It seems like prices for short-term rentals have double or tripled over the last decade on rental sites like craigslist and airbnb. So, here are some questions that have been on my mind... Do you think this is ruining or will ruin the short-term renting market? Have you ever decided not to rent a short-term rental because of the high price? What do you think is driving up the prices? Should they be rising so much?
I don't think high rental prices are ruining short-term renting market...am thinking...before high prices are put up...the people renting out the properties take into certain factors that attribute the high rise in price...for instance the market value in regard to properties might have gone up and so these people have to move with the current times and put to mind their profits and commissions in regard to the same...i tend to believe that even in short-term renting market prices might shoot up as well...just my two cents here.
In my area, the prices are jacked up compared to what you would expect a mortgage to go for, but everyone's financial situation is different and a short-term rental may seem like an attractive option.
Are we talking about high rental prices like in terms of apartments? I would have to assume its what got affected in the market. I just don't have the cash right now to pay $800-$1600 a month for anyone's rent. This just shows you that even if you would like to find a place to stay you have to understand what goes on in the market.
I really can't tell how people can find a place to live with these not only high rental prices, but also access to credit to buy places, middle class is being destroyed.
Today i visited a friend and she and her husband want to shift from point A to point B...but the cost of rent has really sky-rocketed, so now they are weighing out their options...whether you want to rent long-term or short-term....the prices are sky high...blame the economic markets.
There are organisations, like a certain one in my country that governs the real estate market and more specifically the amount of rent a landlord may charge a tenant, if there are any such organisations in your country, you should report any sign of illegal high rental costs. However, real estate is a very unique market, so the cost of real estate can be very expensive. There can legitimately be high rental cost, and I do not believe that this damages the market, it actually helps.
