.
CONNELL: THE ONLINE ECONOMY IS
CHANGING THE WORLD.
HOW CAN YOU CASH IN ON ALL
THAT?
THERE ARE OVER 5 MILLION AirBNB
LISTINGS NATIONWIDE AND
SHORT-TERM RENTALS ARE ONE OF
THE FASTEST GROWING BUSINESSES
IN THE UNITED STATES.
BRAND-NEW HOME RENOVATION
SERIES ON NETFLPLACE, WE COULD
DOUBLE YOUR RATE AND GET YOU UP
TO 500 A NIGHT.
CONNELL: KENNEDY SPOKE TO THE
CO-HOST OF STAY HERE.
PETER LARMER, WATCH THIS.
>> PEOPLE THINK IF I TIDY UP
THE DESK, I CAN PUT THIS BABY
ON AirBNB, THERE IS SO MUCH
MORE TO THAT.
>> WE CALL THAT THE JUNK DRAWER
PHILOSOPHY.
IT'S CHANGING, THE BUSINESS IS
EVOLVING NOW BUT USED TO BE
GRANNY'S OLD APARTMENT, THE
GARDEN SHED, THROW A BED IN IT
AND IT WAS FULL OF ROTTEN OLD
FURNITURE AND HORRID FLOWERY
SHEETS.
>> OLD STUFF.
AND OUR SHOW WAS THE FIRST ONE
HELPING PEOPLE GET MORE R.O.I.
>> YOU HAVE A GENERATION OF
PEOPLE, THIS IS HOW THEY EXIST.
THE GIG ECONOMY, IT WOULD BE
HARD TO EXPLAIN TO MY PARENTS
HOW TO GUSSY UP THEIR HOUSE TO
HAVE AirBNB INCOME.
IF YOU'RE TALKING LIKE 6,000,
$10,000 A MONTH, THAT'S REAL
MONEY.
YOU DON'T HAVE TO WORK, YOU CAN
SIT AROUND AND BATHE IN AVOCADO
TOAST.
>> SOME PEOPLE, ADMITTEDLY IT'S
A FRACTION RIGHT NOW, SOME
PEOPLE MAKING A MASSIVE,
MASSIVE INCOME.
>> WITH MINOR MODIFICATIONS.
>> MINOR MODIFICATIONS.
>> PUT THE WI-FI PASSWORD ON
STICKERS ALL OVER.
HOUSE OR APARTMENT, BECAUSE
THAT'S THE FIRST THING YOU'RE
LOOKING FOR WHEN YOU WALK INTO
A PLACE.
HOW ARE PEOPLE DISAPPOINTED?
IF I GO TO AN AirBNB IN A CITY
I'VE NEVER BEEN.
WHAT'S THE BIGGEST CAUSE FOR
DISAPPOINTMENT?
>> THE WORST THING PEOPLE CAN
DO IS LEAVE THEM IN KIND OF A
SOULLESS VACUUM TO FEND FOR
THEMSELVES.
LIKE IF I'M FLYING -- I LIVE IN
L.A. NOW, BUT IF I'M FLYING IN
FRANKFURT AND I WANT TO STAY IN
AN AirBNB, I WANT TO EXPERIENCE
IN THE EYES OF A LOCAL.
I DON'T WANT TO ROLL UP WITH
THREE SCREAMING KIDS, WHAT'S
THE WI-FI!
NO SNACKS, THE PLACE MIGHT BE A
LITTLE DIRTY.
DIRTY IS THE WORST.
>> PEOPLE DON'T SEE PAST THEIR
OWN CLUTTER AND FILTH.
THAT'S WHY YOU AND YOUR PARTNER
HELP PEOPLE SEE.
IT'S ALMOST LIKE WHEN YOU HAVE
YOUR HOUSE STAGED, WHEN YOU ARE
SELLING IT BUT WANT TO DO THAT
LONG TERM FOR THE SHORT-TERM
RENTALS.
