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February 4, 2021

Short-Term Rentals Amplify Housing Shortage

Short-Term Rentals Amplify Housing Shortages

According to a new research conducted by the University of Cologne, short-term rentals, such as Airbnb, are causing housing shortages and rent increases. The study, conducted by Felix Mindl and Dr Oliver Arentz, investigated the impact of short-term rentals on the Cologne housing market, with findings that come as a

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BDC 318 : Jul 2024

February 4, 2021

Short-Term Rentals Amplify Housing Shortage

Short-Term Rentals Amplify Housing Shortages

According to a new research conducted by the University of Cologne, short-term rentals, such as Airbnb, are causing housing shortages and rent increases. The study, conducted by Felix Mindl and Dr Oliver Arentz, investigated the impact of short-term rentals on the Cologne housing market, with findings that come as a stark warning to other urban areas. The research found that pressure on the housing market has been steadily increasing over the past 10 years, with the number of short-term rental accommodations in Cologne increasing from 500 to nearly 6,200 in the last five years alone. Of these accommodations, 41 percent are rated as professional of which 65 percent are owned by hosts with multiple accommodations. The average income from short-term rentals exceeds that of long-term rentals after only 90 booked days. “While a large proportion of hosts can be considered home sharers, we find an increasing proportion of providers who have developed a professional business model from short-term rentals. Professional short-term rentals are available to tourists throughout the year and thus compete directly with long-term tenants, for whom the rooms are then no longer available,” commented Felix Mindl. The research also found that 14.2 percent of overall rent increases within the study period can be attributed to short-term rentals – this results in a rent increase of around 320 Euros per year for new tenants. The authors suggest that a registration process for the hosts could make an important contribution to improving transparency of the market structure.

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A new Business Development Manager for London based Property Management firm Crabtree

Crabtree is delighted to announce Crabtree’s Business Development Manager – Kieran Clarke Kieran has been in the property industry for over 8 years and is AIRPM qualified. During his career he has gained experience in block, estate, facilities, and AST management, as well as investment both in the UK and overseas. Kieran started his career in property in 2013 as a property manager for Atlantis Estates. He was promoted to Regional Manager and then to Sales/Relationship Director looking after all current clients and obtaining new business and working with developers. In 2017 Kieran moved to Spain and co-started a property sales, lettings and property management company. Initially focussing on Spain, he then branched out to sales and developments in the USA and a development attached to a hotel in Costa Rica. He was also involved in hotel investment/sales in Morocco and Mauritius. Kieran moved back to the UK in 2019 and assisted in the setup of all company/HR/HSE and facilities management for a portfolio of pub/restaurants. In late 2020 he joined Leaders as Head of Property Management, looking after a team in Cambridge. With Kieran on board, and with his diverse range of experience we see future growth for the business within the London block management sector. Crabtree is an established Managing agent with over 35 years serving the property industry.

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