Amid a turbulent global economy that has resulted in a "disproportionate" rise in single-room listings on its platform, as more people sought extra income, Airbnb has launched a listing service that will allow American renters to host apartments.
The move comes at a time when people are looking to earn additional income as higher food, transportation and housing expenses continue to squeeze household budgets, deepening the cost-of-living crisis in the country.
Airbnb said the service, will make it easier for people who plan to sublease their unit for part of the year to find an apartment where they are allowed to do so. And by giving landlords another way to market Airbnb-friendly homes, the company hopes to entice more of them to allow short-term rentals which are often shunned.
"As the cost of living continues to rise, renters can use the extra income earned by hosting part-time on Airbnb to contribute to their rent, save for a home, or pay for other living expenses," Airbnb co-founder Nathan Blecharzyck said.
Landlords who partner with the new listing service will get a cut of up to 20% of the total booking revenue from the Airbnb sublets, the report stated.
Airbnb's new partners include more than 175 buildings operated by Equity Residential, Greystar, Sentral and 10 other companies. Prospective renters can browse Airbnb-friendly apartments on Airbnb's website.
Airbnb, a listing platform for rental apartments has an inventory of more than 175 host-friendly apartment buildings in more than 25 markets across the U.S., according to company data. Renters can list an empty room on the site or rent out their entire apartment while they are away.