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3 ways to turn Facebook into a steady source of buyer leads

Inmannews - Fri, 08/18/2017 - 1:30am
For many Facebook users, it’s not unusual to spend a significant portion of the day scrolling down the news feed or chatting on Messenger. In fact, according to The New York Times, the average user spends at least 50 minutes ...
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6 ideas to fuel your real estate prospecting efforts

Inmannews - Fri, 08/18/2017 - 1:00am
You’ve held open houses, sent direct mail newsletters and made the dreaded cold calls. You’ve handed out your business card so often it’s become a reflex. But you’re still not generating enough solid leads. Or maybe you are generating leads, but it feels unsustainable ...
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‘Everything has changed and nothing is different’: Watch Scott Stratten at ICSF

Inmannews - Thu, 08/17/2017 - 3:56pm
What does the Ritz-Carlton have to do with your real estate business? Maybe nothing -- yet. But if you're the type of Realtor who would overnight a child's lost stuffed giraffe, you might be on the right path.  ...
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From 6 to 80 agents in 18 months: Indie growth on steroids

Inmannews - Thu, 08/17/2017 - 2:27pm
What happens when a handful of top producers join forces to conquer the luxury real estate market? If you’re anything like the six driven agents who founded Seattle-based boutique brokerage Avenue Properties, what happens is $65 million sold in one week ...
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How to build a real estate brand from scratch in 9 months

Inmannews - Thu, 08/17/2017 - 2:24pm
It takes nine months from conception to birth to have a baby. If you had to build a business from the ground up in less than nine months, how would you do it? West + Main Homes is a brand-new brokerage in the Denver metro area -- broker-owner Stacie Perrault Staub decided in January to "take the next year to develop a brand totally from scratch." ...
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Opendoor’s ‘ultimate mortgage’ offers 1% off purchase

Inmannews - Thu, 08/17/2017 - 2:09pm
To compete on price with real estate agents, high-tech investors known as "iBuyers" will need to figure out ways to sell their homes very fast and for top dollar. Leading iBuyer Opendoor, which makes quick offers on homes and can close in days, has taken another step in this direction ...
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Realogy’s NRT appoints new SVP and CFO, Roger Favano

Inmannews - Thu, 08/17/2017 - 1:00pm
After several announcements earlier this year about movement in Realogy's executive suite, the real estate giant had been largely quiet about any hiring announcements. But clearly Realogy is still tweaking its all-star lineup ...
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$1M neighborhoods on the rise in coastal metros: Zillow

Inmannews - Thu, 08/17/2017 - 12:46pm
Since 2014, the U.S. has gained 346 new $1 million neighborhoods, which can be a good thing -- or a not-so-good thing, depending on how you look at it. According to Zillow, nearly one in 20 residential ZIP codes fall into this category because 10 percent of the homes in the area are worth $1 million or more ...
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Brokerage moneyball: Trusting data over your gut

Inmannews - Thu, 08/17/2017 - 11:59am
The real estate marketplace is changing, and quickly. What were once outstanding ideas may have outgrown their usefulness. But how do you know ...
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NAR CEO Bob Goldberg: Disrupters aren’t ‘the bogeyman’

Inmannews - Thu, 08/17/2017 - 11:00am
Realtors can be a fearful lot, seeing threats in new technologies and new business models that might change the way they do business. The National Association of Realtors (NAR) has in some ways encouraged this mindset, often disparaging companies such as real estate tech giant Zillow Group. But new NAR CEO Bob Goldberg, who is determined to paint himself as a change agent, is striking a more inclusive tone at the beginning of his tenure. In an interview with Inman, Goldberg said those thought of as "disrupters" should be invited into the "tent" of organized real estate in the hopes of turning them into Realtor advocates ...
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How Landlords Can Improve Their Tenants’ Credit

American Apartment Owners Association - Thu, 08/17/2017 - 10:30am

As a landlord, you know it’s important to have tenants who maintain good credit scores. What you may not know is that you can help your tenants improve their credit. Learn how it works and why this benefits you.

Why Good Credit Is Important for Landlords

A good credit score illustrates that a tenant has a track record of paying bills on time, does not carry a high level of debt on his or her credit cards, and has no unpleasant surprises (such as a default or bankruptcy).

If a renter doesn’t pay his or her bills on time, there’s a high risk that this irresponsible behavior will carry over to the rent. When he or she sends the rent late, you may not get the money you rely on for property maintenance and upkeep, mortgage payments or income. While the occasional late payment happens to even the best tenants, when this behavior is habitual, it can hamper your ability to effectively manage your property.

