Airbnb Finds Renters for Those Facing Foreclosure
Craigslist has been used to find renters for homeowners facing foreclosure since the housing crisis began. Bloomberg now reports that Airbnb.com, a site primarily used by property owners to rent out rooms, is being used for the same purpose.
This was not the intention of Airbnb founders Brian Chesky and Joe Gebbia, who created the website “to take the hassle out of renting out a house, a spare room, or even just a couch,” according to Bloomberg.
However, it appears that it is helping foreclosure victims like Nichelle Morant who owns a three-unit house in Brooklyn:
With bills mounting and foreclosure looming, Morant converted the space into a bed and breakfast. Using the San Francisco-based rental site Airbnb.com to take reservations, she was soon raking in $4,500 a month, enough to cover her mortgage.
“This has been our stimulus package,” said Morant, a pastry chef, who lives with her family on the ground floor of the home. “We were going to lose our house.”
This article originally published at https://dc.urbanturf.com/articles/blog/airbnb_finds_renters_for_those_facing_foreclosure/2277.
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
DC and Virginia lead the way in terms of where prices have risen the most this year.... read »
When it comes to financing a home purchase, a 30-year mortgage is one of the most com... read »
Pocket listings are growing in popularity in the low-inventory market in the DC regio... read »
The London-style carriage house was originally built in 1892 as part of the Frasier M... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro