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@Pat It is detrimental to neighborhoods in that it takes housing stock off the market and makes housing more expensive. It happened in New York City when thousands of apartments were taken out of the pool and rented as short terms. Less stock equals higher prices, this trend is exacerbated in neighborhoods desirable to tourists. I’d also like to point out that it is not fun to have airbnbs as a neighbor. There are parties, you don’t know who is coming and going, even if you had perfect hosts and only the best vacationers, who wants to live in a neighborhood without real neighbors? You lose local investment in the community. It is currently happening in my neighborhood in Kansas City. I hope they continue to put ordinances in place to protect housing affordability and current residents. I hope that Elsie and Emma take this seriously as I do enjoy this blog, but I also hope they can relate this type of thing on the blog rather than just showing how fun it is to buy and redecorate a house and then use it to make income as an airbnb.
Like I said in my comment above, it’s different in every city. The cities we are doing these homes in are very moderated and there will not be unlimited bnbs due to laws in place. I agree that it’s possible for it to get out of balance (and stories from New York and New Orleans provide valuable perspective). That said, in these cities we feel it will provide a helpful option as well as a place we can stay when visiting each other.
We would never try to oversimplify this debate. There are definitely a lot of valuable checks and balances that need to be in place, but we don’t believe we’re overstepping those boundaries. We love our cities and want to invest more money, make these properties nicer, pay taxes etc. 🙂 For example- we considered buying a second home in Missouri for a while because we want to visit more and it’s nice to have your own space (especially with another kid on the way) but we felt it would be weird for it to sit empty so much- this is a win/win for us since we have a place to stay and we’re making a nice bnb for others to stay in as well.
I thought Nashville passed a rule stating that a home had to be your permanent residence in order to be used as an Air Bnb? I have lived in two cities that drastically changed because of Air BNB culture. If you are on the owner side it’s great.. ( who doesn’t love fluid income?)…but for the majority of OG locals it can be a nightmare (I’m looking at you Bachelorette parties en masse). Look at what happened in East Nashville over the last decade. IN 2008 you could buy a home there for $70-100k. Now developers offer to owners in cash under market price to sell and then bulldoze the home to put up as many tall and skinnies/duplexes/quads as possible. It can be a super sad thing.
Nashville does have those laws for residential zoned properties (we purchased a property with a different zoning).
I have heard so many different experiences about the growth in East Nashville. Not all good, not all bad. It’s a big and complicated issue for a city to grow that fast. I’m always curious to learn more about people’s experiences who have lived in Nashville much longer than we have.
As far as bachelorettes- we have a no bachelorette party rule (and very strict rules in general) and have never had a problem with it. I definitely think that’s something owners need to be responsible for since Nashville has so many bachelor/bachelorette parties (and I also honestly think those parties are better off staying in a hotel downtown).
Good job on the no bachelorettes! It makes way more sense to have them stay in downtown!
I moved to Nashville in 2003 and lived there 11 years (4 years of that in east nashville). Nashville will always have a piece of my heart. I saw the ups and downs of progress, and honestly I mourn the Nashville I know. That’s not to say that there aren’t awesome things happening there (because there definitely are) but those things came at the expense of a lot of really great things… primarily how accessible Nashville used to be and how many of the artists and makers and small business who launched Nashville into what it is now, can no longer afford to live or do business there now that the NY and LA money came in. It’s happening in a lot of cities, and I suppose it’s to be expected… but it is sad. Hopefully things will level out over time.
I do wish you luck in your endeavors there though.. I still believe Nashville is a winner.
Marisa: I know Elsie and Emma personally and you really couldn’t wish for better or more moral business women. These properties are in office/commercial zoned areas of Nashville and in no way take residential inventory “off the market”. I rarely read these comments, but it seems some people are so blinded by jealousy that they freely make negative assumptions. Just annoying when uninformed folks are bitterly critical toward these gals follows all the rules and are contributing positively to society in every way.
