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Enough Already! 3 Things About Short Term Rentals We're Tired of Hearing

There are a whole host of misconceptions and myths surrounding flexible stays (short to mid-term leases) and today we’re here to bust four of the biggest ones.

There’s a negative impact on your existing community

Now, we don’t want to diminish the importance of protecting your long-term residents. It’s something that Staykeepers is very passionate about, having developed specific services and more around this.

But there is a disproportionate amount of emphasis on the amount of antisocial behavior you "should expect" to have with flexible stays.

Here’s how Staykeepers actively works to protect long-term residents, and how you can too:

  • Minimum duration of stay - We have set a minimum of three nights for all reservations, avoiding party-goers and the other main causes of antisocial behavior.
  • Guest vetting - With every reservation that comes in, the Staykeepers customer care team vet the guests with various checks and direct communication both by telephone and email. 
  • Custom building requirements and questions - You can also set building requirements and custom vetting questions to be asked by the team. We can also set sites to ‘student only’, ensuring reservations will only be made by students.
  • Direct connection with your onsite team - We communicate directly with your onsite teams to confirm check-in, check-out, and any relevant updates throughout guests’ stays. Should any issues arise, we communicate and implement appropriate measures.

But don’t just take our word for it, here’s David Campbell from Alumno Group discussing their concerns when launching flexible stays.

 

 

There isn’t enough demand for student housing

Maintaining occupancy and revenue is a completely understandable concern and one we can overcome with a variety of success stories.

But to keep it short, you can click here to view our clients Londonist who had 90%+ occupancy achieved and maintained even during a pandemic.

It’s also important to note that students want flexibility and are willing to pay for it.

In quarter one of 2022, 21% of all our short-term rental reservations were made by students. You can find out all the details in this free quarterly report, where we discuss this alongside the top-performing locations for reservations and more.

Flexible stays are a lot of hassle

Sure, if you’re managing everything in-house there is a lot of manual labor and costs involved. In fact, we calculated it to be 360 man-hours for set up, then 965 hours per week for all ongoing work (if you have 20+units). Here are the stats.

But by leveraging technology and operational support, you can minimize both costs and manual labor.

Here’s a snapshot of how Staykeepers can help you:

  • Short stay marketing - Staykeepers technology advertises units on 450+ marketing channels, with real-time unit availability.
  • Performance tracking - Access our analytics and communications reporting as standard. We can also integrate with your existing systems.
  • Implementation support - Take advantage of guest communication and operational services that already maintain a high guest rating. Staykeepers vet all guests and stay in communication with guests throughout their stay.

Hopefully, this helps to overcome some of the common concerns surrounding flexible stays.

If you have a concern that hasn’t been addressed or any other questions, please get in touch.

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