Home sharing was one of the hottest trends discussed at this year’s Canadian Apartment Investment Conference (CAIC) this fall. While many property owners and managers have been hesitant to allow renters to share their units with short-term guests, the trend keeps gaining momentum. At CAIC, Brookfield Asset Management’s Jonathan Moore, who manages the company’s multifamily investments, revealed details of the company’s $200 million investment in a joint venture with Niido, Airbnb’s multifamily development partner. The funds are being used to buy as many as six apartment complexes in Florida and Nashville and developing them into communities where tenants may rent out their units through Airbnb for almost half the year — and share the profits with the landlord.+ For the industry, this partnership represents a significant commitment to making home sharing work — for both multifamily operators looking to take advantage of a growing trend and leverage its revenue while protecting their bottom lines, and renters looking to offset the cost of their leased units and enjoy a more flexible lifestyle. Airbnb’s Jaja Jackson, director of global multifamily housing partnerships, stated, “We’ve shown how landlords, developers and Airbnb can work together to create value for everyone. We’re excited to continue to work together to make home sharing easier to landlords, tenants and travelers.” Developing Brookfield’s New Communities Since 2010, Brookfield’s investments include around $8 billion in purpose-built apartment acquisitions and another $3 billion in multifamily development. After the sale of more than $4 billion in apartments in the past couple of years, Brookfield has chosen to repurpose that capital in the home sharing market. The choice of Florida and Nashville as the locations to test this venture have been by the fact that the two cities are popular with tourists but light on Airbnb...