Airbnb recently launched a new program that will enable apartment tenants in certain buildings to be hosts. Dubbed “Airbnb-friendly apartments,” the company said that this program will “unlock the economic benefits of hosting to help renters cover the rising cost of living.”
“We believe cities can help renters better afford where they live by supporting Airbnb-friendly apartments and embracing policies that allow renters to share their space,” the company announced in a statement.
The median U.S. asking rent in October rose 7.8% year over year, according to a Nov. 16 Redfin report. And the Consumer Price Index (CPI) shelter index contributed more than half of the monthly all items increase in October, the Bureau of Labor Statistics (BLS) indicated on Nov. 10 — rising 6.9% over the past 12 months.
The company said that this is “part of Airbnb’s broader efforts to help more people tap into the economic benefits of hosting at a time when many are trying to keep up with the rising cost of living.”
It added that over a three-month period, renters who hosted in Airbnb-friendly apartment buildings hosted on average nine nights per month, earning an average of $900 per month.
So far, the company lists 175 Airbnb-friendly apartment buildings in 25 cities across the U.S. — including in Houston, Phoenix and Jacksonville — and plans to launch the program in additional cities in the coming months.
“Airbnb was founded during the Great Recession when Brian and Joe 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. 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,” Nathan Blecharzyck, Airbnb co-founder and chief strategy officer, said in the release.
All hosts must be the apartment’s primary resident and each building has its own community rules for hosting, including a limit on the number of nights renters can host per year, the company added.
The new Airbnb page will enable people to browse Airbnb-friendly apartments, use an earnings calculator and connect with building management.
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