Of the modern websites that help us discover the world, Airbnb is hard to beat for convenience. There will be few reading this who haven't at some point experienced the platform, almost certainly as a renter but also very possibly as a host. The application is designed around ease of use and is supposed to be a win-win for both parties.
Whilst we are trained to look on these multinational companies with suspicion, the practicality of Airbnb is difficult to deny. The fee that it charges to effectively act as a broker between tenant and property owner is relatively low and prices easily compete with established B&Bs and hotels.
Moreover, the customer service really is fantastic – after a last-minute cancellation I was immediately contacted by the team who arranged an alternative stay with a "superhost", saving me from roughing it in the outskirts of Bilbao. The experience for users is assuringly good and Airbnb makes a point to highlight the added value for people who might have a spare room or some short-term living space.
Within the EU, over 1 million hosts make use of the service. The company calculated in 2021 that the average host generated €3,000 each year – hopefully with some positive reviews to boot. Last year Belgium counted 5.8 million night reservations via online platforms – Airbnb taking the lion's share.
Notwithstanding the utility of the app, criticism is more audible when we look beyond the pool of users to how it affects rental markets more broadly. The issue is particularly pronounced in major cities where demand for rental accommodation is already high. Whilst Airbnb promotes itself as a facilitator for short-term stays, its platform is open to misuse that can have repercussions beyond the business of tourism.
Those searching for longer-term rental accommodation are one victim of the website's success, with local rental prices swelled by the increased competition from holiday lets, or indirectly by a reduction in available rental properties as landlords instead maximise revenue on the site. In the worst of cases, this has seen entire properties taken over to be let on the site – a lucrative industry that goes against Airbnb's founding principles.
The solution (if it can be called that) in Brussels has been to bring in emergency measures to regulate tourist accommodation, imposing stricter checks on property owners that should ensure the practice doesn't come to the detriment of others who want to live in the capital.
But without being able to quantify exactly how much Airbnb inflates the rental market, it is hard to say whether the new regulations will make renting more accessible to those struggling most. Is this a strong stance against a tech giant or has Brussels got Airbnb all wrong?
Let @Orlando_tbt know.
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