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Savvy building owners know that short term rentals are a rapidly expanding market with immense potential for earnings. By 2020, Airbnb’s revenue is expected to be as much as $8.5 billion. But who has time to micromanage short term rental activity for all of their units? Smart managers and owners take advantage of Pillow, an easy-to-use solution designed to bring visibility, control, safety, and transparency to the short term rental process, without sacrificing earning potential for building owners or tenants. The Pillow platform give you the tools you need to:
Pillow’s building insight controls allow property managers ensure the best possible short term renting experience for all- with little extra effort on your part.
Maximize your revenues
With Pillow, building owners receive a 10 percent revenue share from each completed reservation. Building managers can track their earnings by unit and see how many nights each tenant has offered their unit as a short term rental. View your revenue and forecast future revenue- without having to crunch the numbers yourself. This tool gives you insight into the actual benefits of offering short term rentals and allows you to maximize future earnings by breaking down profits and showing what units or buildings are top performers. In addition, Pillow makes it easy for you to post any vacant units as short term rentals on Airbnb to make the most out of your assets and earn some extra revenue.
Multitask with calendar insights
It would be nearly impossible to keep tabs on the individual renting activities of different tenants. Pillow makes it easier. On the owner dashboard, you can view each of the upcoming rentals scheduled to take place in your property. Pillow shows you the individual Airbnb host in your building, the number of guests they’ll bring with, the unit they’ll be staying in and the dates for check in and check out. Pillow’s building owner tools allow you to keep track of check ins and checkouts down to the hour. You can view the Airbnb guest’s profile and easily message the resident hosting the rental- all in the same place. In addition, you’ll be able to view reports of turnover activity after each rental. Pillow’s building manager tools allow you to message the cleaning staff responsible for turning over the units after each completed reservation and monitor exactly when they will be in your building. As a property manager, you’ll gain insight into exactly who’s in your building.
With Pillow’s building owner insight tools, you can also easily keep track of all the residents signed up for short term rental services. You can make sure that residents have signed the agreed upon lease addendum to allow short term rentals in a safe and legal way. The interface also gives you an easy way to add residents to the service and message any tenants who have already signed up. Additionally, both property managers and residents will benefit from updated optimized pricing suggestions to make the most out of every short term rental. Pillow also lets you see the Airbnb listings each resident has made and keep track of all their profiles.
These tools put the manager & owner in control. And give them a view into the short term rental activity that would otherwise go unfettered and unmonitored. Has your site staff had a guest show up at a property asking questions they had no idea how to answer? No more.
Keep it legal!
Pillow’s platform automatically makes sure that all guests will follow building policies. Do you want to limit the number of guests that any unit can host at a given time? Is there a pet policy? What about smoking policies? Does your building have quiet hours? Are you comfortable with guests hosting parties or events out of their rented units? You can set hard rules on all of these things, and any guests will automatically get the message. Additionally, Pillow ensures that any market-specific regulations enforced by the city will be followed. Many major cities have enforced caps on the number of nights that a property can be rented out in a row, or the total number of nights a property can be rented each year. Make sure that your residents stay in compliance with all these rules and stay out of any trouble- all without extra effort on your end.
All in all, Pillow offers a one stop shop for managing short term rentals in multifamily buildings. You’ll be able to monitor rental and turnover activity, and view reports and well-designed charts to forecast future earnings. Pillow’s business insight tools allow you to stay on top of this rapidly expanding market without hassle. If you’re interested in maximizing your building’s earning potential, email firstname.lastname@example.org or visit pillow.com to get started.
Pillow is solving short-term rentals for multifamily properties, allowing building owners and property managers to have control and transparency over short-term rentals while enabling their residents to rent their units short-term on Airbnb. When someone books a short-term rental reservation with a resident, building owners are earning 10 percent of each booked reservation allowing them to invest back into their communities or help cover management expenses. Additionally, building owners receive daily and weekly short-term rental activity reports with key reservation information including dates, guests’ names and contact information. Landlords can also leverage Pillow’s Vacant Unit module to manage and monetize vacant units. With Pillow, landlords can rent out their empty units for a few nights at a time to make the most of this valuable asset. Pillow charges an 8 percent fee per completed reservation: the average property manager can make 10-30 percent more than typical market value by offering short-term rentals in addition to traditional leases. All in all, Pillow offers a one stop shop for managing short term rentals in multifamily buildings. With one service, you can offer your residents the flexibility to do the same and easily monetize your vacant units.
If you own a multifamily complex or management company and are interested in providing short-term rentals, email email@example.com or visit www.pillow.com.