Nesterly Host Review | How it Works & What To Expect

What: Nesterly serves as a matchmaker and rent collector for homeowners, who want to rent space in their houses for an extended period.

Expected pay: set by you

Husl$core: $$$

Commissions & fees: 2.5%, plus a matching fee ranging from $95 to $195

Where: Ohio and Boston

Requirements: 18 or older; provide personal references and pass an extensive background check

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.

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.

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.

Hosts choose how to price their rooms and whether they’ll give the renter a break if he or she agrees to pitch in with household chores. 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 (8-10 hours per month).

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 Boston and Ohio. If you’re renting 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 also rent your home by the hour, your boat, your car, your parking space, your pool. For a more extensive look at how you can rent your assets, check out “8 Ways to Rent Your Stuff.”