The sharing economy is rapidly gaining popularity. Before you jump in on peer-to-peer transactions, understand how they work and how to avoid financial pitfalls.
Understanding Ride-sharing
Ride-sharing is the term used to describe when, for a fee, a person drives someone in their automobile. The rides are arranged through an on-line application which is created by a Transportation Network Company (TNC). Currently the major TNCs are Lyft, Sidecar and Uber. To learn more about ride-sharing, click here.
Understanding Home-sharing
Home-sharing or peer-to-peer rentals are sites where people rent out rooms or entire homes to guests for extra income. Guests find a property online and pay for the stay like a hotel. The difference is that the property is often a privately owned apartment, condo or house. Anyone can register as a host or guest. To learn more about home-sharing, click here.
Related Videos
