How Fairbnb Plans to Combat Gentrification
The Downsides of Airbnb
The now decade-old Airbnb has changed so dramatically over the last few years that it’s hard to remember how the platform once began. What started as an innocuous home sharing website capitalizing on the gig economy — where moms and pops could rent out spare space to help pay the bills — has now grown into a corporate behemoth worth some $30 billion.
Response of Local Governments
Responses by city governments around the world have been harsh. Hosts in Amsterdam can now only rent their listings for 30 days per year, Mallorca (Spain) and Charleston (South Carolina) have tried to implement outright bans. Meanwhile, San Francisco and Washington D.C. have cracked down on Airbnb with hefty taxes and registration laws.
Introducing Fairbnb: Transparency and Legality
Enter Fairbnb — the company looking to create an alternative to Airbnb. In knowing that government crackdowns are often controversial and ineffective, Fairbnb offers a market-based ethical alternative for local communities. The company is looking to revamp the vacation rental industry in three main areas: transparency, co-ownership, and added value for neighborhoods.