Short-term rentals are becoming increasingly popular in multifamily apartments all over the country. This is because they offer a number of advantages for both guests and landlords. In this blog post, we will explore three examples of successful short-term rentals in multifamily apartments.
Luxury apartments made affordable at £550 per night
Aperture has partnered with Staykeepers to increase the revenue for their luxury apartments in Curzon Street, London. A high-end location ideal for flexible stays, the apartments boast a 94% occupancy rate and nightly rates of £550.
The partnership between Aperture and Staykeepers has resulted in increased bookings and revenues, with its prime location and stellar reputation, these apartments are the perfect choice for discerning travelers who are looking for a luxurious, affordable and convenient place to stay.
Staykeepers delivered results soon after onboarding the unit in Parallel Property
Staykeepers have been working in partnership with Parallel Property since 2019, delivering an end-to-end technology solution for short-term rental management that has proven to be highly effective. Our in-house developed algorithms for verification are used to make sure that all sides have a hassle-free and secure short-term rental experience. Staykeepers delivered results soon after onboarding the units, and in the summer of 2019 the landlord received £15,000 in net revenue from his high-end units near Marble Arch - a significant return above long-term market rates. We are proud to have played a part in this success story and look forward to continuing our work with Parallel Property in the future.
Increased unit revenue by £1.5k this month
We marketed units on over 450 channels to increase exposure and interest. Our on-the-ground teams prepared the units and ensured that everything ran smoothly - from the inventory to cleaning and vetting guests. Our technology allowed the building managing agent to see real-time availability of the units and steadily decrease the amount of units under short-let management as more long-term residents moved in. As a result of our efforts, we increased their revenue to £1.5k per month for each unit under management - this was higher than the long-term rent for a studio in Harrow. Consequently, we were able to provide their clients with a higher return on investment.
Short-term rentals can be an excellent way to generate additional income for landlords, while also providing tenants with more flexibility and convenience. If you are considering adding a short-term rental unit to your multifamily property, Don't hesitate to consult with us!