RealtyShares Partners With Airbnb To Provide Financing Sources To Multifamily Building Owners
RealtyShares has become the first financing resource featured on Airbnb’s Multifamily Properties Toolkit. The website provides owners, operators and developers of multifamily buildings with resources to support long-term tenants wishing to rent their space to travelers.
Airbnb allows landlords to manage rental income in their building through its Friendly Buildings Program. Airbnb partnered with Pillow Residential in November to provide additional rental management tools for multifamily building owners. Veritas partnered with Pillow and Airbnb to allow residents in five of its San Francisco properties to participate in the program.
“Adding home sharing as an option is just another way buildings can attract and retain tenants,” Airbnb Director of Multifamily Housing Partnerships Jaja Jackson said in a statement.
RealtyShares, a crowdfunding investment platform, provides experienced multifamily building owners and operators financing to buy, refinance and renovate their buildings. It can finance new opportunities and emerging concepts, such as multifamily development projects that offer long-term rental units that can be easily shared with travelers. Traditional capital providers do not usually participate in this sector.
The company raises capital for these projects through a mix of institutional funds and capital from accredited investors investing through its platform.
“RealtyShares’ biggest strength is our non-traditional mentality,” RealtyShares Vice President of Debt Originations Bill Lanting said in a statement. “Landlords are increasingly interested in offering home sharing as an option for their tenants.”
In 2017, RealtyShares helped finance more than 80 multifamily properties from Miami to Phoenix, each going through an extensive due diligence process to ensure it met the company’s rigorous standards. These complex and creative financing opportunities make up the core of the RealtyShares investment marketplace, which has deployed more than $700M across over 1,000 projects in 39 states.
