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heavily influenced by such trends as the move to “sharing instead of consuming” through peer-to-peer economies. For multifamily owners, home sharing increases the sustainability of properties by keeping units occupied at often above-market rent rates.
THE CHANGING MULTIFAMILY LANDSCAPE
New short-term rental analytics tools are equipping multifamily property owners and investors with real- time insights regarding the earnings potential of their properties as compared to the seasonally adjusted revenue of nearby rentals. For residents, home sharing offers not only flexible living but also the chance to offset rent by as much as 20%. Part of the profit goes to the property owner, so it’s a win-win all the way across the board.
And with the kind of transparency and control levers Migo brings to home sharing, the headaches of renter turnover are diminished, and short-term rental properties are quickly becoming one of the best performing aspects of an investor’s portfolio.
In addition, Migo enables multifamily owners
and stay lengths. And by focusing a small portion of their less popular or more frequently vacant units in the STR niche, investors will quickly build a more diversified portfolio and will realize better margins with little to no cost of “entry.”
HOME SHARING IS BECOMING A WORLDWIDE NORM
Considering underlying market factors, the demand for STRs is strong and seemingly here to stay. And the practice goes well beyond our national borders. Multifamily home sharing is becoming a worldwide norm, as “work from anywhere” affords workers the ability to travel and explore new places.
As Francis S. C. Yeoh, professorial fellow in entrepreneurship at the School of Computing, National University of Singapore, notes, “It’s a big wave – a tsunami – that’s coming, and you have to recognize, acknowledge and manage it. It is futile to try and fight.”
and investors to use concurrent listings to adjust
Clearly, there is no better time for multifamily owners and investors to get in on this burgeoning flexible living trend and meet the future of multifamily real
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