Airbnb and landlords have historically had a tumultuous relationship. Property owners would often hear of strangers coming and going from tenants’ apartments despite lease agreements that bar tenants from subletting their units. “Part of the frustration for multifamily was that we didn't know how to stop it,” said Young Hill, managing director of Greystar’s property management business. Airbnb’s solution? Convince landlords to embrace it.
In November 2022, Airbnb launched a landlord partnership dubbed Airbnb-friendly apartments that would allow tenants in participating buildings to list their apartments on Airbnb, with landlords getting a cut.It enlisted some of the biggest U.S. owners of apartments, including Greystar, Equity Residential and Starwood Capital… Read the full story here. |