'We believe this platform will provide the right tools for both owners and residents to effectively manage short-term rental activity without impacting overall housing supply,' a Greystar representative said. They can also mandate a government ID from all potential subletters.Įquity Residential and UDR, which are apartment real estate investment trusts, or REITs, and Greystar, the largest apartment management company in the U.S., are among the major names offering apartments with hosting privileges on the new Airbnb platform. The apartment building owner or management company also have the right to review the listings before they go live and deactivate a listing if it does not comply with the building's standards. The restrictions, which can be enforced since the transactions all take place on the portal, are intended to prevent investors from taking part and subletting the apartments full-time. That's generally between 80 and 120 nights per year. For those buildings that have been in test mode so far, Airbnb said tenants have hosted an average of nine nights per month with an average income of $900 per month.Īll hosts in the participating buildings must be the primary resident, and the buildings can restrict how many nights per month the apartment can be sublet. The calculation changes depending on the number of bedrooms and the number of nights each building allows, as well as the potential asking rents, given the building's amenities.Īpartment buildings can also charge the primary tenant a fee of up to 20% of the price of each Airbnb use. The new page on Airbnb's website will also offer a calculator to show how much money the tenant can potentially make per month.

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