The Business Tycoons of Airbnb

Two years ago, when the monthly rent on his two-bedroom apartment rose to $5,000 from $2,800, a 35-year-old real estate agent in Lower Manhattan had a quick fix. Rather than move, or take on some random Craigslist subletter, he listed the smaller bedroom on Airbnb, the vacation-rental website. Eventually he was charging $175 a night for short-term stays.