Traveling is expensive. But at the same time, it’s something that people are prioritizing more and more. So, the way is to find new ways to travel and try to reduce costs.
The trend now is to swap homes with a stranger, instead of staying in hotels or Airbnb.
Kindred is one of several home exchange platforms that allow users to travel the world for less. In addition to helping cut costs, these services are also a way to alleviate current concerns about overtourism and rising rents.
“More than 90% of our homes are the actual primary residences of the host member, and for most of the year, it’s where they live,” explains Justine Palefsky, co-founder of Kindred, to CNN. “Members are swapping nights, not dollars, so there’s no way to buy or sell nights on Kindred for money.”
Kindred was launched in 2022 and now has 75,000 members in 150 cities across the United States, Canada, Mexico, and Western Europe. Joining Kindred is free.
“Hosts don’t earn revenue by hosting; they just earn the ability to stay in someone else’s home at another time.”
Users only pay a fee between $15 and $35 per night to Kindred when they stay in someone else’s home, in addition to covering cleaning costs at the end of their stay. Palefsky says this amounts to about one-tenth of the cost of a short-term rental.
Another similar platform is HomeExchange, which has been around for over 30 years, initially as a catalog business before moving online. Today, it has over 200,000 members in 150 countries. In just the last three years, it has seen a 50% annual growth, with over 460,000 exchanges in 2024.
Home Exchange works a bit differently than Kindred. Users pay a fixed fee of $220 per year for as many exchanges as they want.
But on both platforms, users have much more work than if they were booking an Airbnb. They need to connect with potential exchangers via video call and ensure they are the right choice. The benefit, however, is a deeper and richer experience for everyone.
The impact of short-term rentals on local communities
This is a concern being faced in cities around the world. Airbnb, in particular, has been facing increasing regulatory pressure as city leaders seek to end extremely high rents driven by apartments used by tourists, not by local residents.
Since November 2023, a New York City law prohibits Airbnb users from renting out their entire apartments. Those using the service can only rent spaces while they are also present. Those who do not comply risk paying thousands of dollars in fines.
Barcelona is planning to completely ban short-term rentals by 2028, following street protests against tourist overcrowding and a negative backlash against those using these services.
Source: CNN