–1 in 3 owners give up short-term rentals (© Lionel Bonaventure – AFP)–
A PAP study shows that, among the owners surveyed who rented their property to tourists so far, 9% of them have stopped seasonal rentals since the start of the health crisis. And 24% are sure to give it up in the near future as well. Airbnb is responding.
(BFM Immo) – Airbnb type rentals are no longer on the rise. A PAP study * published on Tuesday shows that one in three owners who do vacation rentals in large cities are turning away, or are in the process of doing so, from rentals for short tourist stays. Thus, among the private landlords surveyed who have rented a property for short stays in a large urban area over the past six months, 9% have stopped due to the effects of the health crisis and 24% claim to be certain of doing so “in the near future “.
In addition, 21% of those polled ask themselves the question given the duration of the health crisis and 9% are undecided. Thus, only 37% of owners surveyed are determined to continue seasonal rental via platforms such as Airbnb or Abritel.
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Parisian property owners more affected by the crisis
The study shows a clear difference in the responses if the property is located in Ile-de-France or in the provinces. PAP notes that in the first case, 12% of owners have already withdrawn their property from the platforms against 6% in the second case. And 26% are certain to stop in the near future in the Paris region, against 21% in other agglomerations. Likewise, 25% are wondering about stopping soon in Ile-de-France against 19% for the province. “On the other hand, there are also differences among those who, for the moment, plan to continue renting in this way: 29% say they want to continue for the Parisian agglomeration against 45% for other French agglomerations”, notes PAP.
A difference between Ile-de-France and a province which can be explained by the fact that Paris is more affected by the drop in reservations which were fueled by both international tourism and business tourism. This is also explained by the fact that “Paris does not benefit from the postponement of stays by French customers, as may have been the case during the summer of 2020, in other French agglomerations, in particular Nice, Toulon, Marseille, Montpellier, Bordeaux but also Toulouse or Strasbourg “, judges the site of classifieds between individuals.
A lack of reservations
If the lack of reservations is cited in 64% of cases by those who have stopped doing this kind of short-term rental, will do so soon or are wondering whether or not to continue this activity, it is not the only one. reason. “The health crisis is added to a series of other problems. Thus, logistical complexity is mentioned by 42% of owners, while regulatory constraints are mentioned by 39% of them. Degradation, finally, is mentioned by 27% of owners, ”notes PAP.
However, a majority of goods were bought on credit (for 56% of the owners in the sample). For these donors, it is therefore essential to continue to collect land income to repay their loan.
The largely privileged furnished rental
Moreover, among “the owners who have quit, plan to do so soon or are wondering about continuing”, 73% of them say they have returned their property or want to put it back on the long-term rental market, including 70% in furnished rental. In other words, only 3% plan to re-let their apartment or house as a conventional empty rental. It must be said that furnished rentals often allow you to rent more expensive per square meter, while benefiting from a rather advantageous tax status (the LMNP). Another option: the sale of the property, which is chosen by 6% of these owners. Finally, 21% of them prefer to recover the property for their personal use.
In any case, these data confirm other studies going in the same direction and highlighting a boom in the rental supply, in particular with the arrival on the market of properties that were previously used for seasonal rentals. Since the deconfinement, the rental supply has thus jumped by almost 25% over one year, according to SeLoger data published at the end of August. Demand has grown “only” by 15% over the same period.
Airbnb reacts
For its part, Airbnb specifies that the number of ads on Airbnb in Paris increased between June 2020, the start of the deconfinement period, and July 2020, and compared to January 2020, while the global COVID-19 pandemic had not been declared. In addition, bookings for advertisements offering long-term stays also increased between June and July 2020.
“There is therefore no massive deactivation phenomenon on our platform in favor of traditional long-term rentals. The increase in the number of properties available in August and September on the long-term rental market duration therefore results from other factors. It can in particular be explained by a re-entry effect “, notes Airbnb, which offers an explanation:” Long-term rental suffered a halt during confinement. According to information published by SeLoger at In June, ‘81% of landlord landlords saw their rental projects affected (32% of projects experienced delays in their procedures, 31% were postponed and only 4% were canceled) by the Covid-19 crisis’. It is possible that lessors who wanted to put their property on long-term rental in March and had not been able to do so, made the decision to put them back on the market for the start of the school year “.
* Survey carried out by PAP between September 8 and September 18, 2020 with 2,348 investors, registered for the PAP legal information newsletter and who indicated that they had practiced tourist rental during the last 6 months in a French agglomeration (Paris / Ile- de-France, Lyon, Marseille / Aix-en-Provence, Bordeaux, Lille, Toulouse, Montpellier, Nice, Toulon, Nantes, Strasbourg, Grenoble, Rouen, Rennes, Avignon, Saint-Etienne, Tours).
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