From left: Airbnb CEO Brian Chesky, Aimco CEO Terry Considine and Park La Brea (Credit: Getty Images, Aimco, and Wikimedia Commons)
A legal tussle between Airbnb and Aimco over short-term rentals has ended with the two firms agreeing to dismiss all lawsuits between them.
The agreement “provides Aimco with the ability to control short-term rental activity” at its properties in line with its own policies, according to a joint statement by the firms, which was first reported by TechCrunch.
The home-sharing giant and apartment operator have battled it out since February 2017. Aimco, a Denver-based real estate investment trust, sued to hold Airbnb liable for tenants at its buildings renting out their units through the platform, which was in violation of their leases.
Aimco filed suits in California and in Florida. In California, it sued over activity at its Park La Brea complex in Los Angeles. It lost that case in January.
Its suit in Miami carried on, however. A judge ruled in July that Airbnb could be held liable for Aimco’s tenants’ activity on the platform.
The outcome of the lawsuits had widespread implications. Aimco is one of the country’s largest landlords with 184 properties across 22 states. The outcomes of the Florida suit would have set a precedent for future disputes between landlords and Airbnb.
It’s unclear if either party made any payments as part of the settlement, but it appears Aimco and Airbnb plan to turn over a new leaf.
“As part of the settlement, Aimco and Airbnb have agreed to meet to discuss opportunities in the multifamily housing market,” the joint statement said. [TechCrunch] – Dennis Lynch
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