11:52 AM EST, 11/25/2024 (MT Newswires) -- Airbnb ( ABNB ) launched its Airbnb ( ABNB )-friendly apartments program in London effective Monday, allowing tenants in nearly 1,500 flats owned by Greystar to sublet their homes part-time, the Financial Times reported Monday.

The program, introduced in 2022 in partnership with rental companies, connects renters with landlords who permit subletting, offering tenants a way to offset costs amid rising living expenses, according to the Financial Times.

Airbnb ( ABNB ) said it is in talks with additional landlords to expand the initiative across the UK, aiming to address criticism that short-term rentals drive housing shortages and higher rents, the report said.

Tenants will share 10% to 25% of sublet earnings with landlords under agreed hosting rules, the report added.

Airbnb ( ABNB ) did not immediately respond to MT Newswires' request for comment.

Shares of the company were up 1.7% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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