The Pros & Cons of the Top Five Multifamily Short-Term Rental Models
ShortTermRentalz speaks to Mickey Kropf, the co-founder and CEO of Vector Travel Inc, a tech-enabled multifamily short-term rental fee management company, about the pros and cons of each multifamily short-term rental model and their applications.
Multifamily short-term rentals are here to stay. Consumer demand for alternative accommodations via platforms like Booking.com, Expedia, HomeAway, and Airbnb is increasing relative to demand for hotels. Short-term rentals can produce up to three times the revenue of long-term rents, so they are of course on the radar of nearly every multifamily company today.
Once a multifamily company decides to bring short-term rentals into its portfolio, the next question is which operating model fits best given its inventory, financial goals, and risk preferences. Mickey breaks down all five in the full article: fee management, corporate leases, hotel rezoning, resident-facing platforms, and in-house management.
Not sure which model fits your asset?
Mickey's breakdown covers five distinct approaches, but the right one depends on your property type, market, and financial goals. Our team can walk you through the options and show you exactly what a fee-management partnership with Vector would look like for your portfolio.
Mickey's breakdown covers five distinct approaches, but the right one depends on your property type, market, and financial goals. Our team can walk you through the options and show you exactly what a fee-management partnership with Vector would look like for your portfolio.
