Airbnb To Let Apartment Tenants Rent Their Space if Building Is ‘Friendly’

Mandatory Credit: Photo by Jakub Porzycki/NurPhoto/Shutterstock (12311786a)Airbnb logo displayed on a phone screen and a map of Krakow are seen in this illustration photo taken in Krakow, Poland on August 17, 2021.
Jakub Porzycki/NurPhoto/Shutterstock / Jakub Porzycki/NurPhoto/Shutterstock

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.”

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“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.”

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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.

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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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About the Author

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored  the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.
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