While a tenant credit check can help you avoid renting to someone with a poor credit score, there may be cases where your existing renters want your help building credit. For example, perhaps you have a renter who struggled with chronic illness and who has a poor credit score due to high medical bills. You know this tenant is reliable and responsible. This person always pays the rent on time, despite his or her struggles with medical debt. In a situation like this, you can help tenants like these improve their credit score and get back on their feet, financially speaking, by reporting on-time rent payments.

Tenants might also want your help building their credit if they are saving for a major expense, such as buying a new car or home. If there’s something you can do to help a great tenant who is planning for his or her next phase of life, why not do it?

How You Can Help Tenants Build Renters Credit

There are three credit bureaus in the U.S. that report individual credit scores: TransUnion, Equifax and Experian. Each of these agencies will report rental payments, but it’s up to you as the landlord to report the information. Rent reporting utilities make this easy.

To report timely rent payments (or conversely, to log late rent payments), sign up with one of these bureaus or use a reporting service that transmits rental payment information to credit bureaus every month. Since the information will show up on credit checks, it’s smart to let tenants know that you’ll be reporting their rent payment information, to avoid a surprise.

American Apartment Owners Association offers comprehensive information about rent reporting and tenant screening. If you’re interested in learning more, become an AAOA member today.

Disclaimer: The information provided herein is for advisory purposes only and AAOA takes no responsibility for its accuracy. AAOA recommends you consult with an attorney familiar with current federal, state and local laws.

The post How Landlords Can Improve Their Tenants’ Credit appeared first on AAOA.

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12 terrible habits of top producers that lower the bar

Inmannews - Thu, 08/17/2017 - 2:15am
In real estate sales, how many homes we sell and how much money we make is the only measure of success. What many people don’t know is that it's possible to be a jerk and make money too ...
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How to grab your ideal clients with Facebook’s target audiences

Inmannews - Thu, 08/17/2017 - 2:00am
There seems to be some misconceptions about what options advertisers (or agents) have for targeting their ideal audience on Facebook. Everyone seems to know about the basic targeting options: age, income, location, interests, behaviors, etc ...
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Which cities are best for flipping houses?

Inmannews - Thu, 08/17/2017 - 1:30am
Making money by flipping property has become as much of an American dream as homeownership. The full spectrum programming on HGTV is a testament to how much we want to believe that we can make money of flipping houses, in small towns, in cities -- anywhere there is a deal with good bones to be had. ...
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10 tips to get the home sold once and for all

Inmannews - Thu, 08/17/2017 - 1:15am
When you put a home on the market, the clock starts — and the pressure sets in. You only have one opportunity to make a first impression, and you don’t want the home to sit for endless days on market while your sellers get increasingly upset ...
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Real estate video marketing: 3 ways to generate leads with social media

Inmannews - Thu, 08/17/2017 - 1:00am
Real estate video marketing is possibly the most effective marketing method available to agents; it’s definitely one of the cheapest ...
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4 cities where growth is increasing rental demand and rents

American Apartment Owners Association - Wed, 08/16/2017 - 4:45pm

Rental growth has a lot to say about supply and demand in the rental apartment market. Over the past several years, we saw rents move up at above average levels nationwide. We are now seeing many markets losing some steam. They are catching their breath, allowing demand to catch up a bit with an impressive number of new deliveries.

But there are still at least a few markets that pop out. Fannie Mae’s Multifamily and Economics Research Group tracks the quarterly multifamily outlook in top metros.

Looking at recent trends, we found that asking rents continue to push forward in some areas – building slowly in some, faster in others. These markets illustrate the fundamentals that drive the multifamily market, including one very big factor: jobs. Each rental market is unique, with its own story to tell.

The Silicon Desert

In Phoenix, the sun has always been a big draw. But today – at least as it concerns the local economy and the multifamily industry – the draw is jobs. According to Moody’s Analytics, Phoenix can expect to enjoy some of the best job growth in the entire country this year. The city will add about 123,000 jobs in 2017 and 2018. That’s the local market’s ticket for keeping demand above the available supply of multifamily homes.

What’s even better, the well-paying high-tech sector is helping to put Phoenix on the map. It now accounts for about 5.5 percent of employment in the “Silicon Desert.” That’s well above the national average of 4.8 percent.

More jobs mean a growing population. Phoenix has a population of 4.7 million. It should increase 2.3 percent on average per year through 2020. That’s three times the national rate of 0.8 percent.

