Airbnb has teamed up with global landlord Greystar to allow tenants in three London apartment blocks to rent out their homes.

It has launched its Airbnb-friendly apartments initiative in the UK which links potential renters with landlords who are willing to allow tenants to act as hosts for a limited time when they are not using their property, reports The FT.

Tenants in nearly 1,500 flats can sign a contract with their landlord, establishing hosting rules such as limits on the number of nights that the property can be let out, and must agree to share 10%-25% of the revenue with Greystar.

After a successful launch in the US, Airbnb is now “actively discussing” with more landlords about joining the platform and extending the concept to other parts of the UK.

No secret

“It’s no secret that a lot of tenancy agreements say ‘do not sublet’ [so] unfortunately, renters have had a challenge historically to become Airbnb hosts,” says Jesse Stein (pictured), global head of real estate for Airbnb.

“Landlords taking part in the programme were happy as long as they could “ensure that [the flats] are people’s primary homes.”

In addition to countering criticism that the surge in the number of properties used for short-term rentals is pricing out locals, especially young people, the concept allows renters who have been hit by a cost-of-living crisis to offset some of their costs. It comes amid mounting criticism that the company and rivals such as Vrbo and Booking.com are driving up rents and housing costs around the world.

In another UK initiative, Airbnb and Waltham Forest are partnering in a trial scheme to inspire more residents in the borough to occasionally host in their homes. Waltham Forest will be promoted as a suggested destination via a dedicated landing page on Airbnb’s website, while the partnership aims to help families generate extra income and strengthen the local economy and local businesses by attracting more visitors.