The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
I am in the process of becoming a host for airbnb to help fulfill a void in more than one way. I am a self employed, low income, single parent of 3 children, 2 of whom I adopted, who has had the blessing and opportunity to travel widely. I consider myself to be in a community of countless nomads, or should I say people who love to travel but do it on a budget. When visiting other places and countries I most always back pack or tent out, sometimes I rent a room in a hostile. This thought of sharing is awesome on so many levels. First, there is a possibility that I may go from a low income wage earner to middle class citizen or at least become more financially stable. I plan to rent my space while I am away for the summer. This means I must employ a person to clean the property each time a guest leaves, so now because I can rent my property for short term use. By doing this I already filled 2 voids and let a fellow nomad stay in my home at a reasonable price so they could afford a comfortable space with all the amenities that come from a home, as upposed to renting a traditional expensive Bed and Breakfast room or hotel. Now there is a different choice for travelers, and it is an awesome concept all the way around. The second void it helps fill is a job is now created, that did not previously exist, now the person cleaning the property after each use receives $50.00 so now it is helping the traveler, myself and the cleaning lady. It is my belief that the only requirements should be the property is up to code. Airbnb makes it very simple to keep track of tax paperwork by sending a w-9 form. Having to pay the local and state tax is also a benefit to the state and county where my property is located. Now instead of Americans facing foreclosure here is an opportunity to just rent a room in your home if that is what you are comfortable doing. This is a huge opportunity for any tax paying American citizen who owns property in the United States of America!