Phoenix also boasts a particularly favorable demographic profile for apartment rentals. Millennials make up about 21 percent of the population. This age cohort is growing in Phoenix at five times the national rate. Over the next five years, it will expand further. That bodes well for future demand for multifamily properties.

Rents grew at an estimated 4.5 percent in Phoenix last year. They were growing at an estimated 0.25 percent during the fourth quarter. This dramatic slowdown from earlier in the year was most likely due to seasonal factors. But the amount of new supply coming online was also a factor.

Over the coming 18 months, the projection is for an estimated 2.5 percent average growth in asking rents. That looks like a return to more normal times for rents.

A Mecca for Tourism

It’s all but impossible to ignore tourism in Orlando, FL. The city has recorded a record volume of tourists for five years straight. Last year, there were about 66 million visitors.

People are also coming to Orlando to stay. Last year, its population grew by 3.0 percent – significantly better than the national growth rate.

Many of Orlando’s new inhabitants were following the job market. The area added 50,000 jobs in 2016 – growing 4.5 percent. According to CoStar, expansion of the metro’s employment base will be well above average through 2021 – at 2.4 percent annually.

Orlando suffered from the Great Recession. But it has now clearly turned its back on hard economic times. About 8,000 multifamily rental units are underway. There should be sufficient demand to absorb the surge. Economic expansion and pent-up household formations are driving the demand for apartment rentals.

In the meantime, Orlando’s outlook for apartment rentals looks sound over the next several years. The area’s asking rents grew 0.25 percent in the fourth quarter of 2016.

Playing Catch Up

The Cincinnati metro continues to catch up from job losses during the recession. But its moderate job growth – along with limited amounts of new apartment supply – should restore apartment vacancies and rents to pre-recession levels.

As of December 2016, the job market was expanding by 1.6 percent annually, year over year. Companies are taking advantage of Cincinnati’s lower cost of doing business. It is 3 percent lower than the national rate. Moody’s Analytics reports that Amazon is constructing a $1.5 billion, 3-million-square-foot shipping center that will bring many logistic and service jobs to the area.

In the meantime, Cincinnati’s population was growing at a middling rate of 0.5 percent in last year’s fourth quarter.

Also, the metro’s older population is not an ideal demographic for rental units. According to CoStar, the city’s 55-or-older population has grown by more than 35 percent since 1998. About 13 percent of Cincinnati residents are in the prime 20-34 age cohort for apartments. That’s even less than the 13.5 percent nationally.

Dodge Pipeline reports that apartment construction is picking up. Some 3,100 units are underway. An additional 7,200 units are in the planning stages. Rents were up 0.25 percent in the final quarter of 2016.

Costly Single-Family Homes

Most households in Orange County, CA, can’t shoulder the local cost of homeownership. At the start of 2017, the median-priced single-family home in the area was $635,000. That works to the advantage of long-term demand for multifamily rentals.

The strength of the metro’s job growth is also a plus. Orange County’s job market stands out compared with the rest of the country and other parts of Southern California.

There have been more than 13,700 apartment unit completions in Orange County since 2012. Another 7,600 are underway. What’s in the pipeline probably won’t be enough to satisfy future demand.

Overall, Orange County should continue to be one of the better performing markets in the country. Vacancies there are tight, and rent-growth above average. Asking rents grew 1 percent in the fourth quarter of 2016.

 

Source: businessinsider.com

The post 4 cities where growth is increasing rental demand and rents appeared first on AAOA.

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4 Things to Know Before Investing in a Vacation Home

American Apartment Owners Association - Wed, 08/16/2017 - 4:43pm

Families with disposable income and a penchant for travel may be tempted to purchase a vacation home investment to use personally or to rent to other travelers.

A vacation home could save you money if you use it a lot, especially if hotel and lodging costs are high in a destination you frequent, says Connie Brazier, who has helped vacation homebuyers with loans for 20 years at Quontic Bank in Miami. The potential for value appreciation, rental income and tax benefits can be a nice bonus.

But the costs of owning a vacation home can be higher than a primary home with upkeep and insurance, and buyers could mistakenly buy in a tanking area if they don’t do their research. If the numbers and circumstances work, now may be the time to snatch up a vacation home investment.

“For the most part, vacation rentals have not been immune to the inventory crunch in the residential market,” says Emile L’Eplattenier, a real estate marketing and sales analyst for the website FitSmallBusiness.com. “Worse, real estate investing, particularly fix and flip and rentals, has seen a dramatic resurgence in the last few years. … Great deals in the vacation market might become scarcer in the next few years.”

