Brian Chesky needed rent money. With a convention in town and all the hotel rooms booked, he and his roommate Joe Gebbia decided to see if some desperate soul might actually pay to sleep on an air mattress in their spare room.

Turns out, they found three — leading us to believe it must have been one hell of a convention. And so necessity begot invention and nicknamed the whelp Airbnb.

Airbnb is a nontraditional lodging tool, reminiscent of a classier Craigslist. You search, book and pay just like any other hotel, except you stay in people’s actual homes and spare rooms. Choose from a host that’ll be there to cook you breakfast or rent out the whole place and walk around in your underwear. With accommodations in over 15,000 cities and 192 countries, Airbnb is offering a tempting low-cost, high-value alternative to the bleachy sheets and bad water pressure of hotels worldwide. There’s even an Airbnb iPhone app.

Of course, Airbnb also flips the coin and allows users to post their own properties for temporary boarding. So whether you’re renter or rentee, you benefit. And should you worry about the liability of letting a stranger into your home — or staying in a stranger’s — the company has rounded out the experience with pictures, videos, reviews and plenty of transparency. There’s also the Host Guarantee that covers your property for loss or damage due to theft or vandalism for up to $50,000. Not a bad incentive for renting out space that would otherwise go vacant.

So for travelers, Airbnb affords you the chance to stay in cool places, meet interesting people and save a few bucks. Renters make some cash and maybe a few new friends.

And all of us can appreciate a travel choice that doesn’t mean choosing between William Shatner and a lawn ornament.