Airbnb will open its 324-unit apartment-building near Walt Disney World Resorts in Florida early next year.
The short-term home rental company recently announced that it is establishing its branded apartments to be called “Niido powered by Airbnb“ in Kissimmee with real property developer Newgard Development Group.
Airbnb said, “residents will have the opportunity to share their units for up to 180 days per year and access a range of tools provided by Niido.”
The tools include a new app that is integrated with Airbnb and supports checking in and assisting guests. Airbnb said they are they are collaborating with Newgard “in new apartment buildings that will be optimized for home sharing and flexible living.”
Under the partnership, Airbnb and Niido “will work together to design new units and buildings that include features like keyless entry and shared common spaces.”
Niido will finance the construction and retain full ownership of the buildings.
Niido tenants, for their part, will sign annual leases and will be allowed to home-share individual rooms or their entire units through Airbnb for up to 180 nights per year. Tenants who share their homes will become part of Airbnb’s Friendly Buildings Program, in which hosts and landlords “share revenues generated from home sharing.”
Niido tenants will have access to the new app fully integrated with Airbnb.
The app will allow tenants to manage guest stays remotely by tapping services provided by a “MasterHost” at each property which will assist guests with items like guest check-in, cleaning and linen service.
Jaja Jackson, Airbnb’s Director of Global Multifamily Housing Partnerships, said: “This partnership shows how landlords, developers, and Airbnb can work together to create value for everyone and better serve tenants.”
Jackson said they are “thrilled” to work with Newgard.
“Together, we’re making it easier for more hosts to share their space, and giving guests access to more affordable options when they travel.”
Jackson told the Financial Times that the partnership with Newgard “is something that philosophically matches with our long-term strategy.”
Newgard CEO Harvey Hernandez said the Niido endeavor “will provide additional income to landlords and tenants while enhancing the experience for Airbnb guests.”
Airbnb said Niido “is expected to bring significant value to all parties.”
“Tenant can earn extra money sharing their spaces and guests who will have access to accommodations that come with amenities and conveniences specifically designed for travelers.”
Airbnb said further that Niido “also has the potential to help tenants who may spend disproportionate amounts of their household incomes on rent.”
The home-rental firm cited as an example the Miami-Fort Lauderdale area where tenants spend 53.1 percent of their household incomes on rent.
Airbnb quoted the figure from the Lincoln Property Company’s 2017 U.S. Rent Forecast.
“As the cost of living increases, apartment renters are under intense financial pressure,” Hernandez said.
Short-term rentals of the Niido complex will be divided as follows: Newgard would get 25 percent, Airbnb-three percent while the rest will go back to the tenant.
Meanwhile, Airbnb plans to build 2,000 branded units or five more apartment buildings in the next two years.
While Niido will be established in the southeastern U.S., Hernandez said they plan to expand outside the region. He mentioned Nashville, Tennessee; Charleston, South Carolina; and cities in Texas as areas where Niido will also be replicated.
DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.
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