A Seattle startup is offering down payments on new homes—if participants put it up on Airbnb for one to three years. Loftium wants to earn back their initial investment in hopeful homeowners by getting a portion of the profits made by renting a room out. While it’s a sweet deal for those who are “struggl[ing] to generate savings,” some aspects of the 16-page-contract are less than ideal. Only eight days out of the entire year can be set aside to have friends or relatives stay in the room, and if you must stop renting the room before the term is up, you have to pay the rest of what you would have earned—plus 15%—in just one week. (NYTimes)
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