Airbnb and Century 21 sign sublet agreement in Paris
Homeowners and renters in Paris and beyond look set to profit from a new subletting partnership trial signed between home-sharing website Airbnb and estate agent Century 21.
The US home-sharing giant it has signed an agreement with the French estate agent group in a bid to 鈥渟implify and facilitate the subletting of housing鈥�.
It is said to be the first collaboration of its kind in the world.
The agreement will establish a fixed allocation of revenue from the rental: 70% to the renter, 23% to the owner, and 7% to Century 21, who will manage the administrative work.
Renters will be required to get permission from the property owner to take part.
The scheme has that it will 鈥渢ake care that renters will not be able to exploit the 120-day per year legal limit鈥� per property, which has been imposed on Airbnb in Paris.
The collaboration will first be tested in Paris, and - should it be successful - expects to spread to major towns across France.
It is the latest initiative to hit the Airbnb economy in Paris, which some see as controversial and facilitating the alleged illegal renting of furnished properties across the capital.
Ian Brossat, Paris deputy mayor, : 鈥淭he mayor of Paris [Anne Hidalgo] has no hostility towards the principle of this鈥�, on condition that 鈥渘ecessary鈥� conditions be met.
He added: 鈥淚 will be extremely vigilant [to be sure that this subletting agreement] does not cause a problem to the Parisian estate agency market.鈥�
Mr Brossat also specified that 鈥渢his should not lead to an increase in rents鈥�, with the risk set to be tempered by a return in Paris to 鈥渞ent control鈥�, which the mayoral office is seeking to 鈥渞eactive as of this autumn鈥�, he said.
