The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop #01196

Submission Number:
Helen Morgan
Initiative Name:
The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
We stumbled upon Airbnb when we were looking for affordable housing for my daughter's out of state wedding. It worked perfectly for us as not only was it affordable, but as a result, we established a wonderful relationship with the homeowner. He in turn reached out to us when he was traveling to Bakersfield and nudged us into becoming Airbnb hosts. We never began to imagine the success we would have with Airbnb. It has allowed us to make friends from all over the world. There's nothing better than sitting down with your guests over a glass of wine, and hearing of their journeys and plans for the future. We have guests that are repeat guests, that need affordable, safe housing who can make a living without breaking their budget as well and feel as though they are now extended members of our family. In addition to making friends, we have helped stimulate the economy by making home improvements. We've purchased outdoor seating, put in an outdoor kitchen, and resurfaced our pool - all things we wouldn't have been able to do without the extra income from Airbnb. We are excited about the future as well, as we have also have been able to better prepare for our retirement. We are currently paying down our mortgage and anticipate only 34 more payments before it is completely paid off. It has also allowed us to increase our deferred compensation for retirement planning which is now allowing us to actually set a realistic retirement date. We are optimistic that we can use Airbnb as a supplement to our retirement to help offset the increased cost of healthcare making us less dependent on government services. We love the flexibility that being an Airbnb host has given us. We are able to vacation whenever we want, yet still enjoy the benefits of renting out our rooms. We love everything about Airbnb and would highly encourage anyone that is concerned about their retirement to consider becoming a host. Life is better because of Airbnb!