More and more real estate investors are now insisting on a no- AirBnB policy.
That’s according to two industry players, who were speaking at a Sygnus Business Breakfast yesterday.
Investors are reportedly raising concerns about security and other things, when their neighbours rent properties via AirBnB.
As the AirBnB sector in Jamaica continues to expand, more and more real estate investors are shunning the popular bed and breakfast rentals.
According to AirBnB’s Head of Global Policy and Public Affairs, Chris Lehane, Jamaica’s earnings from AirBnB surpassed one- billion dollars in 2017.
It’s had a tremendous impact on the local real estate market, with some investors buying houses and apartments primarily to rent via AirBnB.
But veteran real estate entrepreneur and developer, Peter Rousseau, says he’s now taken a no AirBnB policy on one of his properties.
Real estate broker for RE/MAX Elite, Anya Levy, says many of her clients are now insisting that AirBnB not be allowed in the complexes where they’re seeking to invest.
Rousseau says although some people are earning good income from AirBnB, it’s disruptive for others.