PORTLAND, Ore. (KOIN) — Airbnb recently announced a program that will allow more renters to earn additional income by becoming Airbnb hosts at apartments in their respective cities. In Portland, there are three buildings partnering with the website.
The program, called “Airbnb‑friendly apartments” was launched on Wednesday morning. About 200 apartment buildings in over 25 cities across the U.S. are participating and giving people the opportunity to rent out their spaces part-time.
“Airbnb-friendly apartments unlock the economic benefits of hosting to help renters cover the rising cost of living,” the platform said in a news release. “We believe cities can help renters better afford where they live by supporting Airbnb-friendly apartments and embracing policies that allow renters to share their space.”
Reportedly, renters who tried the new program over a three-month period earned an average of $900 per month after hosting for an average of just nine nights per month.
Here are the three participating apartment buildings in Portland, as well as Airbnb’s estimates for their earning potential; Airbnb determines potential earnings by looking at the past 12 months of booking history for similar listings.
Sawbuck
- Location: 1725 SW Salmon St.
- Starting monthly rent for one-bedroom: $1680
- Potential earnings for a month for one-bedroom: $630
Indigo
- Location: 430 SW 13th Ave.
- Starting monthly rent for one-bedroom: $1797
- Potential earnings for a month for one-bedroom: $843
Enso
- Location: 1400 NW Marshall St.
- Starting monthly rent for one-bedroom: $1530
- Potential earnings for a month for one-bedroom: $916
Renters who take part in the program would receive their earnings through their Airbnb account, rather than paying it directly to their building owners as rent.
Furthermore, building owners can establish their own community rules to prevent new tenants from disturbing the peace. Hosts can set rules for guest behavior as well, on top of Airbnb’s pre-existing no-party policy.
Apartment buildings in other markets such as Seattle, San Francisco, Denver, Miami, Atlanta and Houston are also partnering with Airbnb.
Portland in particular ranked high on the list of U.S. cities with new apartments and high on the list of not-so-affordable cities. Airbnb Co-founder and Chief Strategy Officer Nathan Blecharzyck says this new program could further support renters adjusting to the cost of living.
“Airbnb was founded during the Great Recession when Brian and Joe needed help affording their rent, and now Airbnb-friendly apartments build on that founding story by making it easier for people to reap the economic benefits of hosting,” Blecharzyck said in the release. “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.”