NextNest is an innovative property management company based in Toronto that's reimagining how homeowners and renters can leverage their living spaces. At its core, NextNest offers a unique proposition: we pay residents $150 or more per day when they travel, in exchange for the opportunity to transform their homes into premium Airbnb rentals during their absence.
Our business model is built on a win-win approach. We take care of everything, from obtaining necessary licenses to managing guest inquiries, cleaning, and even storing personal items. This comprehensive service allows our co-hosts (homeowners and renters) to travel worry-free while earning income from their otherwise vacant homes. In return, NextNest takes a percentage of the rental income, typically between 20-30%, leaving the majority of profits for the co-hosts.
Our target customers are diverse. We cater to homeowners in Toronto who love to travel and want to offset their vacation costs. We also work with renters who, with their landlord's permission, can participate in our program. On the guest side, we attract travelers looking for authentic, local experiences in comfortable, well-maintained homes.
The NextNest team is led by Desmond Yeo, the CEO and Founder. Desmond brings valuable experience as a former management consultant from Bain's Private Equity Group and as an Airbnb Superhost who has hosted over 500 guests in the last two years. This blend of business acumen and practical hosting experience forms the foundation of NextNest's approach.
Our service offering is comprehensive. We handle everything from professional photography and listing creation to guest vetting, 24/7 support, and post-stay cleaning. We even offer pet care services for co-hosts who need it. All stays are backed by $3 million in insurance coverage, providing peace of mind to our co-hosts.
What sets NextNest apart is our focus on primary residences and our commitment to community building. By only facilitating rentals when owners or tenants are away, we help maintain long-term rental supply in tight housing markets. We're not just a property management company; we're a facilitator of dreams, enabling people to travel more freely while contributing to a vibrant local economy.
NextNest has already gained recognition in the industry. We've been named one of the Top 10 Smart Hospitality Solution Providers in Canada in 2024 by Travel and Hospitality Tech Outlook. We've also secured seed investment based on a $2 million valuation, indicating strong investor confidence in our model and potential.
As we grow, we're committed to our vision of creating a world where homes can fuel dreams, pioneering innovative, inclusive, and flexible housing solutions that support the needs, passions, and long-term goals of homeowners and renters.
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