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We are an independent publisher. Our reporters create honest, accurate, and objective content to help you make decisions. To support our work, we are paid for providing advertising services. Many, but not all, of the offers and clickable hyperlinks (such as a “Next” button) that appear on this site are from companies that compensate us. The compensation we receive and other factors, such as your location, may impact what ads and links appear on our site, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, our site does not include information about every product or service that may be available to you. We strive to keep our information accurate and up-to-date, but some information may not be current. So, your actual offer terms from an advertiser may be different than the offer terms on this site. And the advertised offers may be subject to additional terms and conditions of the advertiser. All information is presented without any warranty or guarantee to you.

This page may include: credit card ads that we may be paid for (“advertiser listing”); and general information about credit card products (“editorial content”). Many, but not all, of the offers and clickable hyperlinks (such as a “Apply Now” button or “Learn More” button) that appear on this site are from companies that compensate us. When you click on that hyperlink or button, you may be directed to the credit card issuer’s website where you can review the terms and conditions for your selected offer. Each advertiser is responsible for the accuracy and availability of its ad offer details, but we attempt to verify those offer details. We have partnerships with advertisers such as Brex, Capital One, Chase, Citi, Wells Fargo and Discover. We also include editorial content to educate consumers about financial products and services. Some of that content may also contain ads, including links to advertisers’ sites, and we may be paid on those ads or links.

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Apartment Owner Converting ENTIRE 328-Unit Building to Airbnb-Branded Complex

August 25, 2018 By Million Mile Secrets

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Airbnb hosts in certain US cities, like New York and Santa Monica, have been completely banned from renting their apartments and homes due to changes in local laws. Meanwhile, Nashville appears to be encouraging more home-sharing in the city.

The recently built 328-unit Olmstead apartment complex in downtown Nashville will now be a ‘Niido Powered by Airbnb‘ building. This is a hotel-like concept, which allows residents to rent out their units on Airbnb for as many as 180 days a year. But tenants don’t get to keep all of their Airbnb earnings. They must pay the building landlord a 25% commission.

Would You Rent an Apartment in a Qusai-Hotel Airbnb Friendly Building?

This is an interesting concept for fans of home-sharing, including hosts and guests. But I imagine it will increase the rental rates in the apartment building because tenants will be able to generate income from their units. And if it’s successful, I’m sure other nearby buildings will adopt similar business models.

Niido buildings aren’t your typical apartment complexes either. Each Niido complex has a host for the building, which is similar to a front desk concierge at a hotel. And the company offers professional cleaning services to residents who choose to host on Airbnb. Niido apartment buildings also offer community spaces for barbecues, game nights, cooking classes, happy hours, pool parties and live music.

According to the Niido Website, the Company Will Offer a Number of Different Amenities at Its Properties

You might hear about many more of these conversions in the future. Niido is a Miami-based company that partnered with Airbnb and has since raised hundreds of millions of dollars to purchase apartment buildings in the US. Company executives have said they want to own and operate 14 Airbnb rental properties by 2020.

But so far, not everyone is a fan of the concept. Existing residents of the Olmstead were apparently surprised to learn their building was being converted to a permanent Airbnb complex.

We’re curious to hear what you think of the Niido concept. Let us know in the comments below!

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