Today, Philadelphia became the largest city in the U.S. to pass legislation specifically enabling people to share their homes. The City of Brotherly Love joins the ranks of innovative cities across the world that are embracing home sharing, including Paris, London, Hamburg, Amsterdam and San Jose.
Philadelphia may be one of America’s oldest and most historic cities, but it has now proven itself to be one of the most forward thinking when it comes to the sharing economy and to new technologies that can help its citizens pay the bills and experience the world in new ways.
The laws the city is about to enact will provide safe, smart, and thoughtful regulations ensuring that visitors from all over the world can live like a local. What makes this change particularly exciting is that Philadelphia will soon be host to both Pope Francis and the Democratic National Convention. By opening its doors to short-term home rentals, the city is allowing more guests, more local spending, and more taxes to flow into Philadelphia. The smart new rules passed by the City Council go into effect on July 1, 2015, and will allow every single Philadelphian the right to share their home for up to half the year.
“This legislation will benefit the city, Philadelphians and visitors who want to partake in upcoming events like the Pope’s visit and the Democratic National Convention which will bring millions to Philadelphia, said Philadelphia City Councilman William Greenlee. “I’m glad I could work with Airbnb and the Nutter Administration to enable people to share their homes.”
In the past year, the number of annual guests staying at an Airbnb in Philadelphia has doubled, and these new rules will further encourage the people of Philadelphia to experience the sharing economy firsthand.
Home sharing allows working and middle-class residents turn what is typically one of their greatest expenses into a tool to help make ends meet. The vast majority of our hosts, an average of 82%, are simply renting the home in which they live. Philadelphia hosts have historically been able to earn about $150 per night renting out their homes during peak times, and this is money that can be the difference in making the mortgage or rent.
We applaud Philly’s leaders for developing and designing thoughtful regulations to lead on this important middle-class issue, and we look forward to working with more and more cities to clear the path for home sharing and home sharers around the world.