More home rentals join shared economy

More homeowners are now looking to rent out their properties on a short-term basis, according to the latest figures from rental site Xiaozhu.com.

Younger owners in their 20s and 30s, especially, are deciding to earn from their investments by renting them when not being used, with some properties fetching as much as 520,000 yuan ($79,000) per year.

Chen Chi, a co-founder of Xiaozhu, said growth in what is being referred to as the "shared economy" in China - the peer-to-peer-based sharing of access to goods and services - is driving the trend, and "transforming the accommodation industry" in the process.