>> IT'S THE SAME THEORY, WHAT I
TRY AND DO WITH CLIENTS, I'VE
BEEN DOING AirBNB BEFORE IT WAS
CALLED AirBNB WITH A LOT OF
FOLKS IN L.A., AND I SAY REMOVE
YOUR HEAD AND PRETEND THIS IS
NOT YOUR HOME.
PRETEND YOU ARE WALKING IN FOR
THE FIRST TIME AND WHAT YOU
DON'T LIKE, AND I HAVE TO POINT
IT OUT.
TOO MUCH CLUTTER IS NUMBER ONE.
BAD TASTE IS NUMBER TWO.
A LITTLE BIT OF BAD TASTE IN
L.A., AND ALL OVER THE COUNTRY,
AND NUMBER THREE IS TRYING TO
ANTICIPATE WHAT THE GUESTS WANT
BEFORE THEY WANT IT.
LIKE FIZZY WATER OR DRINKS FOR
THE KIDS OR SNACKS OR IF THEIR
RELIGIOUS BELIEFS DON'T ALLOW
THEM TO EAT PORK, DON'T HAVE
PORK SCRATCHINGS IN A BOWL
WAITING FOR THEM WHEN THEY COME
IN.
>> IF THEY ARE PUTTING THEM UP
ON AirBNB AND MAKING MONEY,
THERE ARE PEOPLE GETTING EXTRA
HOUSES, WHAT ARE THEY DOING?
>> PEOPLE ARE GETTING EXTRA
HOUSES, FLIPPING IT INTO
MULTIPLE PROPERTIES.
I HAVE A CLIENT AND FRIEND WHO
WORKS LIKE THE MARKETING
DIRECTOR FOR A BIG FORTUNE 500
COMPANY, HE SAID PETE, I'M
TAKING OFF TO BANGKOK, GOING TO
STAY THERE NINE MONTHS.
YOU CAN RENT OUT MY PLACE, I'M
GOING BE IN BANGKOK OR ON THE
BEACH BANGING AWAY AT MY LAPTOP
AND WANT TO MAKE A PROFIT TO
COVER TRAVEL, ALL OF MY
EXPENSES AND HAVE MORTGAGE
PAID, AND HE'S DOING IT.
>> WOW, AND YOU TAKE A NICE
TIDY PROFIT OFF THE TOP.
IT'S FASCINATING, BECAUSE YOU
HAVE A BACKGROUND AS A MUSIC
PRODUCER SO YOUR CASE LEVEL IS
REALLY HIGH, AND THEN YOU CARVE
OUT THIS NICHE MARKET IN REAL
ESTATE, THAT YOU KNOW, YOU SAW
THE UPSIDE BEFORE A LOT OF
PEOPLE DID AND NOW SHOWING
PEOPLE HOW TO MAKE MONEY, VERY
CHIVALROUS OF YOU.
>> THANK YOU VERY MUCH.
I HAVE THE MUSIC BUSINESS TO
THANKS.
WE ARE KIND OF FROM THE SAME
ALUMNI THERE, AND TO BE QUITE
HONEST, I'M KIND OF ALLERGIC TO
CANADA CORPORATE.
>> SOMEONE TELLING YOU WHAT TO
DO.
>> I NEVER WEAR BUTTONUP
SHIRTS, I'M WEARING THIS FOR
YOU.
I WANTED TO FORGE MY OWN BRAND
OF REAL ESTATE WHICH WAS ROCK
'N' ROLL AND THIS WORKED WELL
WITH THE NEW GENERATION, THE
MILLENNIALS AND YOUNGER WHO
KIND OF EMBRACE THE SHARED
ECONOMY MUCH MORE THAN OTHERS.
>> THERE ARE A LOT OF PEOPLE,
THE SAME PEOPLE WHO SEE
CANNABIS SUPERIOR TO DRINKING,