The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
My husband and I own our home in central Texas, paying off the remainder of our mortgage. We are retired, on a fixed income of social security, and we supplement that income by renting our home to visitors via airbnb and vrbo. We pay taxes on our income, and rely on what remains to help us stay in our home of eighteen years. The money we make covers necessary maintenance, helps with homeowners insurance, property taxes, etc. We would probably not be able to remain in our home without this avenue of income. We are certain that we offer the public an alternate form of lodging that is very desirable, and that many people benefit. Our local area benefits from frequent visitors that spend within the local economy. Large numbers in a family are able to travel to graduations, weddings, reunions and stay in our type of lodging because of the cost savings of home rental. If only hotels were available, the numbers of travelers would be reduced for these group-focused events, and length of stays would probably be shorter. We feel we are great ambassadors for local economies that need ongoing support. We strongly feel that this alternative form of home rental is an important, economy-building form of "employment" that does nothing but benefit the backbone of a fragile segment of citizens - the ones that need to keep productive, money-making tactics in place.