Tenants can now rent out their apartments via Airbnb in Durham, Raleigh
As inflation soars, cash-strapped renters may have a new option to cover rising costs of living: Airbnb.
The short-term rental platform has rolled out its new “Airbnb-friendly” apartment program across 25-plus cities, including Raleigh and Durham. For tenants whose landlords agree to participate, it allows them to rent out a spare room, or even their entire apartment, while they’re away.
Based on Airbnb’s estimates, tenants could earn on average $878 for a week. That’s after paying the Airbnb Host service fee and the property management firm’s cut.
Three of property management firm Greystar’s properties — The Marlowe Lake Boone and Columns at Wakefield, both in Raleigh, and Avana on Broad in Durham — are participating in the program. They are currently the only properties available in the region.
“It’s a great idea,” said Kristian Lamb, 22, who lives in one of The Marlowe’s three-bedroom apartments with roommates. She works at the local Rise Biscuits and Donuts.
“If I have someone renting my room, then I get that extra money to pay rent and help me fly home to see my family in Arizona. It makes a difference,” she said in an interview just outside her building.
She said she wouldn’t mind if her roommates did the same, potentially forcing her to live with a stranger for a week. “That’s how it was when I moved in with them. I didn’t really know them,” she said. “Then we become like best friends. It’d be nice just to interact with new people, and kind of just get to know them.”
Others aren’t as keen. “For me, personally, it’s not something I would do,” said Jerry Lazo, 29, who lives in the same complex, a few buildings down. “I don’t feel comfortable with people living in my comfortable space. Even though I’m renting, it’s still my home.”
In total, 175 properties around the country are taking part. Airbnb said it plans to expand the program and has already started a wait list to add cities to its lineup.
Airbnb said revenue share varies by building, but most partner buildings take between 20% and 25% of a host’s booking amount. Airbnb typically collects a flat service fee of 3% of the reservation subtotal.
Tenants must also comply with the City of Raleigh’s short-term rental regulations.
“Residents generally sign a lease addendum with their building manager that outlines specific rules for hosting, such as a limit on the nights they can host,” Airbnb spokesperson Samuel Randall said in an email. “Hosts also agree to share some information about their hosting activity with their building manager.”
For years, short-term rentals remained in legal limbo in Raleigh until the City Council approved new rules in 2021. Those regulations require short-term rental owners to have a city permit, ban exterior advertising and special events, and prohibit gatherings at the homes.
Multi-unit complexes are also limited to no more than 25%, or two dwelling units, to be used for short-term rental in any single building at a time.
Raleigh Mayor Mary-Ann Baldwin did not return requests by email and phone for comment.
As rents remain high and housing inventory low, a Greystar spokesperson said the program provided the “right tools” for both owners and residents to effectively manage short-term rental activity “without impacting overall housing supply.”
