How Staykeepers can turn guests into residents?
Picture it: every day thousands of people are relocating to London but are not confident enough of the market nor the location to bind themselves into a long-term rental. On the other hand, BTR operators are experiencing long void periods and hundreds of empty apartments. Staykeepers has the solution to resolve these very tangible pains for both parties.
During our four-year experience in short-let management and over 10 000 guests accommodated, we found a large percentage of all guests staying with us are relocating to London and are actively looking for long-term accommodation. They use our short-let service while doing market research for longer-term accommodation. Not to mention the hassle-free experience and peace of mind they gain from using our services.
Staykeepers is the only company currently in the UK providing Short Term Rental management for BTR buildings. By allowing people a short-let it effectively offers them a chance to test drive the apartment to see if it works for them. This not only quickly fills the apartment that was otherwise empty, but regularly results in a Resident Conversion: a new term for the moment when a short-term rental converts to a long-term contract.
In addition to the resident conversions, Staykeepers offers a PropTech platform, providing institutional landlords access to a dashboard with the ability to monitor their short-lettings: showing real time financial information; activity logs in the buildings; and many other indicators for each unit and building. All this in compliance with the local and national regulations.
Adding the Staykeepers platform as an amenity to your building won't cost you a penny. From a financial perspective, this means capitalizing on each short-let guest who eventually might convert to a long-term renter. If the guest is staying in a vacant unit, you – the landlord – will receive 85% of the short-let revenue, and potentially a new resident.
Staykeepers also helps BTR operators to attract residents and minimize the void period in their buildings – see our blog “Fill that void” for more.
We also help them retain current contracts by providing a unique ability for tenants to earn extra income. See our blog “The complex web of compliance”.