In Madison County, Airbnb rentals considered complementary for real estate values ​​| Company

ANDERSON — A study recently published in Forbes magazine found that in hundreds of cities that continue to face housing shortages, an overabundance of Airbnb listings may be contributing to declining property values ​​in certain areas.

According to multiple accounts, this does not happen in Madison County. Informal estimates suggest that while the county is home to dozens of Airbnb rentals — from single rooms to entire homes — their presence boosts local home values ​​rather than lowering them.

“I don’t think it would be such a bad thing to be next to an Airbnb because you know the landlord is going to want to track those things on a home that help make a neighborhood desirable,” Amanda Malone said. , an FC Tucker/Thompson agent in Anderson. “They want to get as much money as possible for this house.”

Rather than contributing to a perception of neighborhoods saturated with tourists seeking an off-the-beaten-path getaway, several Airbnb units in Anderson are located on quiet streets, blending into surrounding homes and only noticeable by the labeling of dedicated parking spaces.

“These (property) values, especially on the west side where we’ve mostly invested, I would tell you that Airbnbs drives the value up because the quality of the people there is not a barrier,” Jim said. Grueser.

He moved from California to Anderson about six years ago and has since opened five Airbnb units in neighborhoods around the city.

“It’s good for the neighborhood,” Grueser said. “The people who stay there are very respectful, they have a quiet time they have to adhere to, there are no parties and the properties are kept in pristine condition.”

Grueser noted that other factors, including occupancy rates in the 40% range — as opposed to big cities like Indianapolis, where those rates are in the upper 60s — also contribute to the perception that Airbnbs can actually accentuate the positive aspects of a neighborhood.

“Anderson is not a vacation spot in Mecca,” Grueser said. “For the most part, everyone comes here for some family-related reason. We have traveling nurses, we have a lot of teachers, people who come here just to get away.

“The quality of tenant that we obtain is not people on vacation. They come here in order to be in the greater area.

Exacerbated by the pandemic, nationwide Airbnb bookings have been declining for nearly four years, according to data from Pitchbook, a private capital markets research and technology firm.

Yet with more than 7 million active listings in around 100,000 cities around the world, the online booking giant remains a force in attracting visitors from outside the region – and so, according to local tourism officials, it will continue to be part of marketing strategies. well in the future.

“I think we’re a bit behind on (lodging) inventory, so there’s a sense of welcome that we’re seeing with Airbnbs locally,” said County Visitors Bureau executive director Mark Thacker. by Anderson Madison.

“We already know there are more hotels planned for the county, but there is always a need for overnight stays, whether these come from Airbnbs or hotels. There is room for growth, but I think we are in a good position right now.

Follow Andy Knight on Twitter @Andrew_J_Knight, or call 765-640-4809.

Comments are closed.