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Pillow is a true one stop shop when it comes to short-term rentals. With one simple platform, property managers can offer the incredibly attractive Short-Term Rental amenity to their renters and monitor & control all short-term rental activity. If that isn’t
 appealing enough, landlords can also leverage Pillow’s Vacant Unit module to manage and monetize vacant units.

A Long Term Short-Term Solution

A well run and efficient vacant unit program can help drive profits. 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. Take it from Brittany M. with Cramer Apartments:

“I can find a 20 percent premium to a traditional 12 month lease by utilizing a vacant unit
 strategy,” she said.

Pillow makes it easy

With Pillow, property managers don’t even have to open Airbnb. Just sign up for the
 service and Pillow will list your vacant units for you. You can utilize Pillow’s
 multi-calendar tools to keep track of all existing rentals and block off prime rental 
periods. Pillow will also send guest guides 24 hours prior to any reservations. With this
 feature, you can make sure that short-term guests have all the information they need for 
their stay. The guide will also make sure they are held to the same rules and standards
 you have in place for your tenants. Are you a non-smoking building? Want to enforce
 quiet hours? Do you have a policy in place for pets? In addition to what’s in your listing,
 the guest guide can clear up any confusion ahead of time to keep your renting
 experience stress free.

 

Make your calendar work for you

By 2020, Airbnb is set to be worth $31 billion. On any given night, more than 2 million 
people are staying in Airbnb units. Multifamily buildings are especially popular, as short
-term rental clients appreciate the safety and security that comes with a trusted complex. 
Multifamily buildings also offer attractive amenities and are frequently located in
 desirable rental locations, like downtown areas. Take advantage of this rapidly
 expanding short-term market in a way that makes sense for you. With Pillow’s
 multi-calendar insights, you can choose when to offer rentals to maximize earnings
 during periods of peak interest. You can choose to put more units up for rent when 
there’s a big sporting event in town, for example, and tone down rental activity during 
the holidays or other times when you want a break. You’ll view in-depth reports on unit
 turnover to ensure that management is done in a way that’s efficient and timely. You
 can track all your vacant unit rentals in one easy spot. On the platform, you can also
 view post-checkout inspections, cleaning records and pre-check in inspection reports.
 Take advantage of this growing market, without taking up all your time.

A One-Stop Shop

In addition to monetizing your vacant units, Pillow can help you gain control and
 transparency over your tenants’ own short-term rentals. Whether or not you explicitly
 approve of short-term rentals, your tenants are likely taking advantage of the
opportunity. In a recent study from the National Multifamily Housing Council, 43 percent
 of apartment firm leaders indicated that their residents have already listed their homes 
on short-term rental sites without their approval. With Pillow, your tenants will also have
 the opportunity to make some extra cash. You’ll get to enact controls , monitor the 
whole process and offer an attractive amenity to new tenants – all from the same service
 you’re already using to fill vacant units. Properties that utilize Pillow in their residential 
units will also receive a special pricing offer on offering short-term vacant unit rentals, in 
addition to earning 10 percent of all completed bookings made by residents.

 

Short-Term Rental Solution for Vacant Units
Short-Term Rental Solution for Vacant Units

 

About Pillow

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 partnerships@pillow.com or visit www.pillow.com.

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