But before you rush to buy in at your dream oasis, consider the following:

You need cash reserves and an accurate cash flow projection. Qualifying for a vacation home mortgage requires disposable cash and a solid knowledge of its rental potential, if you choose to rent it out. If mortgaging the property as an investment, you’ll qualify by using rental income. That interest rate would be higher than a primary home purchase, Brazier says.

Rental income should be calculated to include expenses such as homeowners’ association fees, mortgage payments, vacancy rates, maintenance and capital expenditures in mind, says Brian Davis, a real estate investor and educator with SparkRental.com.

Get several pro forma income estimates from vacation property managers to help you get an accurate picture of potential cash flow. But keep in mind property management fees also tend to be higher among vacation rentals than long-term rentals “because of the extra work involved in rapid turnovers,” he says.

Property taxes can also be up to twice as much without the homestead exemption offered on a primary residence, says Adrian Nazari, CEO of Credit Sesame, a free credit and loan management platform.

There are tax considerations, too: If the property is solely for personal use, all mortgage interest, real estate taxes, points and private mortgage insurance are tax deductible. If used as a rental even part of the time, there are several possible tax scenarios, says Noel Dalmacio, owner of Dalmacio Accountancy Corp. in Irvine, California.

The vacation home is tax-free income property if you rent it less than 14 days per year (you also cannot deduct rental business related expenses for those days). If you use vacation home for personal use less than 14 days or 10 percent of the time the home is rented, then all rental expenses are deductible.

And if using the property personally for more than 14 days or 10 percent of the number of days it is rented, your rental deductions are limited to the amount of your rental income but mortgage interest, taxes and insurance are still tax deductible on your tax return.

Think about seasonality. If keeping the property rented at a high occupancy rate is important to you, buy in a place that doesn’t depend on seasonality to rent. Don’t count on visiting too much in the high season, either: it will eat substantially into your income, says Melanie Narducci, a Realtor with the Real Estate Firm in Phoenix.

If you live far from the property, choose a manager wisely to help you get occupancy rates high and tenants happy.

“A great manager will make it a good investment and experience; a bad property manager will break you,” Narducci says. “Because this is brisk business there are plenty of property managers to choose from in this market.”

Purchase adequate insurance. You’ll want to make sure your vacation getaway is adequately protected, which means selecting limits for the policy that allow for completely replacing the home in the event of a catastrophic loss, says Pete Ducich, head of product development for Farmers Insurance.

“The investor also needs to consider purchasing personal liability coverage that addresses the ownership and rental of the property. For liability coverage, limits should be selected that protect all the investor’s assets and not just the rental property,” he says.

You’ll also want to see how the property’s location affects your insurance premiums, such as eroding beaches, hurricane damage, or crime. If the property is kept vacant there may be insurance coverage restrictions because the property is more likely to fall into disrepair, Ducich says.

Do your homework. Local knowledge is everything when considering the purchase of a vacation home, says Lance Marrs, broker at Living Room Realty in Portland, Oregon.

“If you’re purchasing a newly built vacation home, in addition to having it inspected during the inspection period of the sale, check references for the builder and their subcontractors to see if the builder typically builds in that area, specifically if it’s a coastal climate,” he says.

It also pays to think creatively when viewing homes in popular vacation destinations.

“If you’re looking at homes in coastal communities, remember that oceanfront homes not only command a premium, they are also subject to more foot traffic and noise,” Nazari says. “For your vacation getaway, you might feel more comfortable off the beaten path. Similarly, properties with commanding views fetch the highest prices – you’ll have to decide whether the view is worth the higher sticker price, or that you’d rather buy something less exclusive but still in the desired community. And don’t rule out fixer-uppers.”

Top Real Estate Investment Trusts Stock Name Dividend Yield 1 Year Return Life Storage Inc LSI 5.54 582.85% NorthStar Realty Europe Corp NRE 4.63 48.25% CoreSite Realty Corp COR 3.33 41.99% DuPont Fabros Technology Inc DFT 3.23 38.53% Cherry Hill Mortgage Investment CorpCHMI 10.07 37.75% Parkway Inc PKY 1.74 37.63% Jernigan Capital Inc JCAP 6.48 36.26% UMH Properties Inc UMH 4.45 34.58% Universal Health Realty Income Trust UHT 3.48 32.94% Altisource Residential Corporation RESI 4.61 32.51%

Stock information as of August 8th, 2017

Source: money.usnews.com

The post 4 Things to Know Before Investing in a Vacation Home appeared first on AAOA.

