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Coming (Maybe) to a Neighborhood Near You: Niido Powered by Airbnb
Home rental agency Airbnb teamed up with developer Niido to operate apartment complexes dedicated to long-term renters and short-term visitors. Operating under the brand Niido Powered by Airbnb, the duo recently took over the 328-unit Olmsted apartments in downtown Nashville, TN, and announced it is planning for as many as 14 hybrid home-sharing/apartment complexes by 2020.
Here’s how this hybrid works. Under Niido’s ownership, long-term Olmsted renters are encouraged to sublet their units to Airbnb travelers for a maximum 180 days in a given year. Airbnb and Niido take 25% of the income generated from home-sharing activities. Remaining vacant units are rented through Airbnb’s short-term stay platform.
The Olmsted is the second hybrid-branded effort by Airbnb and Niido. The Domain in Kissimmee, FL, was the first to become a home-sharing/long-term rental complex.
Not everyone is happy about the effort, however. Angered residents in Kissimmee complained they never agreed to living in a hotel when the Domain was converted. Olmsted residents aren’t thrilled with their building becoming an Airbnb complex, either, and are vowing to fight back. Niido’s response is that it’s focused on “building robust and satisfied communities in Nashville and Kissimmee.”
Pictured: The Olmsted, Nashville
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