Le Lézard
Classified in: Tourism and vacations, Business
Subject: ATY

Aimco Asks Court to Halt Airbnb Activity Pending a Final Ruling on Lawsuit to Bar Illegal Subleasing of Apartments


DENVER, Oct. 18, 2017 /PRNewswire/ -- Apartment Investment and Management Company (Aimco) and four of its subsidiaries today filed a motion for a preliminary injunction in the U.S. District Court in the Central District of California to halt Airbnb's brokering of short-term rental transactions at four of Aimco's Southern California properties. This action seeks to alleviate the irreparable harm to those apartment communities and their residents caused by Airbnb's transactions pending the final ruling on Aimco's lawsuit to prohibit Airbnb's participation in the unauthorized subletting of Aimco's apartment homes and repeated abuse of Aimco's private property rights.

Aimco logo. (PRNewsFoto/Aimco) (PRNewsFoto/)

Key arguments in Aimco's motion include:

"The most important responsibility we have as owners and operators of apartment homes is to create a community of residents who are invested in being good neighbors," said Aimco Executive Vice President of Operations Keith Kimmel. "That is why Aimco has made the deliberate choice to expressly prohibit short-term rentals to transient, unaccountable Airbnb users and other travelers who have not undergone our background screening and who are more apt to treat our apartments like hotel rooms rather than homes."

Kimmel added, "If other property owners decide it is worthwhile to do business with Airbnb, that is their right. However, Aimco and other concerned property owners are entitled to their right not to participate in this subletting activity. It is astounding to us that Airbnb blatantly ignores and disrespects our rights as property owners, contracts with some of our residents to breach their leases, and knowingly interferes with, and directly profits from, the contractual agreements we have with our residents." 

Aimco filed initial lawsuits against Airbnb in February in Florida and California. The continued proliferation of Airbnb's activities that result in illicit subletting of apartments, the many concerns expressed by Aimco full-time residents, and the undue business burden placed on Aimco's onsite community teams have motivated the company to pursue a more aggressive legal strategy.

Aimco is one of the country's largest owners and operators of apartments with 188 communities in 22 states and the District of Columbia. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500. For more information about Aimco, please visit our website at www.aimco.com

 

SOURCE Aimco


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