Landlord Offers Incentives For Residents Who Own AirBNBs
DENVER (CBS4) – Skyrocketing rent costs in the Denver have forced many to explore alternative income options to cover increasing living costs.
Most apartment complexes across the Denver metro area do not allow tenants to sublease units for short-term rentals, like Airbnb. Tenants are often required to sign lease agreements, which make systems like Airbnb unlawful.
However, Denver's Archer Tower told CBS4 they hoped to change that policy with their tenants, by teaming up with the company Pillow.
As part of the partnership, Archer Tower received incentives from Pillow in exchange for allowing residents to rent their units on Airbnb. To encourage residents to sign up for Pillow's services, tenants who promise to post their units online at least 10 days a month, are given a discount on their rent.
"Any extra money I can get, I will gladly take it," said Alex Pavone, an Archer Tower resident who has considered signing up for the program.
Archer Tower's Craigslist ad advertised the reduced rates available for those interested in signing up. The tower even has its own unit which it rents out via Airbnb.
With residents going through Pillow, it also allowed Archer Tower staff to monitor who is renting the units each night from their regular tenants.
Pavone said it was nice to have the option, especially why he chose to travel out of town.
"That is just empty space, that somebody else can use," Pavone said. "And, we can use to pay the rent."
However, the idea of renting to strangers did not sit well with some.
"Even if I put on my (Airbnb) profile 'no drugs, no alcohol,' I don't know if people would listen," said Louise Burton, a resident. "A few extra hundred dollars a month off my rent isn't worth something happening."
The program is optional for residents.
Denver law required those who use Airbnb, and other rental companies, to have the license to do so. Law also required those interested in renting their units to use the specific property as their primary residence.
Below is an interactive map, which shows current properties listed by the City of Denver as legal rental units.
Dillon Thomas is a reporter at CBS4 and a Colorado native. He believes everyone has a story, and would love to share yours! You can find more of his stories by following him on Twitter, @DillonMThomas.