Airbnb has changed how millennials travel — taking the hassle out of booking expensive hotel rooms. Backyard, the company’s new initiative, is revamping the housing market.
Fast Company first reported Airbnb would begin selling and designing affordable homes in 2019.
Now Backyard buildings will be designed by Airbnb’s in-house studio, Samara.
The goal of the initiative is to reshape how homes are designed, manufactured and sold, while being environmentally friendly.
“The way buildings are made is outdated and generates a tremendous amount of waste. In order to meet the demands of the future, whether it be climate displacement or rural-urban migration, the home needs to evolve, to think forward,” Airbnb Co-founder and Chief Product Officer Joe Gebbia said in a press release.
The Backyard homes are optimal for Airbnb hosts — hosts can buy the homes for the specific purpose of renting them through Airbnb. However, renting out the spaces is not a requirement when buying.
Airbnb’s Backyard adds another revenue stream for the company, which is constantly looking for other industries to enter. Since gaining popularity, Airbnb has struggled with legal battles in cities like New York, where there are strict housing laws.