Airbnb Targets Bigger Stake in Multifamily Market With Plan To Attract Large Landlords

Airbnb is working with some of the multifamily industry's largest landlords in a bid to boost listings and increase its stake in the apartment business.

The San Francisco-based home-sharing company has unveiled a service that will act as a listing platform for developers including Greystar Real Estate Partners, Equity Residential and at least 10 other multifamily owners and management companies across more than 175 buildings in the United States, many of which have previously banned short-term rentals in their properties.

The service plans to allow tenants in a multifamily property to sublease their unit for a set number of days each year as determined by the building's owner, who would then get a cut of Airbnb's revenue from the sublets, typically about 20%. An Airbnb spokesperson said Wednesday a new page on its website would list only so-called Airbnb-friendly buildings, starting with properties in 25 major markets such as San Francisco, Atlanta, Dallas, Houston, Phoenix, Seattle and Denver.