The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop #01121

Submission Number:
01121
Commenter:
Ernie Howard
State:
Texas
Initiative Name:
The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
My husband and I are baby boomers; 61 years old. We, like most people, have worked our entire adult lives, purchased our home, raised and educated our five children, all the while not saving enough money for retirement. We purchased a small property in Galveston after hurricane Ike and began rehabbing it. After about 3 years, we were finally able to use it. Our original intent was to make it a weekend rental to help subsidize our retirement when we turned 66. We have used AirBNB now for 7 months and have been truly blessed by our success. We have been able to give part-time employment to a single mom whose daughter is in college. She helps me with the cleaning. Additionally, we have been able to pay down the mortgage on our home so that hopefully, it will be paid off by the time we are ready to retire. The AirBNB team have a throughly thought out communication plan. We are able to keep a documented log of communication with perspective and subsequent guest. They tell us stories about who they are and why they're visiting Galveston. It is not our usual practice to meet guest, but we did get the opportunity to meet a family from Egypt. It was a wonderful experience as we took pictures before they left. My 82 year old mom lives next door to the property and she interacts with everyone that visits and comments on the graciousness of the people visiting. The monies we receive from Airbnb will definitely help sustain us today as we prepare to retire and 5 years from now, when we are ready to retire. People staying at Airbnb properties we believe are looking for value and service in a clean and safe environment. I believe that, we at the Boutique Bungalow in Galveston, Tx, are able to provide just that.