Prospective residents can find Airbnb-friendly apartments as the cost of living increases.
Airbnb has launched a program that will assist prospective long-term renters find apartments that allow them to host on Airbnb part time to earn additional income.
Through the Airbnb-friendly apartments marketplace, renters can browse over 175 multifamily buildings in over 25 markets, including Sun Belt hot spots Houston, Phoenix, and Jacksonville, Florida, where they can host a spare room or their entire apartment when they’re out of town. Buildings in additional cities are expected to be added in the coming months.
“Airbnb was founded during the Great Recession when [co-founders] Brian [Chesky] and Joe [Gebbia] needed help affording their rent, and now Airbnb-friendly apartments build on that founding story by making it easier for people to reap the economic benefits of hosting,” said Nathan Blecharczyk, co-founder and chief strategy officer at Airbnb. “As the cost of living continues to rise, renters can use the extra income earned by hosting part-time on Airbnb to contribute to their rent, save for a home, or pay for other living expenses.”
According to Airbnb, this program is part of the company’s broader efforts to help more people realize the economic benefits of hosting in a time of rising costs. Its data finds that over a three-month period, renters who hosted in Airbnb-friendly apartment buildings included in the marketplace hosted nine nights per month on average, earning an average $900.
In addition to exploring Airbnb-friendly apartment buildings, prospective renters can use a custom-built calculator to get an estimate of potential earnings and connect with building management to schedule tours and start the leasing process.
The apartments that are part of the program are meant to be a renter’s primary residence, and each multifamily building has its own rules for hosting, including a limit on the number of nights renters can host per year. In addition, renters are expected to follow local short-term rental rules, other building rules, and Airbnb’s community standards.
Source: Multifamily Executive
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