October 13, 2016
Airbnb Inc. made a large slice of its money in the Boston area from properties that were rented for six months or longer in the past year, dwarfing the earnings of small-time casual hosts who are the face of the $30 billion online rental service’s lobbying campaign in Massachusetts, data released by the company show. Data provided to the Globe show that just over 10 percent of Airbnb rentals in Boston, Cambridge, and Somerville were occupied by renters for a total of six months or more over a 12-month period through August, but generated 37 percent of revenue paid to Airbnb hosts in that period. Still, some local lawmakers have raised concerns that Airbnb and similar services are helping property owners remove permanent housing from an already tight market and disrupting residential neighborhoods. “When units are being used as virtual hotels, it hurts the housing stock,” said Aaron Michlewitz, a state representative from Boston who has proposed new regulations. “It’s not the only reason, but it’s certainly one of the spokes on the wheel of the housing crisis we have here.”…
Source: https://www.bostonglobe.com/business/2016/10/13/airbnb-rentals-trigger-debate-over-housing-stock/xhFHhDtkUMGblnPhxNQsFM/story.html
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