For many Nashville residents, Airbnb has been a hot topic over the past few years, with many homeowners listing part of their property on the popular site and others buying new homes to serve explicitly as short-term rentals. Controversy has ranged from sales tax collection to arguments regarding negative impact on neighborhoods versus overall benefit to the city. Legislation has been passed at the local level and proposed at the state level on both sides. No matter where you stand, Airbnbs growth isnt looking to slow any time soon. This year, the company celebrated its tenth anniversary and announced its plans for growth for the next ten years as it seeks to achieve 1 billion guests annually by 2028. With only 300 million guests hosted to date, thats a pretty significant jump. One of the ways the company plans to get there is with the introduction of new categories. Currently, rentals are sorted into groups by entire home, private room and shared room. The new categories will expand options and make searching easier for the consumer.

Airbnb has revealed four new property categories as a part of its initial changes:

• Vacation homes: Residences dedicated to short term use
• Unique: Yurts, igloos, tree houses, air streams and other novelty properties
• Bed and breakfasts
• Boutiques: Professional hospitality businesses with unique styles or themes

Additional categories are in the works, including Social Stays, where hosts offer to spend time with their guests by sharing a meal and showing them around their city. The company also plans to incorporate higher-end designations including Airbnb Collections, properties ideal for specific occasions such as weddings or family reunions, and Airbnb Plus, homes inspected and verified to meet high standards for cleanliness, comfort and design. What these changes mean for the property owner is yet to be seen, but if users are better able to find a rental that suits their needs, hosts may find that they end up with more amenable guests over the next ten years. If youre considering getting into the short-term rental market with the purchase of an additional home, give us a call or go to our website at BenchmarkRealtyTN.com. Our agents can help you find the right property to make it happen.