When it comes to the new model of business -- specifically social media and the sharing economy -- companies are starting to put more reporting systems into place to help regulate the processes. One of these latest reporting systems was created by Airbnb in order to better address "Animal House"-style guests.
Since renters aren't tied to the neighborhoods they are visiting, it's only natural that they might not be as respectful of it as residents would be. Through this reporting system, those actually living in the area will be able to take control once again in order to ensure their area stays safe, calm and clean. Airbnb cofounder Nathan Blecharczyk says, "Our interest isn't in just serving the guests and hosts. We need to serve the entire community. If that means we have to take action against the host, we will."
Key Themes Behind This Trend
- Home Rental Reporting Systems
- The implementation of reporting systems for home rental services could lead to increased safety and accountability, creating a more reliable ecosystem and building trust with locals.
- Regulating Sharing Economies
- As more companies in the sharing economy implement regulation tools, there is an opportunity to create a standard for the industry and build greater public trust.
- Community-led Monitoring
- Reporting tools that allow community members to take an active role in monitoring the rental market offer disruptive innovation opportunities for building trust and accountability among residents and visitors alike.
Where This Applies
- Hospitality Industry
- The implementation of innovative reporting systems in the hospitality industry could lead to greater trust from guests and locals alike, resulting in stronger relationships with the communities being served.
- Real Estate Industry
- The adoption of reporting tools in the real estate industry could allow for greater visibility and insights into property management and tenant behavior, creating a win-win situation for all parties involved.
- Technology Industry
- As more startups in the technology industry attempt to disrupt legacy markets, there is a growing need for innovative solutions that help build trust and accountability in these emerging markets.
