Basics:
Nesterly arranges long-term rentals for empty-nesters, background checking everyone for safety
Expected pay: Set by you
Husl$core: $$$
Commissions & fees: $2.5%, plus a match fee of $95 to $195, depending on the duration of the rental
Where: Central Ohio, Boston and Lynn, MA, and Louisville, KY
Requirements: 18 or older; provide personal references and pass an extensive background check
Nesterly Review:
Nesterly serves as a matchmaker between homeowners and renters. Unlike Airbnb, renters on this site are looking for long-term arrangements lasting at least a month or more.
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To make the home-sharing arrangement as safe as possible for both parties, Nesterly requires information about both homeowners and renters. This includes two personal references, criminal and sex-offender background checks, as well as an address history and a Social Security check.
Fees
The site’s ongoing monthly fees are modest — 2.5%. For that the site collects the rent and helps arbitrate disputes, if any arise. However, there is also an up-front matching fee of $95 to $195, depending on the length of the rental agreement.
Rates and rules
Hosts choose how to price their rooms and they set the house rules. No smoking? No pets? Certain rooms off-limits? Will you cut the rent in exchange for chores? Because Nesterly specializes in helping older empty-nesters fill open rooms, cheaper-rent-for-chores arrangements are fairly common.
Most hosts stipulate what chores are needed and how much they’ll cut the rent, if they’re done consistently. Nesterly says the site typically sees a $150 reduction in rent per month for approximately 2-3 hours of help per week.
Cancellations
If a Guest cancels a booking with less than 30 days notice, they forfeit their rent, booking and service fees. If the Host cancels the booking less than 30 days before the move-in date, a $100 penalty will be deducted from their next payout. Guests have 24-hours after their move-in date to cancel for listings being materially misrepresented.
The main drawback of Nesterly is that its only available in only a few neighborhoods in Massachusetts, Ohio and Kentucky.
Recommendations
If you live elsewhere, want to rent more than one room, or charge more than $1,000 a month, the fee structure at competitor, Silvernest, is also better. Silvernest, which does much the same thing, is available nationwide. You can sign up with Silvernest here.
What their users say
We found no consumer reviews of Nesterly, but plenty of stories about happy house-sharing arrangements.
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