The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
I list my coastal property with Air BnB and have been amazed at how successful and efficient the process has been. Their system allows both owners and renters to fully vet each other prior to booking a property. They do the organizational paperwork, money exchange and payment of taxes, which makes it so much easier for me. My property is booked for every date I make it available and the renters have been excellent. Air BnB encourages back and forth communication and has policies for any contingency, such as cancellations, complaints, questions. I have turned a financial drain into a profitable enterprise thanks to them. I also use Air BnB for finding accommodations when I travel. Their web site is incredibly informative and easy to use. Owners tend to be responsible, affable folks with an incredible variety (price and quality-wise) of rentals. The way properties are presented makes it easy to judge the quality, and the numerous customer reviews are honest and revealing. My experiences with Air BnB have been excellent. It's an innovative, well-run company that attracts very high level owners and renters. I can see why hotels, etc. would be loosing bookings, which reflects how things will change in a free-market system for vacation accommodations.