Almost one year after a California judge dismissed Apartment Investment & Management Company’s lawsuit against Airbnb, both companies have agreed to settle all of their disputes.
Aimco, which owns or manages 50,000 properties, had filed lawsuits in both California and Florida state courts, seeking monetary damages as well as court orders to stop Airbnb from enabling people to breach their leases. Aimco’s stated issue with Airbnb was that its platform brings inside their buildings people with “unvetted personal histories” with “no vested interest in maintaining a peaceful community atmosphere.”
In a joint statement today, Aimco and Airbnb announced they had settled all of their disputes, and dismissed all litigation between them.
“The parties believe the settlement is in both sides’ best interests,” they wrote in a joint statement. “Aimco believes that the parties’ agreement provides Aimco with the ability to control short-term rental activity consistent with its contract and property rights. As part of the settlement, Aimco and Airbnb have agreed to meet to discuss opportunities in the multifamily housing industry.”
It’s not clear if there were any financial elements involved in the settlement. Airbnb said it could not share anything beyond the joint statement, with the exception of the following:
“Airbnb is committed to building mutually beneficial partnerships with building owners and landlords through initiatives like our Friendly Building program,” Airbnb spokesperson Christopher Nulty said in a statement to TechCrunch. “We believe that by working together, home sharing can bring economic benefits to both landlords and tenants.”