Airbnb has launched a new program to allow landlords to get a slice of the revenue pie when their property is leased for short-term stays through the site, reports Fortune.com.
Dubbed the Airbnb Friendly Building Program, the new initiative unveiled last week will let building owners sign up to work with Airbnb and tenants on allowing home-sharing on their properties within whatever guideline they agree to.
And of course, they’ll be able to share in the revenue their tenants get through Airbnb.
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 – can apply for the program.
Once accepted, the owner then decides the terms under which tenants can rent out their homes (which units can be rented and for how long, and what the revenue division will be) and submits them to Airbnb as well as amends its tenants’ leases.
Eligible tenants can then sign up for their building’s program through Airbnb, and become part of the regular reports the company sends to the landlord.
Airbnb also handles paying out both the hosts and their landlords, and collecting and remits taxes where applicable. According to Airbnb, building owners typically take between 5 percent and 15 percent of their tenants’ earnings through the program.
Landlords have long been aggrieved by the use of Airbnb by their tenants, and this program is a way to involve building owners and landlords.
Jaja Jackson, Airbnb’s director of global multifamily housing partnerships at Airbnb and who joined the San Francisco company in early 2015, is leading the effort.