Apartment Investment & Management Company (Aimco) said it's suing online short-term real estate rental company Airbnb for "illicit subletting" of apartments.
The Denver company (NYSE: AIV) filed suit in California and Florida, claiming Airbnb assists "Aimco tenants to breach their leases in order to sublet their apartments."
"Those assisted by Airbnb to use Aimco property in violation of the Aimco lease are trespassers, with unvetted personal histories, and no vested interest in maintaining a peaceful community atmosphere," Aimco claims.
Aimco, one of the nation’s largest owners and operators of apartments, says short-term rentals of its apartments through Airbnb "are expressly prohibited by Aimco's lease agreements" and added "transient Airbnb clients have posed safety and quality of life concerns for Aimco's full-time residents."
Read more at the Denver Business Journal: http://bit.ly/2lr2xGi