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Airbnb and Newgard partner to create new apartment in Florida

Airbnb is an up-and-coming service that allows homeowners and renters to lease out their homes on a short-term basis to vacationers. Many people in Florida have found it useful, both as travelers looking for an affordable place to stay, as well as homeowners and renters looking to earn some extra money. Now, the Financial Times is reporting that Newgard Development Group, which is a real estate developer in Florida, is partnering with Airbnb to launch apartments in the state.

The building will be located in Kissimmee, Florida, and will contain 300 units. It will be known as "Niido powered by Airbnb." It is set to open next year and some features that will be highlighted include secured storage areas and keyless entries. Apartment tenants will be permitted to use Airbnb to sublet their units for as many as 180 days annually.

An app will be made available for tenants to manage their sublets. There will be an on-site host and rules regarding cleaning requirements. As far as what a tenant will earn subletting in one of these apartments, Airbnb will take 3 percent, Newgard will take 25 percent, and the tenant will keep the rest.

This is an interesting development in the world of residential real estate. Many people travel to and from Florida for vacations, business and other purposes. Moreover, homeowners and renters in the state may have times when they are not using their residences and would like to sublet them. While it remains to be seen how successful this new partnership between Newgard and Airbnb will be, it could provide a means for many Floridians to have an easier time subletting their place if they wish.

Source: The Verge, "Airbnb will open its own branded apartment building in Florida next year," Thuy Ong, Oct. 13, 2017

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