Airbnb is driving up rents. In Vienna by yourself, 2,000 residences are currently being wholly eradicated from the housing market place in buy to rent them out to vacationers. The town is now intervening and taking legal motion versus Airbnb residences in local community housing.

If you walk all over Schwedenplatz, Spittelberg or the Freihausviertel in Vienna, in just 500 meters you will go all around 100 residences that are no extended obtainable to the regular tenants thanks to Airbnb. This is 1 of the conclusions of the researchers at the Vienna College of Technologies.

The on the web lodging platform’s slogan goes “Dwelling like a Community”, but in truth, their residences for vacationers are pushing the neighborhood population out of their hives. Especially problematic is the point that the Viennese municipally-owned apartments are also progressively staying offered for subletting on Airbnb. Now residential setting up councilor Kathrin Gaal is getting legal motion in opposition to Airbnb.

11,000 Airbnb’s in Vienna

In 2016 there ended up currently in excess of 11,000 Airbnb residences in Vienna. Close to 2,000 apartments are rented so commonly that they are no longer available to normal tenants. This comes about specifically regularly in districts 1, 2, 4 and 7, the place the central location means that they can be sublet at a bigger charge. But also the locations outside the house the belt are successful. It is notably valuable for Airbnb companies in the 10th and 11th districts, which have rarely been utilized for this function so significantly. This is in which the big difference concerning frequent rental and Airbnb rental is the greatest. The price variance also makes the municipal housing specially intriguing, considering that the taxpayer subsidizes the income of Airbnb hosts.

Vienna’s Authority against Airbnb

But subletting the municipal housing is prohibited to reduce these types of rentals of residences for holidaymakers. This is now getting tackled by the housing counselor who requires that the platforms these types of as Airbnb and Booking.com delete all commercials placed at addresses of council housing.

“This variety of subletting of municipal housing is strictly prohibited by contract. Anyone who knowingly requires gain of a breach of deal by a third get together is personally liable less than the Federal Act towards Unfair Competitiveness,” states her letter.

In carrying out so, it also holds the system operators dependable and threatens to impose penalties if local community housing continues to be supplied there.

60.000 EURO by Airbnb … For each Thirty day period

In normal, this type of letting has formulated into a authentic business. In complete, all over 81 million euros for every calendar year are elevated through the platform in Vienna by itself. But the revenue is dispersed pretty unevenly. Two-thirds of the dollars goes to the prime 20% of the hosts. The top rated .4% receive at least € 13,500 per month individually.

The Airbnb prime earner on your own gets 60,000 euros for every month. This unequal distribution of revenue is also brought about by the reality that the system has moved significantly absent from its essential plan. From the original concept of CouchSurfing, a idea in which folks share their residing room with the visitors and set them on the couch – Airbnb is now miles away from that. Lots of hosts have quite a few flats and purchase or lease them only for this function.

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