I trust being seasoned business people that they did the research and are grounded in their values. Please celebrate others success! I’d also like to point out that I would much rather rent an Airbnb from someone who owns a small business and then to rent a hotel room from a large chain. I assume you hadn’t thought of that. If you are disappointed with your own success look into changing that for yourself. Congrats Elsie and Emma! I have loved watching you grow and blossom through the years and share your gift with so many people.
Isn’t supporting Airbnb the same as supporting a “large hotel chain”? The difference is, those small business owners have no protection, and you’re still supporting a large corporation – who is using free labor to make money. You as a guest also don’t have protection – Legally and safety-wise (hotels have to pass rigorous safety standards. Your Airbnbs do not. Your gambling whether smoke alarms, CO2 detectors, locks, electricity, plumbling etc all work properly). Hotels also do not take homes away from low income and middle-class families under the guise of progress. with no control or over-sight. I trust you hadn’t thought of that, though.
Jenny, I have to respectfully disagree with a number of your points here.
Guests do have protection. I can’t speak for every city in the world but in both Springfield and Nashville you have to pass multiple inspections (for adequate smoke detectors and other safety measures) before you can obtain your short term rental permit and legally have guests stay in your home. I think this is a great law and I am VERY glad as both an owner and someone who rents short term rentals to stay in with family on vacations that this is the case. And if anyone out there reading this does ever stay in a short term rental that didn’t have smoke detectors or locks on a door, etc you should absolutely inform the owner and if needed (like if they do not resolve the issue) leave a review on the website and contact the city to let them know.
Also, we did not take a home away from low income or middle class families. We are a middle class family, for one. But more importantly you may not know this but there are actually quite a lot of laws and over-sight for short term rentals. Again, I am not an excerpt on every single market but in both Springfield and Nashville there are only certain zoned areas you can have short term rentals in OR there can only be a certain number in an area. I personally especially like this second option (this is what Springfield has) because it protects neighborhoods from being completely bought up by investors for the purpose of short term rentals. Both of the properties we chose to purchase completed the requirements of these oversight measures.
1. It’s Elsie + Emma’s business what they do with their money. No one else’s. They have worked hard and earned it. They can do whatever they please with it.
2. I doubt if they were men, anyone would be making comments like this. Instead of shaming them for making money, let’s cheer them on for working hard and making intelligent business decisions. In addition, if you are here on their website, consuming the FREE content they create (like all of us), then you too are profiting from their hard work.
How exciting! Always love seeing how you guys renovate a space and this one feels so special since you will be able to spend more time together! And the story about your grandma and her sister! Life goal for sure!
Congratulations on the new properties! That’s so amazing and I can’t wait be able to invest like this one day. Hard work and dedication! Your renovation projects are my very fave posts that you do. Can’t wait to see the progress.
How fun!! I know it’s always a little gauche to talk about money, but in the same way you do DIYs and decor breakdowns I would love a little peek into how you manage your properties. Like are they mortgaged, what kind of mortgage, are you mainly going through the business as a corporation…etc. etc.
Anyhow, super cute- and I love the idea of calling it the “Holiday House” !
Agreed on this topic. I would love to see more business related posts now that the ABM business is growing. I’m sure many other readers would love to follow the avenues you ladies have taken towards success!
Good to know of this interest! I am personally always super interested in learning more about other peoples’ businesses and investments and learning from others over the years has really helped me so the thought of doing that in any small way for others would be something we’d be interested in. Although, obviously, talking about money can be quite intimidating as well for a lot of reasons.
I am so happy for you guys! That is so exciting, I cannot wait to see the finished renovations!
Emma! 🤗🤗🤗 great little hint there. Congrats!
This is AMAZING! I can’t wait to see what you guys do with the spaces. Especially that duplex – I love the idea of you each decorating your halves in your own styles! 🙂 – Mike.
So fun! Congrats and looking forward to seeing the room/house tours in the future. Sorry you had to put the disclaimer at the end, but I know it comes with the territory (unfortunately). Keep being you and enjoy the blessing of what you’ve been able to accomplish with all of your hard work.
Yes- we love to follow Sherry and John too! They’re so inspiring!
