Definition: Airbnb

(AIR B & B) A lodging reservation website from Airbnb, Inc., San Francisco, California, that lets property owners list their spare room, apartment or home in thousands of cities worldwide. Founded in 2008, ten years later, Airbnb had more than four million listings. Its distinguishing feature is that the host is reviewed by the guests, and the guests are reviewed by the host. Payment is made to Airbnb, which forwards the funds to the host after the guest arrives and everything is as advertised.

The name was originally Airbed & Breakfast when one of the founders rented a room in his apartment with an airbed to accommodate the guests.

Not Always So Welcome
Over the years, there have been many complaints about short-term Airbnb rentals. Disturbances such as boisterous parties, strangers coming and going at all hours of the night and other annoyances have caused neighbors to complain. Municipalities worldwide continue to add and change regulations for Airbnb hosts. In addition, when a large number of Airbnb rentals are available in the same vicinity, hotels and regulated B&Bs lose business, and jurisdictions may be stripped of tax revenue.