It's no secret that the vacation rental industry is booming. In fact, it's estimated that the industry will hit $82.78bn in 2022. And with good reason – vacation rentals offer travelers a unique and affordable way to travel.
Although short-term rentals can provide significant benefits to multifamily and student housing portfolios, many have not adopted this strategy yet.
Here are three reasons why staking your knife in short-term rentals now is a smart move:
Higher daily apartment rent
If you want to charge a premium price for your multifamily or student housing apartments, travelers are typically willing to pay more for accommodations that are comfortable and convenient. By optimizing prices daily, Staykeepers achieve up to 80% revenue growth from apartments than if they were rented out long-term.
Our market insights demonstrate there is demand for all property types, from private rooms (en-suites) to multi-bedroom apartments.
Utilizing a number of apartments for short-term rentals keeps occupancy rates high, and allows your onsite team to focus on attracting long-term tenants. Here's what that might look like:
Plus in today's competitive landscape, it's more important than ever to stand out from the crowd. By offering short-term rentals, you can show that you're an innovative property owner who's ahead of the curve. This can help you attract more tenants and build a strong brand identity.
"Thank you for your hospitality and kindness. The location is very good. The place suitable for me as new student come to Dublin to stay as temporary before find a permanent house. I love to stay here again someday and the place very recommended." Zunaidi Ibrahim
Scale revenue without increasing expenses
By managing your apartment marketing and 24/7 guest communications, Staykeepers enables you to rent out apartments for short periods of time without raising your operating costs. We work closely with your on-site staff and property management team to ensure a smooth operation, even offering assistance on the ground with our operational services.
If you're ready to stake your knife in short-term rentals, then contact us today. We'll help you get started on the path to success.