Security deposits and upfront rent address the problem of deadbeat tenants who may destroy the property or simply not pay the rent. It’s skin in the game to show you’re responsible.
There are some interesting models around the world for alleviating this specific burden that don't involve corporations being everyone's landlord.
My favorite is one I learned about relatively recently: rental deposit guarantees[1] in Switzerland. The renter pays a small premium to e.g. Swiss Post, which will issue a certificate guaranteeing the amount of the deposit. The landlord accepts that certificate in lieu of cash.
1. https://www.post.ch/en/locations/rental-deposit-guarantee
I'm sorry to hear that your government is not protecting tenants rights. In other parts of the world, you do have more rights as a long term tenant than as an AirBnB user. And AirBnB's enforcement of their own policies is a joke, considering all the scams and fraud people get away with on the platform.
In other words, if AirBnB is somehow preferable to renting... you've got bigger problems to worry about.
It's not ideal, but the barrier to entry is way lower for a premium that is not really high imo.
Out of curiosity, where are you from?
My rental (traditional lease) cost is ~10x yours and I am considered to have a screaming good deal.
>I would assume this discussion is centered on coastal American cities
Did you click the link of this submission? It's about Dublin, Ireland. That said you're right I have never checked out airbnb prices in the coastal US and I'd assume they are much more expensive there
That's here in Merida, at least. I wish the rental market would crumble. It's absurdly difficult for a normal person to rent a decent dwelling. The hostel I rent at is full of people in a similar situation. The more conventional rentals get replaced with airbnb's that allow monthly stays, the better.
The supposed legal protections of conventional renting don't exist, and airbnb is actually a better enforcer of agreements than my government.