With this partnership, Airbnb is officially positioning itself as a conduit for longer-term tenants interested in leveraging Airbnb to sublet their homes for up to 120 days each year.
This follows the company’s recent policy change, which stipulated that Airbnb hosts in Paris would be limited to renting their homes out for a maximum of four months out of the year.
In terms of how it works, well, any contract that has been signed with a Century 21 property is eligible for one of Airbnb’s new sublet leases, which provides a set revenue share between the landlord, tenant, and agency. This works out at 70 percent for the tenant, 23 percent for the owner, and 7 percent for Century 21.
So the process automatically requires the owner’s permission, which is why Airbnb is calling this a “win-win” deal. Tenants can disappear for a few months safe in the knowledge that their rent is covered, while their landlord is kept happy with the promise of potentially higher earnings.
Get the full story at VentureBeat