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Airbnb – the website that lets people hire out their spare rooms to travellers and holiday makers – has reportedly asked McKinsey & Company to conduct market research into the long-term rental market, suggesting the business may be looking into new area for growth. Although the website has a facility enabling members to rent their apartments by the month rather than by the day or week, it’s currently under promoted. Because expanding into the long-term rental market would require Airbnb to establish rules for renters to pay for things like utilities and recurring service fees, it's thought this is the reason McKinsey is looking into it. The management consulting firm has declined to comment just yet, but it is expected the firm will present its findings to the website’s executives later this month.

See: The Real Deal

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