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New research examines impact of 'homesharing' services like Airbnb
Local governments across the country are passing laws to limit short-term rentals like Airbnb, HomeAway and VRBO, with Washington, D.C., poised to put some of the strictest limits yet on these homesharing services. Kashef Majid, an assistant professor of marketing at the University of Mary Washington, has examined more than 12,000 rentals in the nation's capital over nearly a decade, identifying which properties are most in demand and earn the most revenue as well as the impact of price and location on demand. Majid also found that commercial operators -those that purchase properties solely to rent on short-term rental markets like Airbnb -limit the supply of affordable housing, create neighborhood tensions and negatively impact the number of rentals. "The issue of commercial operators became so contentious that the largest county in Virginia (by population) recently passed legislation to prevent their existence," Majid said. "Commercial operators are simply one example of the issues that arise within the sharing economy. Our research has also explored parallels in other markets, such as ride sharing." Majid is available to speak with media regarding these topics and this research. To contact him, simply click on his icon to arrange an interview.
