Jersey City Urby and Airbnb are teaming up.
Residents of the new Jenga-like tower can now rent out their entire residence (or just a room) for up to 30 days per year using the Airbnb service, announced Ironstate Development.
The move is part of Airbnb’s new initiative — the Friendly Buildings Program — and Jersey City Urby is the first development in the tri-state area to participate in the new plan.
In a nutshell, the collaboration lets Jersey City Urby tenants rent their apartments through Airbnb without penalty. (Airbnb is banned in certain cities like neighboring New York). In exchange, developers — in this case Ironstate — will get a small cut of your Airbnb fee, which will range from 5% to 15%.
As for the Airbnb vacationers, they’ll get complete access to all of Jersey City Urby’s amenities and perks like access to the tower’s pool, gym, communal kitchen, and more.
“Home sharers and landlords don’t have to be at odds,” said Jaja Jackson, Director of Multifamily Housing Partnerships for Airbnb. “We are thrilled that Jersey City Urby will be the first building in the region to participate in a revenue sharing program with Airbnb. Hopefully, this agreement will be a model for other property managers and owners to emulate in all corners of the tri-state area.”
