The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
Sharing our space with guests has hugely affected my credit card debt. Prior to the abilty to rent our guest house through sharing sites like Airbnb, I was looking at serious financial debt with the possibility of bankruptcy. I had long-term renters, but always struggled with getting payments on time, and had to worry about their house-keeping skills; whcih was affecting my repair budget. Now with the help of companies like Airbnb, the payments are a non-issue, the monthly income is far greater, and I get to clean & service the space after each guest; which insures the guest house is properly cared for. This my 4th year, and I haven't hosted any guests that have made me rethink the decision of sharing our space with short-term guests. I've significantly reduced my revolving, debt, am no longer in danger of filing bankruptcy, and I get to help guests from all over the world discover the Memphis area and promote tourism.