Action has been urged to tackle homeowners who let out properties short-term without planning permission, as the scale of rentals available on Airbnb dwarf the number of advertised homes on Daft to let nationwide.
There are currently 14 times as many short-term lets available on Airbnb as there are rental properties on Daft.ie, with Sinn Féin calling for the Government to take action.
An analysis carried out by the Irish Examiner using data from Daft.ie and Inside Airbnb found that, across the country, there were just 1,299 properties available to let on Daft on Monday, compared to 18,086 short-term lets on Airbnb. Not all homes available for rent are advertised on Daft.
The lack of rental homes is particularly acute in Cork, with just 71 properties available to rent across the entire county, compared to 1,662 Airbnbs.
In Dublin, there are currently 4,611 Airbnbs across the county compared to 745 rental properties on Daft.ie.
All these figures exclude Airbnb postings that consist of single rooms in occupied houses.
A spokesperson for housing advice charity Threshold was critical of the high number of Airbnbs, saying that it was “hindering the supply of appropriate homes for renters”.
The Government has previously attempted to regulate the provision of short-term lets across the country, introducing requirements for homeowners to apply for planning permission to rent properties on Airbnb.
These restrictions only apply to homeowners in rent pressure zones who let out the entire home — whether it is their principal residence or second property — for short term lets of more than 90 days.
However, Cork City Council has received just seven planning applications from property owners for a change of use to short-term lets.
Local authorities are permitted to take legal action against homeowners who do not obey the regulations. However, Cork City Council has previously said it has not taken actions due to “successful engagement with property owners”.
Sinn Féin’s housing spokesman, Eoin Ó Broin, said that these rules created a “grey area”, with letting platforms continuing to profit despite planning permissions not being sought by homeowners.
“This has been a ‘grey area’ since 2020 as most properties do not have planning permission and Airbnb is profiting on this law-breaking and the Government are sitting on their hands,” he said.
Mr Ó Broin has called for the Government to introduce punitive measures against letting platforms such as Airbnb and Booking.com to tackle the issue.
In particular, the Dublin Mid-West TD is calling for fines to be levelled against platforms if they host ads from property owners who do not have planning permission for short-term rentals.
“I don’t think we should let the platforms off the hook,” he said. “The idea that platforms are profiting off properties without planning permission is unacceptable.”
Mr Ó Broin said platforms should face daily spot fines, which should be valued above the level that the property owner rents out the property per night. He said that this would make it unprofitable for companies to keep hosts without planning permission on the platform.
In response, a spokesperson for Airbnb said: “We remind hosts, wherever they are, to check and follow the rules before they list their space and throughout the year.
“The majority of hosts on Airbnb in Ireland are everyday families who share their primary home and rent their space for just three nights a month on average.”
Data from Inside Airbnb shows there are 18,086 full homes or apartments and 9,036 private rooms listed for rent on Airbnb Ireland, with a total of 27,439 separate listings.
The Government is seeking to further regulate short-term lets through a proposed register, to be overseen by Fáilte Ireland. However, following Cabinet approval last year, the European Commission ruled that the proposal was too strict leaving it at a standstill.
The Department of Tourism is currently liaising with the European Commission over the proposal. It is estimated that the new regulations will be in place in 2024.
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Calls for action as data shows short-term lets outnumber homes to rent by 14 to 1. Action has been urged to tackle homeowners who let out properties short-term without planning permission, as the scale of rentals available on Airbnb dwarf the number of advertised homes on Daft to let nationwide.
How is Airbnb killing the housing market? ›
In fact, many of those who rent out property through Airbnb own and rent out more than one property. Data shows that “about one-quarter of the hosts on the Airbnb platform own nearly two-thirds of the listings.” Such data enumerates how Airbnb contributes to the lack of availability of housing for others to purchase.
How many short-term rentals are there in the US? ›
The U.S. short-term rental market reached $64 billion in 2023, demonstrating significant growth and a traveler preference for unique experiences. Over 2.4 million vacation rental listings and 785,000 hosts in 2023 highlight the industry's diversity.
