Airbnb, FL Developer Roll Out Home-Sharing Plan
Newgard Development Group is working with the home-sharing company to form Niido, which will own a 324-unit apartment building in Kissimmee, Fla. Residents can share their units and access various tools, including a new app that supports checking in and assisting guests.
By D.C. Stribling, Contributing Editor
Airbnb and Miami-based Newgard Development Group are collaborating to establish Niido, which will own a 324-unit apartment building in Kissimmee, Fla., branded as “Niido Powered by Airbnb.” Residents will have the opportunity to share their units and access various tools, including a new app integrated with Airbnb that supports checking in and assisting guests.
The project is the first in a series of developments by Newgard that will support home sharing in communities in the Southeastern United States. Under the partnership, Airbnb and Niido will design new buildings with features such as keyless entry and shared common spaces. Niido will support the costs of construction and retain full ownership of the buildings.
How it works
Niido residents will sign annual leases and will be permitted to homeshare individual rooms or their entire units residents Airbnb for up to 180 nights per year. Residents 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.
“The Niido model will provide additional income to landlords and tenants while enhancing the experience for Airbnb guests,” Newgard CEO Harvey Hernandez said. “Niido eliminates barriers by encouraging home sharing.”
The partnership also has the potential to help residents who may spend disproportionate amounts of their household incomes on rent, Hernandez noted. For example, in the Miami-Fort Lauderdale metro, tenants spend an average of 53.1 percent of their household incomes on rent, according to Lincoln Property Co.’s 2017 U.S. Rent Forecast.
