A new joint venture called Niido has been formed by Miami-based Newgard Development Group and Airbnb. The new company will own and manage a 324-unit apartment building, Niido Powered by Airbnb, in Kissimmee, FL. 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. It’s the first of what’s expected to be a series of developments by Newgard that will support home sharing in communities in the Southeastern United States. The firm will design projects that features conveyances such as keyless entry and shared common spaces. Niido will support the costs of construction and retain full ownership of the buildings.
Niido residents will sign annual leases and will be permitted to homeshare individual rooms or their entire units. 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. Niido would allow renters to make income by leasing out their unit on Airbnb for up to 180 days per year. Any money earned would be shared between the renter and Niido “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.”
