Airbnb-friendly Apartments (AFA) launched two years ago in partnership with some of the nation’s largest multifamily firms to help renters locate buildings that allow part-time hosting.
Since the launch, over 750 buildings comprising over 200,000 multifamily units across the United States are part of the AFA program. As of the third quarter, over 2,000 renters have earned income in these buildings, with total host earnings surpassing $14 million.
AFA includes 12 of the top 50 National Multifamily Housing Council owners and 14 of the top 50 managers. New partners include Geolo Capital, Roundhouse, and Villa Serena Communities.
Following this success, Airbnb has expanded the AFA program internationally underneath Airbnb-friendly Real Estate, which now also includes Airbnb-friendly Condos (AFC).
“With many renters continuing to find themselves cost burdened, AFA offers a valuable opportunity to earn income through Airbnb while they’re away,” said Jesse Stein, global head of real estate at Airbnb. “The sustained growth of AFA and the interest from partners to expand internationally demonstrate the versatility of this model. I’m excited to see it flourish.”
The AFC program officially launches after effective pilot partnerships with PRM and Related Group, both of which have buildings under construction in Miami that are optimized for Airbnb hosting. According to Airbnb, AFC offers streamlined tools for HOAs and property managers to help facilitate hosting.
“With the tools offered by Airbnb, it made too much sense to extend the ability to host on the platform to our residents, many of whom see the flexibility and investment potential as desired amenities for their condo purchases,” said Russell Galbut, chairman of GFO Investments, an AFC partner that is optimizing Airbnb hosting for the residents of its recently completed Gale property in Miami.
Jim Alderman, former CEO of Radisson Hotel Group Americas, joined Airbnb this summer to lead the AFC program and is working to expand the program internationally to Latin America in 2025.
“Our partners consistently report strong demand for flexible condo living, including the ability to host on Airbnb,” noted Stein. “Given the success of our pilot projects, formalizing the AFC program was the next logical step. We’re excited to build more partnerships with developers nationwide and eventually beyond.”
On the international front, AFA has teamed with founding partner Greystar to bring the program to the United Kingdom, which also has seen elevated rent costs and restrictions that limit short-term letting. With nearly 1,500 units available at Sailmakers in Canary Wharf, Greenford Quay in West London, and Fizzy Walthamstow in East London, renters will have access to the program.
“Given the success of our partnership in the United States, we’re pleased to help introduce AFA to the United Kingdom,” said Maria Hatch, senior director of client relations at Greystar. “It adds financial flexibility for residents, and our community management teams have visibility into hosting activity, which means they can help ensure everything runs smoothly and there is no impact to the wider community.”
