Landlords have had a gripe with Airbnb for a while. The sharing platform facilitates subletting apartments without their consent or knowledge, not to mention a cut of the profits. Now, Airbnb is hoping to make amends by rolling out a new initiative dubbed the 'Airbnb Friendly Building Program'. Here's how it works, according to Fortune:
Building owners—provided they operate in a jurisdiction where short-term rental laws are clear, meaning that there’s no ambiguity nor potential for a regulatory mess—apply for the program. Once accepted, the owner then decides the terms (which units, for how long, revenue division, etc.) under which tenants can rent out their homes and submits them to Airbnb as well as amends its tenants’ leases. Eligible tenants in that can then sign up for their building’s program through Airbnb, and become part of the regular reports the company sends to the landlord.
What’s more, Airbnb also handles paying out both the hosts and their landlords, as well as collecting and remitting taxes where applicable. According to Airbnb, building owners typical take between 5% and 15% of their tenants’ earnings through the program.
For more news on sharing platforms and the sharing economy, check out past Archinect coverage:
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