Airbnb Partners with Century 21 Paris to Bypass Regulations
By Alexander Reed @ Real Estate Daily
July 10, 2018

Airbnb has an increasingly strained relationship with landlords and cities. Flustered landlords are complaining about a massive influx of unregulated short-term rentals. They cite issues like noise violations and unsafe conditions for other tenants.

Now, Airbnb is partnering with Century 21 in Paris to test an agreement that allows renters to sublet their apartment on Airbnb officially. The new agreement lets renters sublet up to 120 days per year, but gives a cut to the landlord and Century 21.

Key Takeaways

  • Airbnb is partnering with Century 21 Paris to work with landlords and promote short-term rentals
  • Under the new agreement, the landlord and Century 21 get a cut of 23% and 7% respectively
  • The partnership is only available in Paris but could expand to other major cities depending on its success

Excerpt

Many apartment landlords struggle against Airbnb, which they say encourages tenants to break their lease through subletting, creating unsafe conditions for other tenants. Some major U.S. landlords even announced their intent to file a lawsuit against Airbnb early last year.

But now, Airbnb announced it is partnering with Century 21, at least in one European city, to try to work with landlords to keep its short-term rentals alive.

In Paris, regulations are especially strong against Airbnb, but the city is also one of the company’s most popular short-term rental destinations. Airbnb turned to the real estate industry for help.

Now, under the new agreement, landlords can allow renters to sublet their apartment on Airbnb, and the landlord and Century 21 will get a cut of 23% and 7% respectively.

“The goal is to make it easier to sublet so hosts can welcome guests up to 120 days per year on Airbnb,” Airbnb stated. “A win-win deal as tenants, landlords and the agency all share the income when a booking is made on Airbnb.”

“With the Airbnb-friendly lease, subletting will be much better supervised,” the company continued.

View the original article at Housing Wire