Perhaps to avoid foreclosure, and perhaps motivated by the hope of better ‘home sale prices’ to come, the current word is that more homeowners are renting out their properties. And, with job security uncertain, more people seem to be choosing to ‘rent and see’ versus buying now – despite the drop in home prices and historically low mortgage interest rates.
Web sites like Airbnb.com, HomeAway.com, and Craigslist are enjoying an increase of listings from home owners. Airbnb.com – its full name is AirBed & Breakfast – is the newest of these sites. Started in 2007, Airbnb.com has grown to 5,700 rentals in 148 countries with charges of 10% to travelers and 3% to the home owner.
HomeAway.com charges home owners $300 annually to list a property, and is purportedly adding 15,000 new properties monthly.
Craigslist, still the top real estate listing site, is free of charge.