Airbnb launches service allowing American renters to host apartments

Airbnb Inc (ABNB.O) said on Wednesday it is introducing a new listing service in the United States that will help renters find an apartment where they can host part-time.

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.

“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.

The short-term rental firm has partnered with more than 175 buildings in 25+ cities across the United States, the company said in a blogpost.

The latest service will feature buildings managed by Equity Residential, Greystar Real Estate Partners LLC and 10 other companies, the Wall Street Journal reported on Wednesday, citing the company.

Airbnb did not immediately respond to a Reuters request for comment on the tie-ups.

Landlords who partner with the new listing service will get a share of the total booking revenue from Airbnb sublets – 20% in most cases, the WSJ report added.

Renters have hosted on average nine nights per month and earned on average $900, Airbnb said.

Earlier this month, the company said it had recorded a “disproportionate” 31% rise in single-room listings on its platform in the third quarter, as more people sought extra income.