09:58:37 | 2012-05-21
(New York, NY) —The new site, Airbnb has been named several things. Some call it a renting website, while others think of it as the “eBay for the social age.” No matter what title you give Airbnb, there is no denying that the site is catching on quickly and offering users from all over the world a new way to rent properties. Over a million renters and hosts use the house-sharing site, which is designed to help users find short-term rentals.
You can rent someone’s New York City apartment for a few days while you travel. You can rent a parking spot in a busy downtown area per night, or rent someone’s car for an evening at a fixed price. Nearly any space you could imagine renting, is available for rent on the site. In busy areas like New York, where extra space is hard to come by, the service can be extremely useful and puts a whole new spin on today’s rental market.
The site was launched in 2008, with the intention to help users find an affordable place to crash for a night. However, as the site began to grow, all types of rentals began appearing on Airbnb. While Airbnb continues to have success, they are facing some of the many issues that regulate the hotel and rental industries. In fact, many co-op boards across New York City are taking note of the site and the services that it offers to discuss how it affects their properties and residents.
Many questions are being raised about the legality of being able to rent apartments out for less than 30 days. While there many in New York who have found that they can make a serious profit by renting out space in their apartment for a few hundred dollars a night, it is yet to be seen how city co-op boards will eventually handle Airbnb. As for now, co-op boards have only taken note of the site, and many New Yorkers are still listing their apartments on the site daily. Until co-op boards decide to put policies in place to govern short term rentals through the site, Airbnb seems to be a great way for many New Yorkers to generate some additional profit and for others to find short-term rental options in the city.
—Email lisa@brokerpulse.com
