Real estate comes with a built-in rental option in the on-demand economy. Airbnb inaugurated its first apartment building project in Orlando last week. Residents can rent their apartment almost half of the year. Many municipalities are considering allowing similar developments, all with significant limitations on rental usage to preserve the character of residential neighborhoods.
The 324-unit building was announced last Thursday as part of Airbnb’s new partnership with Miami’s Newgard Development Group and will be known as “Niido Powered by Airbnb.” Upon signing an annual lease, all residents will be able to rent out their apartments through Airbnb for up to 180 nights per year.