The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop #00794

Submission Number:
00794
Commenter:
Jay Sundahln
State:
California
Initiative Name:
The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
To the FTC, Thank you for reading my personal story and background on using Air BnB.Im 52 years old and just recieved my inheretence handed down to the third generation. it was my grandfathers estate, Admeral Wegforth. my grandfather was in the service for 30 years and was a Peral Harbor survivor. He built up his wealth very wisley and it then went to my mother who just passed away. I DIDNT WANT TO BE THE ONE GENERATION who blew his inheritence . I looked up to my parents and grandfather . My grandfather said ALWAYS invest in real Estate. So listening to my GUT. I purcahsed s condo in Maui Hawaii, whicj i visit once a month for the last ten years. Mind You i live in California, NO WAY was i going to be able to rent it out and keep close tabs on it , WOULDNT EVEN know how to get tennents to rent my place . WHY choose mine, so many out there. I CANT LOOSE MONEY OR MY INHERITENCE not in my DNA. I was told bout Air BnB. Its a WOW FACTOR, the people get SCREENED , I get SCREENED to participate, money is held until guest check in and all is above board , just like the p[ictures show. Money is wired to my account ACH method. Before i could get started I had to fill out TAX PAPER WORK, 1099 i beleieve. Air BnB takes a small percentage. It helps me NOT TO GET RIPPED OFF from using a property manager who gets a % everytime it books plus a Large $200,.00 fee per month just to sit there. NO WAY. not going to pay other people to just sit back and collect. I suggest you try Air BnB as a consumer and see hoew it works... Hope thisw is helpful and FTC helps the little guy who invested his inhertence SMARTLY and keeps Air BnB going for other generations to use and keep their retirment home or a place for the family to use. Thanks Jay Sundahl