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for now, but is it not subject to the same kind of quality degradation that all online communities are?

I imagine it is, but the bi-directional reviews show that the company has thought about that from the beginning.

I'm MUCH more likely to book a place that is reviewed well, and I am sure that my reviews play a role in the renters decisions to accept me, as well.

The trick is growing the user base to new users that have no reputation. If "good" places won't rent to me, then the quality of the rentals from my perspective is quite poor.

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