Zillow Sees More Furnished Rental Listings as Hosts Abandon Airbnb

June 4, 2020
Share this Post: 

American portal Zillow has reported a notable increase in the number of furnished and short term rental listings on its platform since the outbreak of the global pandemic in March. The number of furnished rental listings on Zillow increased 42% from the 1st of March to the 21st of May and listings for rentals of up to six months increased by 23% over the same period.

Usually, these types of listings fall around March in the US market but the rise this year points to Airbnb hosts looking elsewhere to find occupants for their properties as the vacation market struggles amid the ongoing global pandemic. This migration of short term vacation rentals to property portals is something that we had seen some anecdotal evidence of previously in other countries but with these new Zillow figures, there seems little doubt that property owners are cutting their losses and moving their inventory into the long term rental market.

In response to the trend, Airbnb started changing up its business model back in early April to allow for longer-term letting on its platform and a company spokesperson told CNBC this week that “There are more listings and hosts on Airbnb today than there were on January 1”. It will be interesting to see how the situation unfolds as it is not only external economic factors that have driven away Airbnb hosts over the past few months.

June 4, 2020
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zillow No Sale
Zillow Reneges on Pledge and Cancels 400 Offers Contracts

According to local press reports from Phoenix Arizona, Zillow's iBuying division is cancelling agreements to buy around 400 homes and...

Read More
Portal Products We Like Edited
7 Great 'Under the Radar' Property Portal Products

At OnlineMarketplaces we get sent a lot of press releases around new portal products and, if we're being honest, sometimes...

Read More
Rentpay Skyline
Rent.com.au Signs Agreement to Have Leading Rentals Agency Promote its End-To-End RentPay Product

Australian rental portal and end-to-end specialist Rent.com.au has announced that it has signed an agreement with prominent rental management agency...

Read More
Immoscout24 House Value
ImmoScout24 Extends Data Cooperation Agreement with Sprengnetter for More Accurate AVM Modelling

Leading German real estate portal company Scout24 has extended its data-sharing agreement with appraisals and market data specialist Sprengnetter to...

Read More

Popular News