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How The Grand, Denver uses Short Term Rentals to innovate in marketing
The Grand Denver, a beautiful 508 unit luxury lease-up, centered in downtown Denver’s oldest neighborhood, recently showed us exactly how this can be done to drive results.
Since joining the Pillow platform in January of 2018, the team at The Grand began collaborating with Pillow’s marketing team to weave short term rentals as an amenity available at their building, into their marketing messaging in a variety of channels…and within days, tours were being scheduled and leases were being signed.
It gets better…Not only is the ability to responsibly host on short term rental platforms attracting new leases, it is actually helping prospective tenants get more comfortable with stretching their dollar on a new unit.
Per Luisa, The Grand’s terrific community manager:
“Pillow is definitely a big lure, so much so that at least, 1 out of every 7 leases that we have signed thus far, is absolutely because of Pillow.”
“This most recent new tenant took a lease higher than she had originally planned, feeling safe because she could make up the difference with Pillow!”
Let’s not forget about what the residents themselves think
“I love everything about this! Seriously, this is the ultimate win-win-win for all parties involved. I travel over 50% of the time for work plus I have tons of friends I could stay with in the area, I’m going to try listing my apartment regularly. I’ve stayed in enough hotels to know what makes a great room – it’ll be awesome to offer as a host what I personally would want as a guest.” – Andrea (new resident)
Attracting Millenials with Short Term Rentals WHILE ALSO maintaining control
Millennials believe in the sharing economy and greatly value the ability to participate in it. So when a building is able to market their units with the ability to host on Airbnb – it allows the building to stand out from the crowd, differentiate and attract prospective renters from this valuable Millennial pool.
It is also critical for owners and managers that they have the visibility and controls around these short term rentals to ensure the safety of the community and mitigate risk from local regulation violations. This is where Pillow comes in. With Pillow, The Grand is able to offer the valuable short term rental amenity and minimize risk by having control over managing it.
At Pillow, we strongly believe in the power of marketing short term rentals as an amenity, and get excited when we see this working clearly for our clients in practice.