Rent Like A Champion is a forerunner to AirBnB having been launched two years before the company was created. The major goal of this business venture was to allow homeowners in college cities with big-time football programs to post their homes on the Rent Like A Champion website when they were ready to rent them out.
Those who wish to spend their weekend watching this major football event can go to this specific website and make a reservation. People who agree to rent from a property must sign a contract, pay for the rental, and give details about their rental, such as check-in and check-out times.
One of the most significant advantages of Rent Like A Champion is that large groups of people may remain in a single place rather than being dispersed throughout the city in multiple hotel rooms, which are sometimes scarce during game days. Rent Like A Champion made money by employing several flexible practices, such as requiring homeowners to pay a 15% commission to Rent Like A Champion, plus a 2.9 percent credit card processing fee, etc.
Following that, there were other appealing plans for luring homes, such as a full-fledged insurance scheme in the form of a $1,000,000 liability and structural damage coverage. As well as the $5,000 for included material in each rental property.
It was a source of extra revenue for the homeowners who were expecting an average of $1100 in rent for one weekend and could put their property on the internet as much as they wanted during football season. This method of business has created a significant departure from traditional business models, and it has grown in favor of this modern era.
When Rent Like A Champion first launched in 2006, the founders were providing a solution to one of the most common problems faced by football die-hard fans. When they have to watch a football match, they frequently have to travel long distances, and once they arrive, the massive threat is finding a suitable place to stay. A substantial proportion of the populace was able to find suitable lodging because of the outstanding ideas of the Rent Like A Champion team.
Airbnb Business Concept
Airbnb is a marketplace, which is web-based, that links people looking for a place to stay with people who want to rent out their homes. This particular business venture is rapidly expanding due to its multiple benefits.
For hosts, listing their house on Airbnb is a fantastic method to earn extra money by listing their property and its tempting characteristics to a large number of potential customers.
Without a doubt, every home that is listed for rent is at risk of being damaged by the renters, and for the guests, the advantage of Airbnb rentals is comparatively inexpensive lodging with the risk that it may not appear exactly as the picture depicts.
There are many positive attributes for Airbnb such as adequate selection of properties, chargeless listings, hosts being free to set their price, prioritized searches, additional services, etc.
Present Scenario of Airbnb Business
Airbnb is the greatest marketplace to search for an appropriate place to stay because it lists a variety of properties – single rooms, suites of rooms, apartments, enormous castles, etc – on the Airbnb website. As a result, it gives customers an overwhelming experience because they may acquire information about any type of property.
Furthermore, hosts are not required to pay any fees to list their property on this website. Descriptions, photographs with subtitles, and a user profile where potential customers can learn more about the hosts can all be found in listings.
Besides, it is the sole discretion of the hosts to set the price, how much to charge per night, per week, or month for the property, which they intend to rent out. Subsequently, guests will get an exclusive feature of searching the Airbnb database by prioritizing their preferences. For example, they can search in Airbnb website sorting out by date, location, price, type, amenities, etc.
Airbnb has recently grown significantly by offering attractive options to its users. Despite providing information on the sort of lodging, people learn about a variety of topics relevant to that location, such as classes and sightseeing, popular restaurants to visit, and so on. Restaurant listings also include dependable and trustworthy evaluations from Airbnb hosts, which has proven to be a fantastic tool for attracting new consumers to Airbnb.
To recapitulate, Airbnb and ‘Rent Like A Champion‘ are the forerunners and leaders of this digitalized era, which has proven to be a huge success by providing an alternate perspective to established business models. The most interesting aspect is that whatever we can sell on the e-commerce site can also be rented. When ‘Rent Like A Champion’ launched in this technology era, they were the only ones with such a unique concept, renting out houses through software, proving that peer-to-peer rentals still have a lot of room for new entrepreneurs.