'Fairbnb' Attempts to Right the Wrongs of Short-Term Rentals
Short-term rentals have exacerbated the affordability of housing in neighborhoods all over the country, according to researchers, and have also been accused of ruining neighborhood character in many others.
Feargus O'Sullivan reports on the emergence of a new short-rental company called Fairbnb that makes an attempt at a more ethical business model.
"It’s called Fairbnb, and it’s trying to refashion the home-sharing model so that short-stay apartment rentals can enrich the amenities and housing choices of the communities that host them," according to O'Sullivan.
The company was founded in Amsterdam, and has spread its co-op membership to several European cities in recent years. A full launch if the platform is imminent:
While it is only just preparing to accept registrations from hosts, its community-building exercises have attracted more than 700 people who are ready to list their homes. As its launch date nears, Fairbnb is now going through a crowdfunding push, mainly to fast-track technology development, such as a mobile counterpart to its upcoming online site.
As for how Fairbnb aims to transform the short-term rental business, O'Sullivan also provides this explanation, and more, in the article,
Fairbnb’s model diverges from the standard model in several key ways. Like other home-share sites, it plans to levy a commission on bookings (in Fairbnb’s case, of 15 percent, which is broadly similar to Airbnb). Half of this money would be fed back into the local community where a unit is rented out.