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How to sell flexible stays to a sceptic

There are a fair share of sceptics in multifamily and student housing, who doubt the value and effectiveness of offering flexible stays (short to mid-term lets) within their portfolio. As you’re reading this, you might be one of those sceptics or trying to convince someone above or beside you who is. 

Here are four points to sell flexible stays to a sceptic:

Offset increased asset running costs

With the operating costs of assets consistently increasing, student housing and multifamily are experiencing reduced profits. Future success will be found for those generating 20-30% more revenue to offset these expenses and maintain profitability.

Landlords can attain this revenue growth by adding short to mid-term stays to their buildings’ standard offering. By leveraging technology and operational support, they can minimize costs and manual labor. 

Generate 20-30% additional revenue

When launched strategically, flexible stays provide a great source of additional revenue.

For each and every unit, Staykeepers achieve 20-80% more revenue than long-term rent.

20-30% revenue growth is achieved through:

  • A consistent flexible stays program - Here’s a comparison of two Staykeepers clients. Client A had on average 89% fewer units than Client B but saw 76% more revenue. All thanks to implementing flexible stays all year round.
  • Revenue-driven technology - We achieve 20-80% more revenue than long-term leases thanks to our dynamic pricing. This revenue-driven technology updates listings daily to achieve the best price the market will pay for.
  • Market Intelligence & Strategy - Ensure you receive short-term lease intelligence and local market assessment for existing and new schemes. Evaluating current and future performance, Staykeepers advise on the percentage of units to be allocated to short-term leases, recommended unit type (e.g. studio), and projected revenue.

Increase your asset valuation

You can secure underwriting (where applicable) for your existing and future portfolio. Staykeepers assist in securing underwriting for short stays, adding to the valuation of assets. We provide the necessary demonstration of proven success and supporting materials to work with underwriters.

Minimize costs with technology & operational support

Partnering with a company like Staykeepers means you save the financial costs and manual labor involved with running flexible stays in-house. (With 20+ units you are looking at 360 man-hours for set up, then 965 hours per week for all ongoing work!) We work with you to create an effective strategy, which is executed alongside each other.

Here are some examples of the support you can leverage on:

  • 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.

So there you have it! If you need more convincing, click here to view our free revenue projections calculator which shows how much you can be earning from flexible stays.

Our team can also help provide supporting materials such as bespoke revenue projections for your business, and applicable success stories like the ones below. Click here to get in touch.

 

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