Airbnb partners with Century 21 to enable Parisians lease their homes

Published on : Wednesday, June 27, 2018

AirbnbAirbnb is seeking new places to list in Paris to ensure a consistent growth ion this part of the world.

 

With an aim to maintain its popularity here this brand has recently announced partnership with Century 21, a real estate in France as per Les Echos and different French media. Airbnb is presently in an awkward position in France.

 

It marks the company’s most essential market but the Mayor’s Office has also been cracking down on illegal listings.

 

Currently Airbnb should ensure that there exists sufficient supply for its userbase.

 

Since December 2017, one needs to register his apartment with the city if they are eager to list it on an online renting platform like Airbnb.

 

This is how Paris would be capable of staying abreast of apartments and check if they comply with the current law. In Paris, one is not able to rent an apartment for over 120 days a year.

 

As a renter it is not possible to rent one’s apartment on Airbnb unless the landlord is fine with it and in majority of circumstances the landlord does not let tenants to sublet.

 

But the issue is that many listings in Paris were sublets. A few days after the new rule was enforced, Paris flagged around 1,000 apartments that were not registered with the city, asking Airbnb to remove those listings.

 

This motivated Airbnb to try something new. In order to incentivize landlords, Airbnb has worked with Century 21 to authorize subletting. When Century 21 finds a new renter, the company will ask landlords if they want to sign a deal with Century 21 and Airbnb to facilitate subletting.

 

If everybody agrees, then renters can keep 70 percent of Airbnb revenue. Landlords get 23 percent of proceeds. Century 21 keeps 7 percent.

 


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