Stories like Maleno’s are becoming increasingly common. With the rise in sharing economy apps and marketplaces, more and more people are creating passive income streams to subsidize the cost of expensive property like homes and vehicles, offset the effects of rising inflation, and more.<\/p>\n
We wanted to learn more about how the sharing economy is financially impacting property owners, so we surveyed 1,000 people who list their homes, vehicles, items, and other property for rent on marketplaces like Neighbor, Airbnb, VRBO, Turo, Campspot, Boatsetter, Outdoorsy, and more (see “Methodology” for a full list of participants’ chosen marketplace apps). Here’s what we found.<\/p>\n
Key findings:<\/b><\/strong><\/p>\n One of the less surprising things the survey showed is how rapidly marketplace platforms are growing. Of 1,000 property owners who list their property for rent on one or more marketplaces, 67% said they had listed their property or item within the last six months.<\/p>\n The majority of people also said that they purchased their property or item with the intent to list it for rent on a marketplace.<\/p>\n One reason why so many people are listing their property and items for rent in recent months could be the economy. 79% of respondents said they were looking for rental income to help subsidize their monthly payments in light of economic challenges like inflation.<\/p>\n It’s becoming less of a secret that renting property or items out on peer-to-peer marketplaces can be lucrative. What’s surprising is how many people are taking advantage of that fact and buying more expensive options than they can afford, with the intent to subsidize the monthly payment with marketplace rental income.<\/p>\n In our survey, nearly half of respondents said the ability to offset their payments this way factored into their decision to buy a larger home, nicer car, or more expensive item than they originally planned to.<\/p>\n In fact, offsetting the cost of payments and being able to afford something more expensive were among the top 3 reasons respondents said they decided to list their property or items for rent.<\/p>\n For those who use marketplace apps to list their items or property, more than 1 in 4 said they’re able to earn at least half of their monthly payment through marketplace rental income, and nearly 1 in 10 said they earn enough to cover their entire<\/i><\/em> monthly payment.<\/p>\n While it seems that most owners earn enough to cover a significant amount of their payment, many also incur additional expenses from listing their property on a marketplace. More than 80% said they outsource at least some of the tasks associated with their listing, like cleaning or property management.<\/p>\n Of owners who list their homes on Airbnb or VRBO:<\/p>\n\n
More Than Half of All Respondents Joined Marketplace Apps Within the Last 6 Months<\/h2>\n
![\"67%](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/02-neighbor-Marketplace.png\")
![\"\"](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/03-neighbor-Marketplace.png\")
![\"79%](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/04-neighbor-Marketplace.png\")
47% Purchased More Expensive Property with Plans to Offset the Cost by Renting it Out<\/h2>\n
![\"47%](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/05-neighbor-Marketplace.png\")
![\"offsetting](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/06-neighbor-Marketplace.png\")
![\"more](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/07-neighbor-Marketplace.png\")
![\"More](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/08-neighbor-Marketplace.png\")
53% of Homeowners Purchased a More Expensive Home with Plans to Offset Their Payments with Rental Income<\/h2>\n
![\"53%](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/09-neighbor-Marketplace.png\")
![\"87%](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/10-neighbor-Marketplace.png\")
<\/p>\n![\"41%](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/11-neighbor-Marketplace.png\")
![\"More](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/12-neighbor-Marketplace.png\")
<\/p>\n![\"70%](\"https:\/\/blog.neighbor.com\/wp-content\/uploads\/2022\/07\/13-neighbor-Marketplace.png\")
<\/p>\n