In less than a decade, Airbnb has grown its home-sharing platform to more than 65,000 cities and 191 countries. Other platforms, like HomeAway and VRBO, have created additional competition in the short-term rental marketplace.
On one hand, short-term rentals can be highly lucrative. For instance, a landlord in the Greater Boston area who collects $2,100 per month in rent may be able to charge $210 per night on Airbnb instead. In this scenario, an apartment would only need to be rented for 10 days per month to break even. Any rentals above and beyond that would be additional income in the landlord’s pocket.