How to sell your house with Airbnb, says real estate expert
A real estate agent in New Jersey is warning prospective buyers that they might not be able to find a place to live on Airbnb in the state if they’re looking for affordable rent.
The real estate website Zillow, which measures the popularity of home sales, says that New Jersey has one of the highest rental vacancy rates in the country.
It has the third-highest vacancy rate in the nation among metropolitan areas, with 2.2 percent.
It has also the highest number of Airbnb listings.
Zillow says that’s because many landlords are looking for cheaper space in New York City, where the city has seen a surge in housing demand.
Airbnb has been making a splash in the New York area, as well, and the company has said that it is expanding to more cities in the future.
However, real estate agents say that Airbnb has been a big problem in New England, and are warning prospective homeowners that renting out their apartments can be very expensive.
“The most common problem people have is they want to get into their apartment, and they don’t have a place available, so they go to Airbnb, and it’s a great option,” said Chris Noll, a real estate broker with Cushman & Frierson.
“They’ll rent for $50 an hour, or they’ll rent out their place for $100 an hour and it works really well.
If you don’t own the property, it’s really easy to rent out the apartment for $200 an hour.”
Zillows spokesperson said that while Airbnb is available to residents of New Jersey, it is not available to nonresidents.
However in recent years, Airbnb has also been making some efforts to get more people to rent their properties out.
“This is definitely the best option out there for a new tenant, and in the end it’s going to be the landlord that pays for it,” said Noll.
“If you’re an Airbnb member, you can rent your space to anybody in the world, including your landlord, for the lowest price they’ll pay.”
Real estate agents have also been warning about the danger of not making sure that a property is affordable for people who might be moving out, particularly if they are planning to have children.
“I think we need to have a discussion about how we’re going to ensure that our property is available for people moving out and not just the ones coming in,” said Nick Lassiter, a local real estate developer.
“It’s really important that we don’t exclude people who are coming in to buy a property.”
Real Estate Agent: Renters can rent out an apartment for an affordable priceSource: Zillows