US: Miami-based multifamily management company Orion Haus has announced that in support of its mission to democratise the homesharing industry, it will also allow renters to become equity owners in the company.
The company has $200 million in assets under management and a waitlist of over 30,000+ ready to move in. While the average American spends half of their income on rent, Orion Haus renters can earn money while they are away by subletting to travellers on Airbnb, Vrbo and Google.
Cindy Diffenderfer, co-founder and CEO of Orion Haus, said: “Renting can feel like throwing your money away, but barriers to owning real estate are too high, leaving everyday renters without ways to monetise their home. Orion Haus puts renters first, and allows them to earn money on their apartment — in fact, we don’t just allow it, but we give them every professional tool to be as profitable as possible.”
Kanan Whited, co-founder and CMO of Orion Haus, said: “Call it a short-term rental, a vacation rental, or a sublet — it doesn’t matter what you call it. The point is that in most cases, you have to own property in order to monetise it.
“At Orion Haus, however, we make it possible for renters to home-share without the 30-year mortgage and the unaffordable down payment. All you need is a standard 12-month lease, and you’re ready to start making money,” he added.
Diffenderfer said: “VCs have been heavily invested in the space for years, but now Orion Haus is creating opportunities for everyone, big and small. And we’re taking it two steps further, by also letting our renters own equity in the company itself.
“We’re here to support the everyday renter who works day and night trying to make a good life for themselves and their families. Now when they pay rent to Orion Haus, they can feel great knowing they have an ownership in the company as well,” she added.
In May, Orion Haus announced that it was adding ten buildings and 1,588 units to its domestic portfolio, including in Atlanta, Austin, Houston, Memphis and Orlando, in what it claimed to be “the largest short-term rental multifamily deal in history”.
The intention behind the transaction was to allow Orion Haus to better serve its renter community as it seeks to capitalise on escalating demand for flexible housing solutions.
The company is undergoing rapid expansion and now seeks to create the largest and most diverse ownership group for Orion Haus.
For more information, visit the Orion Haus website.