NYC Airbnb New Regulations, Will BA follow?

[sts7049]

one day you will realize there is nothing problematic about using airbnb. you have zero to feel guilty about

 

[earlyretirement]

one day you will realize there is nothing problematic about using airbnb. you have zero to feel guilty about

Amen brother. Even by the OP's posts he says he uses them all the time. I stay in hotels quite a bit but when I travel with my family I always stay in Airbnb's. They have made traveling so effortless. And by and large they aren't owned by super wealthy people. Just everyday locals so you're helping out the economy.

In most places I own properties and list Airbnb's that country's government charges the same taxes and fees that hotels charge. Argentina is one of the only places where they still don't charge any taxes. But that's one thing they should do right away no matter who becomes President. There are many simple fixes that can be implemented that will bring in a ton of tax revenue.

They can incentivize locals who register their DNI and are renting to maybe avoid paying these fees. That way they aren't feeling the brunt of that tax increase and the owner has an incentive to rent to a local vs. a tourist. There has to be creative solutions like this in an economy like Buenos Aires.

 

[FrankPintor]

Amen brother. Even by the OP's posts he says he uses them all the time. I stay in hotels quite a bit but when I travel with my family I always stay in Airbnb's. They have made traveling so effortless. And by and large they aren't owned by super wealthy people. Just everyday locals so you're helping out the economy.

Our experiences with Airbnb seem to be very different, I would say 90% of my dealings with Airbnb hosts over the past 5 years have been with property managers. And where they're not property managers they're investment properties (e.g. the very nice apartment we stayed in in Encarnacion in Paraguay owned by an Argentinian). The "sharing economy" is a feel-good myth fostered by Airbnb, if it was ever true, it certainly isn't now.

 

[earlyretirement]

Our experiences with Airbnb seem to be very different, I would say 90% of my dealings with Airbnb hosts over the past 5 years have been with property managers. And where they're not property managers they're investment properties (e.g. the very nice apartment we stayed in in Encarnacion in Paraguay owned by an Argentinian). The "sharing economy" is a feel-good myth fostered by Airbnb, if it was ever true, it certainly isn't now.

Sure, many owners have property managers. I mean, most people that own properties have full time jobs and this takes up a lot of time. I just manage mine myself but out of the tens of thousands of Airbnb's in Buenos Aires, how many do you think are owned by locals? Almost all of them but they aren't doing the check-in themselves. They have a manager or person that does this and they get paid a % of the rentals. Most of the foreigners sold their properties at the high. (Or at least most of them that I know did already). Now they are actually looking to get back in with prices low and things could go a bit lower until elections and after elections.

But it's individual owners that own these units. It's not like the USA where REIT's are buying up a lot of real estate. In South America it's mostly owned by locals. Your money is going into their pockets. One thing my local friends all have in common that didn't get forced into moving to Spain or Portugul is that they all own at least an apartment that they are earning US dollars. That totally saved them!

So don't feel bad about renting an Airbnb in Buenos Aires or anywhere else in much of Latin America. You're doing your part to help the economy.

And the others that didn't were ones that were lucky enough to buy an apartment so they don't have to worry about paying rent to an owner or getting socked with 100%+ raise in their rent. HOA Fees are cheaper than ever in US dollar terms for these owners.

 

[FrankPintor]

I hoped to be thoughtful but I didn’t expect it to be articulate. It was a drunken vent, written from a corner of Andalusia, to distract from a slow-motion relationship breakdown

Despite that I use airbnb to facilitate my lifestyle, I recognise that it is extremely problematic. I hate that I add to the problem for those being continually priced out of their economy

It was a very interesting drunken vent. It's too early to worry, though. You still have your most productive years in front of you, you can make many more mistakes, with relationships (they tend to be more expensive), and without. You can get on the property ladder in your 40s and 50s, if you have say 5 or more stable earning years.

Having made many mistakes, and having a lifestyle that took me from country to country, which is great for experiences, less good for a savings account, that's exactly what I did and am still doing. It's more difficult, not necessarily because of the mistakes, but because banks don't really want to talk to you about mortgages unless you have a steady job.

Quite possibly, for your property investments, you'll need to buy cheap in unstable places (you can buy building land close ot Buenos Aires for $30k, or beachfront apartments in Margarita for the same, or less) and wait for stability to come and for the market to improve. Property prices in most of western Europe are out of reach for someone saving from their job.

 

[earlyretirement]

It was a very interesting drunken vent. It's too early to worry, though. You still have your most productive years in front of you, you can make many more mistakes, with relationships (they tend to be more expensive), and without. You can get on the property ladder in your 40s and 50s, if you have say 5 or more stable earning years.

Having made many mistakes, and having a lifestyle that took me from country to country, which is great for experiences, less good for a savings account, that's exactly what I did and am still doing. It's more difficult, not necessarily because of the mistakes, but because banks don't really want to talk to you about mortgages unless you have a steady job.

Quite possibly, for your property investments, you'll need to buy cheap in unstable places (you can buy building land close ot Buenos Aires for $30k, or beachfront apartments in Margarita for the same, or less) and wait for stability to come and for the market to improve. Property prices in most of western Europe are out of reach for someone saving from their job.

You won't get a mortgage in most of Latin America anyway. It's all cash for the most part. But real estate is a fraction of the cost of the USA. I just put an offer on a place in Buenos Aires today in Palermo. $150,000 for a one bedroom penthouse in a great area. That same apartment here in California would be $500,000+.

Buenos Aires is on sale. It will probably get a bit cheaper in the next year but some of these developers are paying up to $500 US dollars a rent "rent" until the properties are done if you pay cash upfront. That's the deal I negotiated today with a well known developer. But some of these places from reputable developers are as little as $35,000 US down and payments for a year until they finish. If you can't scape that much together then I guess nothing else matters but you can always get a loan from a relative or something.

 

[earlyretirement]

Units like this for $160,000 US dollars is pretty good.

 

[gatoneko]

By the way, do AirBnb pay Argentine hosts with the official rate?

 

[earlyretirement]

By the way, do AirBnb pay Argentine hosts with the official rate?

I'm not sure about the local hosts with Argentine accounts. All my locals friends that have properties have an account in the USA or Uruguay (they are Argentines) and it's in US dollars so they get paid in US dollars. I have some Airbnb's but it's all in US dollars.

That's a good question about locals. I can't imagine they are only getting white pesos.

 

[Ceviche]

I'm not sure about the local hosts with Argentine accounts. All my locals friends that have properties have an account in the USA or Uruguay (they are Argentines) and it's in US dollars so they get paid in US dollars. I have some Airbnb's but it's all in US dollars.

That's a good question about locals. I can't imagine they are only getting white pesos.

does airbnb deduct any taxes??