Airbnb is opening its very own apartment building (that sounds a lot like a hotel)
Airbnb would like to sell you a time share in Florida. Yes, really.
The home-rental company is working in partnership with a property developer on a branded 300-unit rental complex in Kissimmee, Florida that will bear a new name: “Niido powered by Airbnb.” The apartment building will come with extra services to help you rent out your apartment on Airbnb for up to half the year.
“This is something that philosophically matches with our long-term strategy,” Airbnb’s head of multi-family housing projects, Jaja Jackson, told the Financial Times.
The complex will be built in partnership with Newgard Development Group, a property developer in Florida that will actually build and own the apartment building. Airbnb is slapping its name on the project.
The developer told the Financial Times that it plans to build 2,000 Airbnb-branded units in the next two years, or about five more buildings. Airbnb is focusing on the Southeast for its time share-adjacent complexes.
“Niido powered by Airbnb” tenants sign annual leases and then can list them on Airbnb for up to 180 days a year. The apartment complex comes with extra hotel-like features that make renting out apartments through Airbnb easier.
Like a hotel, the building will offer short-term rental-friendly features like a cleaning service, keyless doors and in-room secure storage. A “master host”—or hotel concierge?—will be on site at the building. Tenants even get their own app tailored to this kind of landlord-supported Airbnb rental.
When the apartments are listed on Airbnb, the property developer gets 25 percent, Airbnb gets 3 percent, and tenants get the remaining 72 percent.
The Florida apartment building/time share is set to open in early 2018.