Would you rent your home by the hour?

Some homeowners are reluctant to relinquish their homes to strangers for short-term rentals via platforms like Airbnb. But with most homes standing vacant for much of the day, new platforms are emerging which offer a new, less intrusive way for homeowners to profit from their properties – renting it out by the hour.

In recent years, a number of new companies have emerged across the US, which offer an internet platform for homeowners to list their properties for rent by the hour. Companies like Splacer, Peerspace and Thisopenspace allow ordinary homeowners to turn their living rooms into venues for corporate retreats, photo shoots or baby showers.

The sites operate much like Airbnb. Hosts list their property online, including photographs, a description of the space and the rental price. The companies hosting the platforms charge the owners a commission.

“Hosts list their property online, including photographs, a description of the space and the rental price. The companies hosting the platforms charge the owners a commission.”

While the majority of the spaces offered via these companies are commercial – including restaurants, galleries and warehouses – about a third of the listings are residential.

These companies are tapping into a key element of the “sharing economy”: with an app and a smartphone, everyday objects in our lives become viable revenue streams.

Posted by The Know - Pam Golding Properties