Airbnb Partners with the Real Estate Industry

Airbnb has been working on a new program to partner with landlords of rental properties. Landlords have not been too keen on Airbnb since it started because they had no control or knowledge of their tenants who were taking part in home-sharing on Airbnb. The program that Airbnb created, which has been coined the Airbnb Friendly Building Program, seeks to be a solution to that frustration by bringing more control and financial gain to the landlord.

Building owners apply to the program then they get to decide the terms under which tenants rent their spaces and submits them to Airbnb then they amend the tenant’s lease accordingly. After all of this, tenants are able to sign up for their own building’s program which allows the landlord to receive regular reports. The landlords usually can make somewhere between 5% and 15% of their tenant’s rental earnings.

Airbnb began implementing the Airbnb Friendly Building Program back in April and claims that between 1,100 and 1,500 units are participating or are scheduled to join soon in cities all around the U.S. including Nashville, Philadelphia, and San Jose.

One of the most common criticisms of Airbnb is that it permits the possibility of landlords turning their rental properties into hotels to turn a larger profit instead of honoring long term tenants. However, Airbnb made it clear in their announcement that this partnering program is meant only for rental properties with long term tenants.

 

Check out the article on Fortune by Kia Kokalitcheva:

http://fortune.com/2016/09/13/airbnb-building-owners-program/

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