Short-Term Rental Stays Are Getting Longer

Yesterday we wrote about Airbnb’s sweet deals with developers in Florida – where the company is partnering with developers to allow apartment tenants to rent out their units for up to 75 days per year. Airbnb would handle pricing, security, access for guests, and cleaning.

Let’s get into why this could be happening: the company could be bracing for a supply shortfall, or owner churn away from short-term rentals to longer-term rentals. 

Broadly, there are two reasons why. First is the after-effect of regulations that might take listings off the market. Take New York City: As of July 2023, it had about 23,000 "active listings," according to data from AirDNA. That's a big drop from July 2019 when there were 36,000 active listings. They'll likely drop more after the city begins enforcing its host registration law on September 5. We've reported that 16,000 of those listings could initially be at risk.

The second reason is demand-supp