House-hunters might soon turn to Airbnb to find their new place, as the company announces it will offer long-term rentals.
According to the Telegraph, the accommodation network has just pulled in a billion dollars of funding – part of which will go towards adding stays of 28 days and over to its collection of short-term holiday homes.
The ongoing coronavirus outbreak has seriously impacted Airbnb’s business, with the site not currently accepting bookings. Reports suggest the company is worried about hosts leaving the platform in favour of long-term rental sites – such as Zoopla, Right Move and Padmapper – that offer more reliable income.
Airbnb plans to introduce the changes later this week, updating its homepage to show its long-term options. The platform will have to navigate local by-laws however which may impact its the service’s availability in some areas.