A Kissimmee apartment complex will be the first residential rental concept designed to encourage home sharing.
Airbnb, the world’s leading hospitality company has teamed up with Miami-based Newgard Development Group to collaborate on the flexible living project.
The first project, a 324-unit building in Kissimmee will be branded as “Niido Powered by Airbnb.” It is slated to open next year and rents will range from $1,300 to $2,000 a month, said Ben Breit, a spokesman for Airbnb.
Residents can share their units for up to 180 days per year and access tools provided by Niido, including an app that is integrated with Airbnb. The app will enable tenants to manage guest stays remotely by triggering services provided by a “MasterHost” at each property that will assist with items like guest check-in, cleaning and linen service.
The project is considered the first of its kind in the Southeastern United States.
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 tenants will sign annual leases and will be permitted to homeshare individual rooms or their entire units through Airbnb. 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.
“This partnership shows how landlords, developers and Airbnb can work together to create value for everyone and better serve tenants,” said Jaja Jackson, Airbnb’s director of global multifamily housing partnerships. “Together, we’re making it easier for more hosts to share their space, and giving guests access to more affordable options when they travel.”
The apartments allow tenants to earn extra money and guests 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. The forecast did not give a figure for the Metropolitan Orlando area.
Newguard CEO Harvey Hernandez said Niido will help renters with the high cost of apartment living.
“As the cost of living increases, apartment renters are under intense financial pressure,” Hernandez said. “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.”