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Housing crisis could result in more tenant-landlord disputes

American Apartment Owners Association - Wed, 08/16/2017 - 4:39pm

Francesca Sutton was excited to move out of her apartment and into her first rental home. She didn’t expect the scorpions — or to be involved in an increasing number of tenant-landlord disputes.

“The first night that we moved in, my son noticed a scorpion in his bedroom, so he called me when I got off from work,” Sutton said. “Then the next day, I just started seeing them everyday, every other day. This is not comfortable for me. I can’t live in a place like this.”

After living in the house some time, Sutton began to notice other issues, like low water pressure.

Sutton said when she contacted her landlord to fix the problems with her house, the landlord never followed through.

Tenant-landlord disputes are likely to grow. The housing crisis has led to more people in the U.S. renting than at any other time in recent history, according to the Pew Research Center. A decade ago, 34.6 million households were in rental properties. In 2016, there were 43.3 million rental households.

The system in Arizona moves slowly and inefficiently whether you’re a landlord or a tenant, those on both sides say. The Arizona Residential Tenant and Landlord Act outlines basic regulations. Phoenix and Tempe are among cities with codes that set more detailed conditions landlords must meet, such as a clean property, regular pool maintenance and minimum water temperatures.

But no local or state government agency enforces those regulations. The lack of accountability and a labyrinthian set of regulations leaves tenants and landlords dangling and can end up in court, advocates said.

The Arizona Department of Housing, which created the 44-page document, considers landlord-tenant relations “a private matter,” according to its website.

Several other states, including Tennessee, allow renters to file complaints with the county public health department or a local building inspector.

Kathy Hertzog, president and chief executive of LandlordAssociation.org, said pursuing a civil case is not a good process for landlords or tenants.

“Having to hire an attorney and go to court, it’s an expensive and time consuming process,” Hertzog said. “It’s a delicate and fine line you have to walk along. Will it be worth your while or not?”

Ken Volt, who founded the nonprofit group Arizona Tenants Advocates, said most people lack the knowledge, time or money to take on their landlord.

“Most people think you’re going to complain about conditions and that’s it,” Volk said. “But in reality that not necessarily a part of how you would proceed. It’s not really a procedure for the squeamish.”

Some of the most vulnerable people are renters. Pew research shows the majority of people renting in the U.S. are younger than 35. Hispanics, African Americans and the least educated are most likely to rent.

Hertzog said bad landlords prey on people who are poor.

“In the really poor, underdeveloped areas there’s more bad landlords because they don’t want to put the money into” their properties, she said. Such landlords think people will not take care of their housing just because they are poor, so the landlords don’t take care of the property, she said.

“It’s kind of a sad perception,” Hertzog said. “Everyone has the right to decent housing.”

Advocacy groups like the Arizona Tenants Union and Volks’ organization, which he launched in 1993, advise tenants of their rights.

Volk said tenants are likely to lose in court.

“Landlords are the ones that hire attorneys and present themselves to court. Tenants don’t,” Volk said.

Instead of going to court, Volk helps people document their requests to landlords and legally break their lease. He said he has helped more than 6,000 renters break their leases.

Even when landlords violate leasing agreements, often tenants do not follow the proper procedures to notify landlords, Volk said.

Volk educates renters on methods to settle disputes. If breaking their lease becomes necessary, Ken walks them through the process: writing letters for tenants, helping them organize their documentation and informing renters if they are in the right or wrong.

Sometimes, renters are in the wrong. Hertzog, of the landlord group, said landlords can take a big hit to their wallet when faced with bad tenants.

“Being late on rent and damaging property are the biggest issues we see from renters,” Hertzog said.

Pat Dougherty, who runs rental properties in the Valley, is familiar with bad tenants.

“We went through a rental management (firm) and they were supposed to interview the potential tenants,” Dougherty said. “They ended up renting the place to three 18-year-olds who were just out of high school.”

Dougherty said the tenants trashed the house.

“The drywall was tore up,” Dougherty said. “The doors had holes in them. They left an abandoned vehicle in the yard.”

When the tenants stopped paying rent, the process to evict them was messy, he said.

“It takes awhile to get them evicted,” Dougherty said. “You can’t just kick them out on the street. You have to go through the courts, and it’s a slow process. They left us owing a few months rent.”

Dougherty said, as a landlord and a former tenant, he understands both perspectives.

