The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
Allowing homeowners to rent THEIR property as they choose is the epitome of American freedom. Congress bowing to hotel/motel lobbyists who contribute to their campaigns and daily sway government officials to keep the industry producing income for the 1% hoteliers is not how American government should work. Austin, Texas has some of the highest rent in the country. I allow my rental tenants to short-term rent their apartments to help make ends meet. One renter is a special needs teacher and the other a reporter. They don't make enough money to sustain the high rent. If they STR their apartments a couple of weekends a month they supplement their income. My daughter is 14-years old. She manages one of my rental properties, pays me base rent and keeps what money she earns above her expenses. She has invested the money she earns from this job and her pet-sitting business and to date has generated over 20% in interest. Allowing my child to operate this asset teaches her invaluable business skills: money management, customer service, blue collar skill (she cleans and washes linens) and general responsibility. Finally, I have a similar arrangement as the one I above detailed with a young woman who has Asperger's syndrome, a form of Autism. She can't work in some of the typical jobs available, but she is a good communicator and has great eye for design. Being an AirBnB host is something she does well and enjoys. Please do not bow to conventional lobbyists who have been hired to keep the standard business model that makes money for corporate America. Give the middle class the power to leverage their own resources. The pittance of revenue this new (actually really old!) way of letting homeowners earn money from their property is not enough to prevent Paris Hilton from buying another $25,000 dog.