Airbnb Debuts ‘Airbnb-Friendly’ Apartments

Airbnb says it will let apartment dwellers turn their places into short-term rentals.

Announced Wednesday (Nov. 30), the company says its “Airbnb-friendly apartments” program is available at 175 properties around the country and is designed to help people derive some income from hosting amid the rising cost of living.

The November edition of PYMNTS’ Consumer Inflation Sentiment Report found that a third of American consumers have difficulty paying bills, while 50% of consumers say inflation has soured their outlook on their economic future.

Earlier this month, Airbnb Co-founder and CEO Brian Chesky said the company has seen an increase in the number of people signing up to rent out their properties due to high inflation, job cuts, rising rates and economic concerns.

“Just like during the Great Recession in 2008 when [Airbnb launched], people today are especially interested in earning extra income through hosting,” he said.

In fact, 41% of Airbnb hosts cite the rising cost of living as a reason for renting out their property, the company said Wednesday.

According to the company’s announcement, renters who hosted in Airbnb-friendly apartment buildings rented out their apartments an average of nine nights per month and saw earnings averaging $900 per month.

In an interview with The Wall Street Journal Wednesday, Airbnb officials said the program will also help Airbnb win over landlords, who are often averse to allowing short-term rentals.

That aversion has helped fuel a drop in the company’s listings in rental apartment properties, said Airbnb Co-founder and Chief Strategy Officer Nathan Blecharczyk.

“A lot of people are worried their landlord is going to say no, and that even raising the topic might disqualify them from becoming a tenant,” he told the Journal.

The WSJ report says landlords who take part in the listing service will get a share of the total booking revenue from Airbnb sublets, typically 20%.

The new platform is the latest in a series of efforts by Airbnb to attract new hosts. On Nov. 16, the company launched “Airbnb Setup,” a program designed to make it easier for people to transform their homes into Airbnb properties.