Airbnb is launching its own branded apartments in Florida in partnership with real estate developer Newgard Development Group, reports The Financial Times. The apartments will be called “Niido powered by Airbnb,” and the 300-unit building in Kissimmee will be built and owned by Newgard. It’s due to open in 2018, and will feature keyless entry and secure storage options for when tenants are going away and want to rent out their place. Tenants will be allowed to sublet their apartments through Airbnb for up to 180 days each year.
Those renting out their units will be able to manage bookings through an app, and the accommodation would essentially be like a serviced apartment, with a host on site and mandatory cleaning. In terms of the short-term rentals, Newgard would take a 25 percent cut, Airbnb 3 percent, with the rest going back to the tenant.
Airbnb said the project “matches with its longterm strategy,” while Newgard said the company plans to build 2,000 Airbnb branded units over the next two years. It’s currently working with Airbnb on five more apartment complexes, looking for the “right neighborhoods and the right designs,” said Harvey Hernandez, CEO of Newgard. “The demographic that we are targeting are traveling more than ever before,” said Hernandez. “So when that property is empty, they can be making money with it.”