Airbnb Rentals Are the Start of a New Economy

The old days of trying to find a place to stay in certain cities around the world is a lot easier these days. The Airbnb phenomena are turning the hospitality business into a new animal. And people love this new animal. The Airbnb story is only about ten years old. Three mattress salesmen in San Francisco are the brains behind the concept. The concept got its start as three air mattresses on a living room floor, and a decent breakfast the next morning. But the popularity of present day Airbnb rentals rests in collaborative consumption. Collaborative consumption is the concept of swapping, renting or sharing possessions.

The Airbnb industry is big business today. Owners love the extra cash, and renters enjoy the luxury of “no strings attached.” No strings attached means no long leases, no hotel noise, and no parking issues. In many cities, renters save money, but that may not always be the case in big convention towns or large Metropolitan areas where there is always something going on for out-of-town guests.

Owning and being able to manage Airbnb properties successfully is not as easy as it was back when three air mattresses were the only game in town. There are practical as well as legal issues to address. Tax liability and property, content, and liability insurance policy issues can get in the way. Plus, the neighbors may not like strange people showing up late at night or early in the morning. Some Airbnb owners may violate municipal laws, and they may not know it. Condo associations may prohibit short-term rentals. And big cities may restrict rentals if the renters are not staying for 30 days or longer. And then there’s the screening the guest’s issue to address, and the mandatory cleaning thing after every rental.

Airbnb’s are money savers as well as money pits in certain situations. That’s why it is important for owners to rely on When owners want a “hands-free” Airbnb property management service that does it all in Australia they reach out to The company takes care of Airbnb setup, standard hotel housekeeping, 24/7 concierge service, and other Airbnb management services. Those services include record keeping, accounting, and other administrative issues.

Not every city likes the collaborative consumption Airbnb concept. There are capitalists who cringe when the words collaborative consumption come up in conversation. They believe a sharing economy is disruptive. Some capitalists say this new supply paradigm is counterproductive in a capitalistic society. The Airbnb industry is different. Airbnb rentals are one way of moving toward a socialistic form of capitalism, according to some economists. The economics of a collaborative consumption are working on both sides of the equation. More than 4,900 sharing enterprises will generate billions of revenue dollars in 2017, according to the Mesh Labs Global Sharing Economy Index.

That’s the success people like. It’s not about shareholders pushing for more profits for fewer services, or CEOs getting big paychecks for pushing greed instead of common sense business practices. A sharing economy has roots in trust and technology, and there’s more of this type of economy on the horizon in countries around the world.