A CRITICAL PIECE OF MAXIMIZING THIS NEW REVENUE STREAM IS KEYLESS ENTRY.
✓ Residents and owners to choose either a self-service route and retain the most income, or a full-service option, in which they do the least amount of work but pay the provider an additional fee to handle everything ✓ Real-time pricing based off local market data ✓ An app with an easy-to-use dashboard ✓ Integration with booking platforms, like Airbnb ✓ Integration with access control software ✓ Access codes for smart locks automatically generated upon approved bookings ✓ Custom access codes created for cleaning and maintenance SOFTWARE LIKE THIS ALLOWS:
LEAN INTO PROPTECH TO ENABLE HOME SHARING Just as booking platforms have fueled short- term rentals in the single-family-home sector, software innovations are also key to the sharing economy in the multifamily market. Migo, an amenity offered through property management software provider, RealPage, accommodates flexible living by allowing both residents and multifamily property owners to participate and profit from home sharing on Airbnb. A critical piece of maximizing this new revenue stream is keyless entry (already one of the hottest amenities in multifamily living).
Case Study: Sentral
Sentral is a Denver-based real estate startup that employs the flexible living formula. Sentral currently manages about 3,000 class-A units in premium U.S. locations, with a mix of short and long term stays. The company uses a proprietary proptech platform, including RemoteLock’s cloud- based access control solution. It integrates with a booking engine, thereby opening up new revenue streams for Sentral management and its residents. The Sentral CEO recently stated in an interview that he believes this ability to accommodate different lengths of stays is the ticket to future growth.
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