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Sublease: Airbnb and Century 21 sign a common agreement
The real estate group Century 21 and the US company Airbnb have signed a historic partnership to facilitate access to the sublease in Paris.
How does the partnership work?
In practice, any owner or tenant with a lease in a Century 21 agency is able to apply for a "compatible Airbnb" lease. This authorizes the subletting of the housing for a period of 120 days per year.
Everyone will have their share of the action and the revenues are distributed in a fair way to all:
- 23% for the owner who agrees
- 7% at Century 21, which deals with administrative matters
- 70% for the tenant who takes charge of the management of the ad, indicates its price and availability on the Airbnb site.
According to Emmanuel Marill, director of Airbnb France in an interview with AFP: "This is the first time we have a partnership of this magnitude with a real estate agent, including in the rest of the world". The world of real estate is turned upside down with this initiative of a new kind!
A system to fight against illegal practices
Following the many controversies between Airbnb and the city of Paris last year, this lease is for the US group an opportunity to operate in compliance with French and Paris legislation. Indeed, the City of Paris requires that lessors come to the authorities to avoid abusive or illegal subletting and check if they have a registration number.