The Sharing Economy – Online Rentals
By Joey Freeman
The sharing or access economy, referring to the business transactions completed via online marketplaces, continues to develop since its recent origination. Travelers are able to connect with property owners or renters through these marketplaces for overnight or extended stay accommodations. Online marketplaces connecting hosts and travelers have sprung up in recent years with over 60 million users in over 190 countries. For property owners, the surge in popularity of this peer-to-peer marketplace has introduced unique and unexpected property and liability risks.