“The landlords can get hurt just as much as the tenants can,” Dougherty said. “People generally view tenants as the victims, but that’s not always the case.”

Hertzog said small property owners like Dougherty get hurt by the court system, which favors large property management groups.

“Most of our clients are small mom-and-pop landlords,” Hertzog said. “They can’t afford to hire an attorney, either.”

Volk said that the expansion of property groups has hurt renters.

“They have expanded too fast and are stretched beyond their means,” Volk said of a landlord group immersed in repeated problems.

Angela Blanco, a spokeswoman for Phoenix’s landlord-tenant services, said there are steps both parties can take to avoid or resolve disputes.

“Many common complaints come from miscommunication on both parts,” Blanco said.

Phoenix’s Neighborhood Services Department will counsel landlord and tenants. City mediators let each party know their legal rights and responsibilities, so they can better decide how to solve a problem, Blanco said.

“The hope is by better educating landlords and tenants statewide, we won’t have as many issues escalating to the court level,” she said.

The department also hosts rental housing workshops four times a year.

Blanco emphasized the department doesn’t take complaints and remains neutral in disputes.

“Ultimately, because it is a civil law, if they cannot resolve it amongst themselves, then the next recourse would be taking legal action,” Blanco said.

Both parties make common mistakes.

Blanco said many people only communicate with their landlord verbally or by text, but that courts do not usually recognize those forms of communication.

Tenants and landlords are obligated to communicate in writing, sending the request by certified mail or hand delivering it, Blanco said.

“You need that proof to be able to move forward,” Blanco said.

Hertzog said landlords need to protect themselves by writing thorough leases, including minute details like who will pay for a lost garbage can.

“As far as disputes go, you are kind of stuck to what’s in that lease,” Hertzog said.

Hertzog said landlords also need to understand local laws and codes that apply to their property.

“The thing that landlords need to do is get a lease for their state and their community,” Hertzog said. “Two houses on the same block can have different regulations because of codes.”

A good place for landlords to go to learn about their rights and responsibilities are their local bar association and tenant advocate websites like Volk’s.

Tenants need to be responsible about signing leases and make sure they understand the lease, Blanco said.

Volk said when tenants understand their leases, they know when they have the legal right to break them.

Sutton, the tenant plagued with the scorpion problem, said Volk helped her feel confident she was legally in the right to break the lease. If the dispute goes to court, Sutton said she feels prepared.

“I have a good reason to break the lease,” said Sutton, whose landlord did not return phone calls and emails from Cronkite News. “I have pictures and documentation, so I’m just waiting to see what has happens next.”

Sutton said landlords can easily take advantage of renters, especially inexperienced ones.

“With this being my first house, I didn’t think to turn the shower on and little things like that,” Sutton said. She is living with her mother until the dispute is settled.

She learned some lessons from her rental experience.

“Now I know what questions to ask, what to look for,” Sutton said. “I do feel that it’s going to prepare me for whatever I do next, wherever I move.”

 

Source: azbigmedia.com

The post Housing crisis could result in more tenant-landlord disputes appeared first on AAOA.

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Meet Airbnb’s newest competitor: Google

American Apartment Owners Association - Wed, 08/16/2017 - 4:35pm

The single-family short-term rental market is expected to expand to a total $34 billion by the end of 2017, a market that, until this point, Airbnb is the dominate player.

But, maybe not for long.

Now, Google decided it wants in, according to an article by Riley McDermid for L.A. Biz. The tech giant is making listings viewable through its hotel search engine in some European cities. Vacationers can now add accommodation type when searching on Google and browse through homes and apartments.

From the article:

So far, Google has around 7,000 vacation rental listings in Paris, Barcelona, Naples, Seville, Berlin, Venice, Rome, Palermo, Bordeaux, Madrid, Cologne, Munich, Dresden, Milan, Frankfurt, Nice, Lisbon, Nuremberg, Reims and Porto.

Google is currently allowing guests to then use Priceline’s Booking.com platform to book the stays.

However, while the feature is only currently available in Europe, Google explained this is only a small-scale experiment, and said it hopes to soon increase its inventory, inventory type and partners, according to the article.

The current discussion surrounding Airbnb and its possible disruption of the of the housing market doesn’t look to subside anytime soon. In fact, as new players enter the single-family short-term rental space and the market continues to grow, investors could continue to flood in to capitalize on the trend and take up much-needed housing inventory.

 

Source: housingwire.com

The post Meet Airbnb’s newest competitor: Google appeared first on AAOA.

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