding assets from pillagees, modern-day pillagers have offshore banks, blind trusts, LLCs and cryptocurrencies. Fleeing is now the purview of private jets to far-away lands – but the local residents in those faraway lands are getting ticked-off at being priced out of their own markets and they’re mobilizing.

Last month, New Zealand passed a law banning many foreigners from purchasing existing homes. The legislation was part of a promise during Prime Minister Jacinda Ardern’s campaign in 2017 to reduce the country’s skyrocketing housing prices. Earlier in the year The New Yorker published a story about super wealthy Americans purchasing New Zealand real estate as a hedge against potential political or nuclear Armageddon – nicknamed “apocalypse insurance.”

Why New Zealand? (more…)

south padre island

With views and playgrounds like this, South Padre is a popular destination.

Previously this week, we discussed how the housing market in South Padre Island could really give vacation home seekers a lot of bang for their buck.

Today, we’ll look at how that bang can become a boom — if you’re willing to jump through a few hoops the city says are designed to protect renters, landlords, and make sure city resources are allocated wisely.

With South Padre appearing regularly on lists of best beaches for families and best Spring Break beach destinations, it stands to reason that there are a fair amount of people looking for the freedom and room a condo or beach house might offer, as opposed to a hotel.

“Spring break brings 50,000 to 60,000 people in at one time — and the population of South Padre is only 2,800 or so,” said Gary Tate of Keller Williams Lynne Tate South Padre Island. (more…)

Vacation Home Rental RECENTER

With the economy on the upswing, better interest rates, and stock market gains, vacation homes and second home purchases are booming. By the lake, in the mountains, near the cost, in the desert — there are tons of great locations with plenty of fantastic properties. And sometimes a second home can actually make you money.

Do you occasionally rent out your vacation home? Services such as VRBO, HomeAway, and Airbnb are increasing in popularity, sometimes becoming a reliable second income stream for homeowners. Oftentimes the cost of maintaining these income-producing properties can be deducted. However, pitfalls abound. This report from the latest issue of Tierra Grande, the quarterly magazine produced by the Real Estate Center at Texas A&M University, spells out the particulars of how vacation homeownership can lead to a tricky situation without proper record keeping.


Azure balconey

This article in Daily Finance tells us what we have known for awhile: with all the changes in our economy, people are thinking differently, too, about ownership of “things”. Why buy a car, a jet or a vacation home when you can share it? Apparently this trend is moving from Wall Street, where asset sharing has long been popular. Then there’s airbnb. I met the founders of this fabulous website in San Francisco. Guess how they started out? They couldn’t pay their rent. In order to gather enough moola to make the rent payment on time, they posted an ad on Craig’s List during a very busy convention time in San Francisco when all the hotels were filled, offering their home for lease. That weekend they sub-leased their apartment and made enough to cover a whole month’s rent. Often, it turns out, the greatest creative ideas are created out of sheer survival need!

If you have a second home, you can turn that into a third home over at 3rdHome.com. But with airbnd, all you need is a spare room or even a tugboat! If you are willing to rent it out and have strangers in your home, property owners only pay a 3% commission on any completed bookings. The listing is free. There are now more than 70,000 listings on the site. And as we learned in San Francisco, VC (venture capitalists) have been investing heavily in airbnb in recent months, so an IPO in the next year or two isn’t out of the question.

That’s right. These guys went from not being able to cover the monthly rent check to maybe pulling in several million dollars. Times are very different. We are a Renter Nation now. And that means that some of us will even take in boarders!

And then get rich!