by Scott Sowers
Airbnb’s legacy of market disruption has moved from privately owned homes into multifamily buildings as the legal lines of leasing continue to be stretched into new configurations. In November 2022, Airbnb announced the launch of Airbnb-friendly apartments, a program that allows renters to sublease their units with the proceeds being split three ways between the resident, owner-operator and Airbnb.
Airbnb has also recently teamed up with Sentral, an owner-operator firm that specializes in short-term rentals. Sentral’s investors include the Bozzuto Group, Highgate Hotels LP and Iconiq Capital. Sentral controls about 3,000 furnished and unfurnished units in several U.S. markets that are participating in the program including Los Angeles, Atlanta, Denver, Miami and Scottsdale, Ariz.
“The partnership is fueled by renters who are seeking more flexible leasing options,” said Lisa Yeh, COO with Sentral. “According to Airbnb, over a three-month period, renters who hosted in Airbnb-friendly apartment buildings hosted on average nine nights per month and earned on average $900 per month.”
Read Scott Sowers’ article in UNITS.