We heard two bills in Commerce about renting your stuff: SB1379 (renting all of part of your house) and SB1720 (renting your car).
SB1379 is an attempt to regulate the short-term rental industry. AirBnB started as a way for people to make extra cash by renting a room or a guest house on your property, but it has become big business. Tourist towns, in particular, have been overrun with party houses, short-term rentals that accommodate 20+ people for large, noisy get-togethers. The original version of 1379 included occupancy levels. Those were taken out to get it out of the Senate. Occupancy levels seem to be one of the biggest complaints from the neighbors. As it is, 1379 adds some regulation to a completely unregulated industry in the state. In my opinion, it does not go far enough in its current form.￼
SB1720 is a consensus bill on peer-to-peer car sharing. This is not you renting your car to your buddy for some cash. This is you listing your car on a electronic platform for rent by people you don’t know. This bill has been proposed in the past, and I had concerns about insurance, particularly if the car is totaled and there is a loan on it.￼ There is a lot in 1720 about insurance, but my concerns about people losing their cars in accidents or losing their cars￼ and still owing money on them have not been assuaged. In my opinion, 1720 has huge red flags for anyone who is considering listing their car and renting it.
Continue reading Rent Your Stuff for $$$: What Could Go Wrong? (video)