As someone currently going through Airbnb hell, I’m really annoyed because on one hand a short term rental market is so necessary for so many people. On the other hand I despise Airbnb for enabling the following scenario: I rent an Airbnb in the Toronto suburbs, there is WiFi advertised, as a remote dev my livelihood depended on it. I get to the place, WiFi didn’t work, and there was zero bedding on my bed. I contact the host and he tells me he doesn’t speak English well (Chinese) but that I can just try fooling with the router. I do so. Another guest then proceeds to blame me for the broken WiFi and threatens my life (I literally have a picture of a note left addressing me on the router). I then call Airbnb saying I don’t feel safe. Airbnb legitimately sides with the host to my total shock. I sit there thinking what the hell and just eat the loss and rent the next place.
Airbnb is so supply constricted that it virtually always sides with the host. Compare that to NYC housing laws which are some of the most tenant friendly I could’ve written myself. So Airbnb screws individuals through various policies degrading consumer protection.
The world decided zero interest rates were good, so Chinese investors like the aforementioned buy places outright with minimal capital down and rent them out to local Canadians at a premium, driving rent and prices up. The result is that domestic markets have been brutalized and the rich have won in the zero rate economy, especially on housing.
I’ve had 8 Airbnb experiences and 4 turned out awful, the other four were fantastic. I used to think the company was amazing for building this new market now I’m completely jaded and feel bad for hoping this company rots