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Aimco Appeals Verdict in Court Battle Against Airbnb

Aimco's Lawsuit Was Dismissed in California Court Earlier This Month
January 26, 2018
Denver-based Apartment Investment and Management Co. (Aimco) today filed an appeal as part of its ongoing effort to stop its units at four southern California properties from being used as short-term rentals via Airbnb.

Aimco (NYSE: AIV) filed a lawsuit in February 2017 after requesting that Airbnb stop booking short-term rentals in its units, which is not allowed in its leases. Airbnb "ignored" those requests, according to a statement from Aimco, leading to the lawsuit, which was filed in U.S. District Court for the Central District of California.

A federal judge in Los Angeles earlier this month dismissed the suit, stating that Airbnb is not an information content provider and therefore not responsible for the information found on its website, which had been Aimco’s main argument.

But Aimco on Friday announced its appeal of that dismissal, saying that the company and its residents want Airbnb to stop participating and profiting from lease violations.

"We are standing up for the rights of our company and our residents who want and expect to live in peaceful, quiet residential communities," said Keith Kimmel, executive vice president of operations of Aimco. "Our residents do not want to live in a de facto hotel for spring-break partiers, vacationers and other unvetted strangers who disturb the peace at all hours, who have caused significant property damage and who pose a safety risk to our residents."

Asked for comment Friday, an Airbnb spokesperson sent the following to CoStar News via email:

"Aimco has only proven one thing: they will do anything they can to punish middle-class families, including filing lawsuits that have already been rejected by a federal judge for having no merit."

Aimco owns 188 apartment communities across the country. Shares of Aimco were trading mostly flat midday Friday at about $42.

Molly Armbrister, Denver Market Reporter  CoStar Group   

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