Airbnb is building its own apartment complex in Kissimmee

Henrietta Strickland
October 12, 2017

Miami-based Newgard Development Group is partnering with Airbnb on the first Airbnb-branded apartment building in the US, according to Bloomberg.

The Airbnb-branded building fits into a long-term strategy to win over real-estate developers and facility-management companies that have been resistant to allowing Airbnb rentals.

An Airbnb apartment building is coming to life near Disney World. "We're trying to make sure that home-sharing is not done in the shadows", he said. "This partnership shows how landlords, developers and Airbnb can work together". Critics of the startup argue that its services turn otherwise rentable apartments into unofficial hotels, thereby eliminating affordable housing.

To quell criticism, Airbnb began offering large building management companies a share of hosts' revenue a year ago. The profit-share agreement is created to encourage landlords to commit to allowing tenants to use Airbnb without repercussions.

A joint statement from Newgard and Airbnb describes the leasing situation as tenants having the opportunity to sign leases to rent units or rooms for up to 180 nights a year, with revenues accrued from renting the units out being shared with the landlords of the property. Of course, Niido takes a cut of your Airbnb earnings but also provides extra services to renters and travelers, like keyless entry and something called a "MasterHost", who can be called via an app to assist with anything that comes up during a stay.

Airbnb will lend its name and design assistance but won't have any ownership interest. While no exact date or location has been announced, Niido says they plan to open the complex sometime in the first quarter of 2018.

Other reports by Click Lancashire

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