Why DC Needs to Embrace – Not Regulate – Homesharing [Guest Post]

Graeme King is a Washington, D.C., resident since 2003 who has used Airbnb's platform. This post was coordinated by the Consumer Technology Association. My wife and I have lived in Washington, D.C., since 2003 – a long time for a city with a large population that changes dramatically every two, four or eight years. But we have been able to capitalize on both our own permanence and the city’s transience by becoming homesharers. After years of staying in other people’s homes when we traveled and hearing stories from our hosts about their great homesharing experiences, we decided to join the global network. It was a great decision: homesharing has given us freedom and financial support – which is why I’m troubled by the D.C. City Council’s proposed rules on homesharing. Designed by Kenyan McDuffie – and backed by the well-financed hotel lobby – the proposed measure would crush the city’s homesharing network by restricting rentals to no longer than 15 days, forcing hosts to get a business license and preventing them from renting out any property they might own that isn’t their full-time residence. Steep fines would punish any violation of these rules. Washington is notorious for its expensive housing market. The number of low-cost units in the city fell by 45 percent between 2002 and 2013, and rents have risen sharply, continuing to outpace incomes. Research from the DC Fiscal Policy Institute indicates that the majority of low-income apartments are likely government-subsidized projects, not private-sector developments. The crackdown on homesharing is, in part, an understandable attempt to keep rent affordable. Ultimately, however, blocking homesharing companies such as Airbnb, HomeAway and VRBO won’t help, and it keeps these companies from bringing benefits to D.C. communities. Homesharing allows D.C. residents to become entrepreneurs on their own terms. In 2016, Airbnb hosts in D.C. made, on average, $5,800 in extra income – income they invest in housing, food, transportation and entertainment in D.C. And 13 percent of Airbnb hosts in America’s 10 biggest cities prevented eviction or foreclosure by using the money earned from hosting to pay their rent. What’s more, guests staying in D.C. spend an average of $136 per day, with 36 percent of this spent in the neighborhoods in which they stay. If D.C. wants to retain its status as a global hub for international travel, it can’t afford to place these restrictions on Airbnb. Protecting legacy hotel industries is a regressive move in a world increasingly dominated by the sharing economy. There are more than three million Airbnb listings worldwide in more than 65,000 cities, and  eighty-five percent of consumers view homesharing favorably – no surprise, since an Airbnb homeshare stay often costs less than the price of a hotel room.  And when traditional resources are maxed out – similar to what happened over inauguration weekend – D.C. can rely on its vast network of homesharers to ease the burden. Homesharing can also alleviate monetary burdens for hosts on fixed incomes, and help hosts like me cover the cost of home repair and maintenance. We used the money we saved over two years of sharing our home to renovate our outdoor space, making our home more welcoming for guests and for us. Our second Airbnb guest was a man from Austin, Texas, whose visit to D.C. was his last stop before moving to South Korea. Though his stay with us was short, we clicked with him and kept in touch. He even helped us plan our visit to Austin, offering tips for locals-only lunch spots. Homesharing is about more than doing business – it’s about sharing your space, sharing ideas and making connections. I want other Washingtonians to have the same experiences we’ve been able to enjoy and have the same opportunity to capitalize on one of life’s biggest investments – and maybe make a friend or two along the way. (Image via Airbnb)