PHOENIX — Short-term home rentals are a hot button issue for many Valley neighborhoods. Now, home-sharing giant Airbnb is going to start working with some apartment complexes in the Phoenix area to expand opportunities.
Longtime renters like Connor Child said they will entertain the idea of the Friendly Apartments program rolled out by Airbnb.
"I've been renting for 5 years now, so for those times when you’re gone for longer periods, I think it's great," he said.
As someone who heads home for the holidays and often works out of town, Child likes the new option to potentially earn a little extra income.
"It's good to try and cash in during those times, I think it's great and kind of lends itself to people who have more varying schedules," he added.
However, there is some skepticism with the idea of "unit sharing." Kyle Stanley, with “Pursuit Hospitality Management” and also the host of The Fearless Investor, oversees dozens of Airbnb properties in the Valley. He said there are a lot of eyes on the short-term rental game, and it's not just people in need of a place to stay.
"We're already seeing, because of the rise in short-term rentals in Phoenix and Scottsdale, that a lot of people don't want to stay in condos and apartments, but they do want to save money, that doesn't always attract the best tenant," he explained.
"What we're seeing with tenants and rentals is that because they’re trying to save money, they might leave the place a mess because they’re like, I didn’t pay enough money to stay in this place, to treat it like my own anyway," he added.
Which is why Jesse Stein with Airbnb said safeguards are in place to protect existing tenants and any potential renters.
"We go through a verification of all of our guests before they can book in these buildings, so they have peace of mind, and similar checks have been run on the guests like they've been run on the residents in the building who might be your neighbors," Stein said.
A system companies like Greystar will implement as they are partnering with Airbnb to offer the "Friendly Apartments" program at some of their communities.
"Greystar is excited to offer the Airbnb-friendly program at participating communities, which offers residents an option to responsibly monetize their apartment and tap into the economic benefits of hosting. We believe this platform will provide the right tools for both owners and residents to effectively manage short-term rental activity without impacting overall housing supply. We are collaborating with Airbnb on this innovative approach to participate in the 21st century sharing economy in a thoughtful way," a Greystar spokesperson said.
There is a cap between 80-120 nights max to rent a year, that's to protect against investors and money grabbers trolling the housing market. A rule renters like Child completely agree with.
"Maybe you can only rent after you've lived there a certain amount of time things like that, making sure it is beneficial not only to the renter but other people in that complex," he added.
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