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April 3, 2024

How Airbnb Is Going From Multifamily 'Bad Guy' To Landlord Partner

New Speaker Added: Hear From Lawrence Kwon Of Moelis & Co. At New York Hotel Event April 18

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. 

How Airbnb Is Going From Multifamily 'Bad Guy' To Landlord Partner

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…

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Coworking giant WeWork has determined its path forward on 90% of its approximately 500 global locations and is working to emerge from Chapter 11 bankruptcy in the U.S. and Canada by the end of May, it said in a release Tuesday.

The company said it reached agreements with landlords to amend 150 leases, although some of the contracts have yet to be executed, and it will maintain its leases at another 150 locations without changes to lease terms. Another roughly 150 locations will be shuttered through lease rejections or exits negotiated with…

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