Does the airbnb business model have a place in apartment buildings?

Culture is key in apartment buildings. A happy community driven by engaging occupants, building managers and great amenities, makes it an attractive place to live. So, what happens when occupants rent their home out on Airbnb? Does it bring a new set of challenges or a fresh buzz of diversity to the building?

 

While Airbnb continues to formalise agreements with some apartment operators around the world, there are others who are adamant that the home sharing service not be introduced to their buildings.

 

AMLI Residential is one such developer. Concerned with the threat of disbanding culture and the current dynamic in their properties, AMLI Residential has forbidden their apartments to be leased through services such as Airbnb. In fact, if their residents list their apartments on Airbnb, their lease is terminated immediately.

 

On the other side of the spectrum, there are industry organisations who believe that a happy medium can be reached. However, Airbnb may need to tighten policies such as improving the candidate qualification and screening process, along with introducing legally binding rental contracts. There are, for example, apartment buildings that lease out an entire floor to Airbnb, creating a buffer of sorts for other residents.

 

With short-term rentals increasing in demand due to the enticing amounts of money that can be made, apartment building owners and developers may need to explore options to make it work for their communities. How do you feel about Airbnb and the home sharing business model for apartment buildings?