The rising popularity of short-term rental services from popular sites like Airbnb, VRBO and HomeAway are increasingly impacting the housing, real estate and renovation industry. As many homeowners open their homes to guests for a small (or large) fee, some economic experts expect that we will soon see an availability and affordability crisis.
However, the polarizing Airbnb trend presents new opportunities for contractors and remodelers. With an increased number of homeowners turning to Airbnb and HomeAway as a way to bring additional revenue, we can expect them to turn to contractors and remodelers to create private entries, home additions, and even build outdoor sheds to provide a comfortable place for renters to crash.
Here are some of the top implications to look out for as more adventurous travelers seek an alternative to traditional hospitality:
At LP, we strive to offer building solutions, like LP® Outdoor Building Solutions®,LP® SmartSide® Trim & Siding, among other products, that make it easy for your company to help clients renovate and redesign a home—whether it be for themselves or for a short-term rental property. We want to hear from you. Visit our Facebook or LinkedIn page to share how the short-term rental industry is impacting your business.
Big builder market share has doubled in the last 25 years and now represents about 50 percent of housing starts nationwide – and even 75 percent in some major metro areas. These mega-builders have huge budgets for both land development and marketing. It’s increasingly difficult for small and medium-sized builders to compete, but LP is committed to helping them prosper.Continue Reading
GoBankRates.com estimates that the average tax refund this year will total about $3,000. In a survey conducted by that organization, 10 percent of respondents said they plan to splurge on a vacation or luxury item when the refund arrives. But 9 percent plan to use that money for a “major purchase.”
To better serve its customers in areas of order accuracy and delivery predictability, LP has set some of the industry’s most aspirational supply chain goals. Senior leaders meet regularly with experts at Gartner, arguably the nation’s best consulting firm in the realm of supply chain optimization. The aim is to apply best practices in procurement, logistics and working capital across more than $1 billion of addressable spend.
Move aside, Old Man Winter—it’s officially springtime. Could your home’s exterior use some sprucing up before you’re officially ready to soak up the sun? This spring cleaning season, make sure you’re showing some TLC to both the interior and exterior of your home.