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Notable property manager Texas Capital recently started a pilot program in their River Run Apartments to take advantage of the ever-expanding short term rental market with Pillow’s easy to use platform.

Located in Avon, Colorado, River Run Apartments are just minutes from Vail Ski Resort and Beaver Creek Ski Resort. Vacationers are certain to take advantage of the fact that this This prime location and modern amenities make River Run Apartments an ideal choice for short-term renters. Until this point, the short term rental market has largely occurred with or without the approval or knowledge of building owners. In 2017, more than 210 million guests booked stays through Airbnb and the market is only projected to expand even further in the next several years. About half of these Airbnb rentals take place in multifamily building units, with or without the approval of property managers.

Building managers took advantage of Pillow’s easy to use platform to add control to this rapidly expanding short term rental market. Short term Rentals at River Run Apartments will use an established per night minimum price for guests booking their units, and a security deposit will be required from all guests. Pillow allows property owners to take advantage of this new and exciting market, while still maintaining transparency and control throughout the whole process. With Pillow, property managers can relax while capitalizing on short term rentals.

Pillow is helpful to property owners and tenants alike and provides seamless and full service solutions that allow short term rental hosts to enjoy greater flexibility to travel, while knowing their guests will rest easy. Pillow features automated online compliance, safety, payment, monitoring and property management tools all in one convenient digital solution. Landlords can safely monitor their tenant’s rentals while earning 10 percent of each booked reservation. Additionally, building owners receive daily and weekly short term rental activity reports directly to their inboxes.

Implementing Pillow was a smooth process for River Run Apartments. Everyone from the portfolio manager all the way down to the leasing agents got together for a joint phone call to discuss expectations and details with Pillow’s team. The entire team was committed to ensuring that this pilot program works as well as possible. If this pilot program is successful, Texas Capital plans to incorporate this program into their other properties.

If you own a multi-family 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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