Curzon Blog

Airbnb...again

Airbnb_Logo_Belo.svg_1.pngIt's been a little while since we've rounded up the recent woes of Airbnb in New York City; the city's residents walk a fine line when trying to make a profit renting out their homes, and with good reason. As we've mentioned many a time - seriously, again and again - misuse of the platform can exacerbate all the pre-existing problems in NYC's already hectic housing marketplace.  

So what's going on with NYC Airbnb (couldn't resist that rhyme, sorry) lately? Well, for one thing, a recent report somewhat assuages the common fear that Airbnb is driving up rents; according to data analysis by FiveThirtyEight.com, Airbnb rentals have not yet brought about any significant change to rental prices in its major cities of operation. However, given New York's incredibly low vacancy rates, even a seemingly negligible amount of off-the-market inventory creates an impact that other residents - and, even more so, those relocating to the city and searching for housing - can feel. As per Gothamist's analysis of FiveThirtyEight's report:

"Looked at through the lens of New York's severe housing shortage, however, another picture emerges. A city housing survey in 2014 found that just 3.45 percent, or 75,900 of New York's 2.2 million apartments were vacant at a given time. Last month, data compiled by the firm Citi Habitats showed that just 1.92 percent, or 16,500 of Manhattan's about 854,000 apartments were available. In this context, 2,400 apartments (more or less) is kind of a big deal."

Kind of a big deal indeed. More on that here

Also from Gothamist, here's a juicy little case study of an Airbnb rental gone wrong...as Stefon would say, this. Story. Has. Everything: shadiness on the part of Airbnb. The unsatisfied customer who happens to be an associate at a law firm and is, of course, suing. Roosevelt Island. A Victoria's Secret model (the host of the Airbnb). Read on here.

Tags: Airbnb, Gothamist, News, Rent

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