Why New Yorkers should do home exchanges when they travel
Dec. 20, 2018
Unique kitchen in a nice apartment
Short-term home trading is an alternative to renting your home while you travel
If you are one of the 8.6 million residents of New York City, then it is illegal for you to rent out your entire home as a short-term vacation rental. Short-term rentals have been popularized in recent years by platforms like Airbnb. These are typically rentals of private homes to tourists for less than 30 days at a time. Many travelers have come to prefer renting private homes as an alternative to hotels when visiting cities, as it provides a tourist with an opportunity to experience a city from a neighborhood like the locals do.
Save a lot of money on your travel with home-trades
Residents in cities that do allow short-term rentals might use the extra cash to fund vacations to exotic locations. While this is not a legal avenue for New Yorkers, if you do live in New York all is not lost. Participating in a home exchange, or swap, is a great way to make efficient use of your home while you travel. Home exchanges are not short-term rentals, so they are completely legal in New York for any length of time.
In home exchanges, your guest does not pay you for accommodations, nor do you pay your host. People can use either their primary residence or a secondary property when exchanging. If you go through a service, you may need to pay a fee to the service for matching you with an exchanger, but the arrangement between you and the other party should not be based on any cash transaction. Instead, what you should get out of the exchange is access to a home when you travel. An exchange could quickly shave thousands of dollars off the cost of your travel!
Different types of trades: direct vs. indirect swap
The most common type of home exchange is direct. This type of arrangement can be made by answering an ad posted someplace like craigslist
, or listed on a website that connects potential exchangers. Typically, two people who are planning to travel to each other’s locations will find each other, coordinate travel dates, and make arrangements to host each other in their homes.
A fast-growing type of exchange is the indirect swap. This happens when a person creates an account on a home exchange platform, and offers their home to other members of the service for credit. Other users on the service can find the person’s home by searching date and location through the platform. As a host, a person will earn credit for the time that someone else uses their home and they can use the earned credit to book stays at other homes when they travel. Vezpuchi specializes in indirect swaps. Unlike other services, Vezpuchi does not charge a monthly or annual subscription charge.
So many people want to visit NYC, and you already live here. Leverage that to see the world for cheap
New York is the most visited city in the United States, attracting nearly 63 million visitors in 2017
. That averages out to more than 1 million visitors per week. Since there is so much demand for accommodations in New York, this presents tremendous opportunity for travelers based in New York to subsidize their travels by either direct or indirect exchanges. See the world through home exchanges!
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Stephon Owens is the Founder and CEO of Vezpuchi.