The $billion+ home-sharing juggernaut, Airbnb, announced this week that they are teaming up with a Miami-based developer to build apartments that can be shared up to half the year. The development, titled “Niido Powered by Airbnb” will be located in Kissimmee, Florida, just minutes away from the Walt Disney World Resort, which is presumably not a coincidence.
Here is the full release from Airbnb announcing the new Disney World area apartment project (source):
Airbnb, Niido to Partner to Support Home Sharing in Apartments
Airbnb, the world’s leading hospitality company, and Miami-based Newgard Development Group today announced that they are collaborating to support home sharing in new apartment buildings that will be optimized for home sharing and flexible living. The first project, a 324 unit building in Kissimmee, Florida, will be branded as “Niido Powered by Airbnb.” 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, including a new app that is integrated with Airbnb and supports checking in and assisting guests.
The project is considered the first in a series of developments by Newgard that will support home sharing in communities across the Southeastern United States. 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 that make them optimal for home sharing. Niido will fully support the costs of construction and retain full ownership of the buildings.
- Niido tenants will sign annual leases and will be permitted to homeshare individual rooms or their entire units through Airbnb for up to 180 nights per year. Tenants who choose to share their homes will be part of Airbnb’s Friendly Buildings Program, in which hosts and landlords share revenues generated from home sharing.
- Niido tenants will have access to a new app fully integrated with Airbnb. The App will enable tenants to manage guest stays remotely by triggering services provided by a “MasterHost” at each property who will assist with items like guest check-in, cleaning and linen service.
Said Newgard CEO Harvey Hernandez, a noted real estate developer and entrepreneur: “The Niido model will provide additional income to landlords and tenants while enhancing the experience for Airbnb guests. Niido eliminates barriers by encouraging home sharing and creating solutions that work for everyone.”
“This venture represents the first co-branded, all-inclusive partnership with Airbnb. We are excited to bring Niido to the world and introduce a new experience that is fun, social, convenient, transparent, connected, and valuable for Tenant Hosts, Airbnb guests and landlords alike.”
Niido is expected to bring significant value to all parties, including tenants who can earn extra money sharing their spaces and guests who will have access to unique listings that come with a set of amenities and conveniences specifically designed for travelers.
The partnership also has the potential to help tenants who may spend disproportionate amounts of their household incomes on rent. For example, in the Miami-Fort Lauderdale metro, tenants are spending 53.1 percent of their household incomes on rent, according to Lincoln Property Company’s 2017 U.S. Rent Forecast.
“As the cost of living increases, apartment renters are under intense financial pressure,” Hernandez added. “Together with Airbnb, Niido’s unique multifamily home-sharing model provides a powerful solution to this ongoing problem by delivering extra income for tenants while creating enhanced experiences for their guests.”