Cleaning fee not included… Airbnb has teamed up with building owners across the US to boost the number of rentable rooms on its platform. Airbnb did the legwork in 25 markets and found property owners who’ll allow their tenants to list on Airbnb, sublease-style.
There's no place like home… if you can afford one. Homeownership has become even more inaccessible, especially after mortgage rates soared. Last year, over a third of US households were renters. But renting is no bargain, either: while rent prices have been cooling this year, they’re still up 7.5% from last year. The prospect of earning extra income through Airbnb rentals could be welcomed by tenants — and help ease the financial anxiety of committing to one place for a year (especially when the economy’s so up in the air).
Demand can follow supply… and Airbnb has an apartment-supply problem. As of October, apartments accounted for only 14% of Airbnb's listings — down 5% from 2019. According to Airbnb, that’s partly because of landlords' opposition to short-term rentals (think: anti-Airbnb rules). Now Airbnb’s looking to get landlords on board. The hope: more Airbnb-friendly apartments = more listings = more bookings. But there's a catch: research shows that the presence of short-term rentals in a neighborhood contributes to rising rents.