No area of economy has remained untouched by the rapid advancements in technology in the last few years. Real estate is no exception. There have been many new trends emerging in the world of real estate because of evolution and addition of path breaking technologies. One such trend is the manner in which new investors have been lured by the prospect of short term rentals by the use of AirBnB.
There is no denying the fact that investors went for rental income properties even before the emergence and now near domination of Air BnB. But now, there is a glut of investors evincing interest in real estate investment as they find how attractive it is to rent out their property for short term using Air BnB. Another portal like Air BnB is VRBO that is encouraging individuals to invest in rental properties.
Of course the real motive of new investors attracted to short term rentals is heavy profit through use of technology. But it is certainly giving a new fillip to the real estate industry with a new breed of investors coming up the ranks. It is not just the Millennials but also seasoned pros who are getting attracted to apps like Air BnB and VRBO. And who can blame these people when they are getting returns on investment that are much higher than what they get through traditional rental income properties? Why should one give his apartment on rent to a tenant when he can get a higher amount by simply renting out the apartment to different people using Air BnB app?
Millennials are the ones who are shaping the new trends in real estate industry. They are also the ones who are mor eincliened to use of new and emerging technologies. It is no surprise then to see that the landlords of a vast majority of accommodation units on Air BnB in a given place are young men, women, and couples. These individuals and couples see Air BnB as a very good way of earning a very attractive stream of income from their investment properties.
Even Millennials struggling to repay their student loans are enthused by the prospect of income they can hope to earn by use of technology driven Air BnB. There are many examples where these young men and women are successfully using technology to pay back their dues and also earning decent income from real estate investments