Airbnb aims for greater participation in the multi-family market with a plan to attract large landlords

Home-sharing company Airbnb is partnering with major landlords across the country in an effort to increase listings, including in the 525 Olive St. apartment tower in San Diego, California. — Photo by CoStar

Airbnb is working with some of the largest landlords in the multi-family industry in an effort to increase listings and increase its stake in the apartment industry.

The San Francisco-based home-sharing company has unveiled a service that will serve as a referral platform for developers including Greystar Real Estate Partners, Equity Residential and at least 10 other multi-family owners and management companies in more than 175 buildings in the United States, many of which have already banned short-term rentals in their properties.

The service plans to allow tenants of a multi-family property to sublet their unit for a set number of days each year, as determined by the building owner, who would then get a reduction in Airbnb’s revenue from sublets, usually around 20%. An Airbnb spokesperson said Wednesday that a new page on its website will only list buildings that are said to be Airbnb-friendly, starting with properties in 25 major markets such as San Francisco, Atlanta, Dallas, Houston, Phoenix. , Seattle and Denver.

Read the full article on HotelNewsNow (part of CoStar)

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