I am 110% obsessed with everything John and Sherry do and have been following along with their renovations for years including their duplex. 😉 They are amazing.
I’ve always gotten the impression that Emma & Elsie were extremely passionate about giving back, so I’m a little surprised by the charity comments.
This is really exciting news! Congratulations to you both!
I know, it’s to each his own, but I would never think of asking a friend if they contribute to charities. And for someone to bring that up here with “internet friends” is very bold. It’s none of our business how you ladies disperse your funds. Have a beautiful day Elsie and Emma!
My husband is currently getting his real estate license and we want to invest in both long term and a few thoughtfully selected short term rentals. This is very inspiring! I agree with the comment about how impressive you both are at hearing the naysayera reapectfully and answering true to your own research and opinions. Younguys could offer a Master Class in that skill! Lol.
Wow! Congratulations! You gals work so hard and keep me amazed by how much you accomplish. Kudos to you both as well as your team. I cannot wait to see what you make of these spaces!
This is super cool. I love seeing you succeed.
Never begrudge the successes of others, let them inspire you!
I’m so looking forward to seeing how you will transform the places, I’m so excited!
Wow, you guys are so flipping inspiring! I LOVE hearing these updates and seeing how well you’re doing. I’ve been a long time follower, so this makes my heart sing!
Can’t wait to stay in one of your Airbnb’s when I’m over your way next!
Ah I love that you guys bought the duplexes next to each other…such a sweet sister dream! And really how wonderful for you guys to have places to land when you want to go visit your family AND that you’re sharing those places with others. 🙂 🙂 I can’t wait to see all three properties finished!
I dream of renovating an older home someday! Wishing you luck with both projects!
To me, it goes without saying that you guys are incredibly thoughtful and generous people. It is so obvious in every way through this blog! I saw someone say this, and it would be cool to hear about how you decide to donate to what causes-truly because I value your guys’ opinions so much 🙂 either way, you have NOTHING to explain to anyone!!
Looking forward to your renovation and design posts on these properties. Halloween is my favorite time of the year as well. Cannot wait to see your decorating inspiration for the holidays. I love that you support each other as sisters in your various projects and investments.
I hate that there are so many trolls on the internet you and your sister have to constantly have to explain yourself or validate your choices to them. You both are clearly amazing and warm individuals and anyone who reads this blog can see that.
I am also especially upset that some people also have to troll the comments, eg. with regards to charitable giving.
All these people should be ashamed of themselves.
We should be celebrating with you, this is an amazing bit of news. So sad that people feel the need to pull other people down to feel better about themselves.
You do you Elsie and Emma. Can’t wait to see the posts.
Apologies if this has already been mentioned/ posted something like this and I missed it, but it would be amazing if you guys could post about some of the strategies you use to help save for a home. My husband and I are having trouble finding a balance between “put every penny away for the future” and still being able to enjoy the here and now.
Any advice or resources would be amazing.
I really enjoyed reading these comments.
I’m not American but Air BNB is impacting communities around the world (including my hometown in South Africa) so the debate is very interesting to me.
In addition, someone wrote that they’d be keen to hear more about the business side of ABM. I’d like to second that! Would love to read periodic updates on this too!
Just getting caught up and delighted to see this post, I would be very interested in hearing about the recent law changes and how it affects the market. You girls do good work, and I had to chuckle while reading comments from previous posters that want an essay on your contributions. You handled it well.
S. Leutenegger,C. Huerzeler, A.K. Stowers, K. Alexis, M. Achtelik, D. Lentink, P. Oh, and R. Siegwart. "Flying Robots", Handbook of Robotics (upcoming new version - book chapter available online).
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M. Blösch, et al., "Vision based MAV navigation in unknown and unstructured environments", Robotics and automation (ICRA), 2010 IEEE international conference on. IEEE, 2010.
D. Mellinger, and V. Kumar, "Minimum snap trajectory generation and control for quadrotors", Robotics and Automation (ICRA), 2011 IEEE International Conference on. IEEE, 2011.
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