How does Airbnb affect housing prices? ›
Researchers found that in local neighborhoods with a lower share of owner-occupancy, Airbnb had a higher impact on rising housing prices and rents. In areas with a higher share of owner-occupancy, Airbnb had somewhat less of an impact on property prices and rents.
How many short-term lets are there in England? ›
Lighthouse reported that there were around 451,000 available short-term rental properties on these platforms in February 2024 in Great Britain, an increase of 31% on February 2019. 9 Of these properties, around 370,000 were in England.
Is Airbnb collapsing? ›
Despite the claims of a significant decrease in Airbnb's revenue per active listing, the overall revenue of Airbnb has actually increased by 70% over the last three years. This suggests that the short-term rental market is not collapsing, but rather adjusting to supply and demand dynamics.
Why is Airbnb failing? ›
The flood of new hosts has meant fewer can earn good money. “Now, the markets are completely oversaturated,” says Melody Wright, founder of mortgage strategy and technology company Huringa. Meanwhile, excess supply hasn't led to lower prices, and anecdotes about bad Airbnb experiences keep pouring in.
Is short-term rental still profitable? ›
Yes, short-term rentals can be more profitable than traditional long-term rentals. Higher rental income, flexibility with rates, and tax benefits are major pluses. But, there are costs and challenges: higher maintenance, seasonal vacancies, and regulatory hurdles.
Where are the most renters in the US? ›
The place home to the most tenured renters is New York City. The Big Apple has 5,188 long-term renters per 100,000. San Francisco ranks #2, followed by Los Angeles, Boston, and Washington D.C.
What is the largest home rental company in the US? ›
Greystar sits at #1 with Asset Living and Lincoln Property Co. coming in second and third, respectively. The portfolios of most companies in the top 10 experienced a 5% to 6% increase YoY , with RPM Living being an outlier that experienced a large 32%+ growth.
AirBnB units don't pay those taxes, which are much higher per unit than property taxes. They tend to take rental properties off the market. An AirBnB can easily take in as much money in a week as a rental of the same type takes in in a month. That drives up prices for scarce residential properties.
Is Airbnb cheaper than hotels? ›
Is Airbnb Cheaper Than Hotels? Depending on the type of Airbnb apartment and the hotel, Airbnb can be cheaper than hotels but can also be more expensive. In general, Airbnb is cheaper than hotels because Airbnb does not have to pay for the overhead costs of a hotel or the general management of such a large operation.
What adds the most value to an Airbnb? ›
TIP: Small low cost things like complimentary fresh fruits, local map, bicycle to go around can be added to improve the overall value.
How many homes are short term rentals in the US? ›
However, in 2021, it was estimated that there were approximately 1.3 million vacation rental homes in the US, with 1,985,280 professionally managed short-term rental properties across the country. By 2022, the number of vacation rental listings in America had increased to around 1.5 million.
How long have short term rentals been around? ›
By the 1950s, renting a vacation home was a customary tradition for many, with advertisem*nts and listings for short vacation rentals beginning to appear in newspapers.
What is the minimum rent term in England? ›
How long do you want the tenancy for? The landlord must allow you to stay in the property for a minimum of 6 months. Most landlords offer tenancies for a fixed term of 6 or 12 months. However, it is possible to negotiate a longer tenancy, or you could agree to a tenancy which rolls over on a weekly or monthly basis.
How is Airbnb destroying communities? ›
Airbnbs limit the number of rental units available to locals. Airbnb hosts snapping up property as soon as it hits the market diminishes the housing supply available to everyday families. Renters have been hit especially hard as rental costs have soared.
Why is Airbnb losing popularity? ›
Regulatory concerns are one of the biggest existential threats to Airbnb and similar platforms. Local legislators in some popular vacation areas have already passed laws limiting the use of short-term rentals, making Airbnb virtually unfeasible in those places.
How did Airbnb disrupt the market? ›
Consumers were dependent on existing or established businesses in the market to provide opportunities for low-value consumers. Airbnb has shifted this model. Consumers have become selling agents. Consumers themselves now have the agency to provide a service with reasonable price margins for the low-value consumer.
