In need of an escape? A home-exchange startup is launching in Charlotte to help make that desire more attainable and affordable.
Atlanta-based Swiftstay is a private member club for home exchange. Accepted members can message each other and decide if a host can stay in their home when they're away. The model is designed for travelers seeking an easy getaway.
"We're a platform that actually causes people to travel because it's affordable, and it's drive time so you don't even have to buy a flight," said Ifrah Khan, co-founder and CEO at Swiftstay.
The startup was spun out of Neighborhood Studios, a venture company based in the Atlanta area that connects with founders and helps them build startups from the ground up.
Swiftstay's app will be available to residents in the Charlotte region as well as Asheville, Charleston, Nashville, Savannah, Atlanta and Chattanooga in late June. The company plans to bring its concept to more locations across the Southeast later this summer.
Khan said Swiftstay typically looks for hubs that are near several attractions and activities for members to experience. Charlotte fit that description.
"We were in between a bunch of cities, but we heard a lot of good things about Charlotte in terms of its growth, the neighborhoods people were in and the different types of things to do," she said. "And what we thought was it gives other people in the other cities a chance to experience Charlotte."
How does Swiftstay work?
Swiftstay is a members-only club created for travel enthusiasts looking to escape for a fraction of the expenses paid for a hotel or vacation rental company such as Airbnb.
"So that's what makes Swiftstay interesting as a marketplace, because all the supply is also all the demand," she said. "Everybody has to put their home up at some point."
All of the destinations are within driving distance, as Swiftstay focuses on spontaneous travel to provide greater accessibility, Khan said.
Swiftstay vets members by verifying their LinkedIn or Instagram pages and conducting an onboarding interview. The company also ensures the home is in a safe neighborhood and within close proximity to fun outings and appealing restaurants. Members are notified every Sunday about available homes for the coming weekend.
The platform operates on a credit system instead of one-on-one home swapping. Members earn credits by listing their home on Swiftstay, granting them with 0.2 credits each night they're away. A homeowner or renter receives one credit per night each time a guest books their place. One credit equals one night of free stay for each member.
Swiftstay uses a concierge approach. The company takes care of the professional cleaning before and after the stay. It also provides guest and hosts with fresh linens and towels, toiletries, a lockbox and professional photography of each home listed. Memberships also include $100,000 worth of coverage for each stay.
"That makes it easy for the host to get up and leave, and then Swiftstay handles everything else," Khan said. "We even help with check in and check out."
A membership costs about $300 annually. Outside of that, a user would need to pay the cleaning fee of $150 for a weekend stay. That's a major cost saver compared to reserving a home through Airbnb, which could charge more than $100 per night plus $75, on average, for the cleaning fee, according to 2024 data by NerdWallet.
Swiftstay has already started recruiting members in its targeted cities, including Charlotte. The company has a waitlist open at tryswiftstay.com for those interested in a membership.
Swiftstay is waiving the first year membership fees for Charlotte members if they apply this month, Khan said. Initial members will receive credits for three nights of stay in a listed home where they only pay the cleaning fee.
Hosts so far include founders, creators, investors, travelers and business owners.
"I wanted to travel more and this is something that allows you to do that on any given weekend," Khan said about the inspiration behind Swiftstay. "This enables you to have the same quality of an escape without having to pay a lot."
