888 Brannan Street
San Francisco, CA, 94103
Airbnb is described as a ‘hospitality exchange service’. It is an online service that allows you to rent out living space to tourists or travellers for short or medium term lets. Whether it’s a spare room or second home Airbnb has been claimed to make 3-4 times the profit you would make through a standard long term rental. By the end of 2013 9 million guests had used the service and this figure is growing fast – a booking is made through the site every 2 seconds.
The provider take care of the payment procedure, booking system and paperwork. They also cover insurance (up to £600,000 or $1 million). Airbnb make their money through commission which is normally between 6% – 12% according to the booking.