All Forum Posts by: Todd Conway

Hello,

What is the best strategy for collecting addresses for Senior Living Communities online? We need the addresses for all individual apartments within a number of Senior Living Communities. The county clerk doesn't have the records online (San Diego County) or not that I can find.

I tried propertyshark and listsource but have had no luck with or I'm not doing it correctly.

Thanks

Offering Airbnb capabilities is absolutely a value added amenity, younger residents who live a more mobile lifestyle love it. It's happening right now across the United States, both residents and landlords are so happy with the amenity, landlords are on-boarding more and more  buildings in their portfolio. For Landlords, allowing Airbnb is a fantastic way to attract new residents. In addition, renters are likely to sign more expensive leases if they believe that they can earn some of their rent money back through short-term rentals. Letting renters provide short-term rentals is a competitive advantage for landlords setting them apart from other buildings in the area. I work with large Multifamily operators across the country to allow residents to rent to short-term guests in a controlled way and landlords take 10% from each booking. The extra income adds up, and can increase the value of a building. We also have a lot of residents approach us to find a building that will allow Airbnb as an amenity. If you want to add Airbnb as an amenity for single family homes or Multifamily residences go to my company site Pillow.com. We partnered with Airbnb in 2017 as a solution for short-term rentals in apartment buildings. 

P.S. 78 percent of millennials want the capability to offer short-term rentals, which allows them flexibility and extra income while away for their job or leisure.

John, Airbnb is absolutely here to stay. By 2020, Airbnb’s revenue is expected to be as much as $8.5 billion. Yes laws are being passed but Airbnb is actually doing a ton of innovating to keep up with regulations. 

Take notice that Airbnb is going after part time hosts since full time hosts are taking a huge hit with the regulations you mention. Airbnb is positioning themselves as a lodging option for large sporting events, conferences and many other events that draw large crowds.

Let me explain one of the most innovative strategies Airbnb is using to navigate these laws. Many city regulations are limiting Airbnb to primary residences and capping the amount of nights units can rent per year. What is Airbnb's solution? They are doing a huge push into apartment buildings throughout the country (with my company Pillow.com). Airbnb is working with building owners to allow it's residents to use Airbnb as an amenity. The amenity allows residents to list their units short-term, it's very popular amongst millennials and those who grew up around Airbnb. Building owners, in exchange for adding this amenity get complete transparency into all Airbnb activity in their building + control over residents use of Airbnb (ex. can set max guests, minimum security deposit, max nights per year, etc). Top multifamily operators are involed in this program and it's working really. Helps Airbnb's valuation when they go to IPO in the next year or so.

Writing an article on how Multifamily operators are managing Airbnb in their properties. Would be curious on some of the strategies used to regulate tenants use of Airbnb.

Evan, might have made his decision already however very sure others are interested.

Short answer YES! Huge opportunities for big money in short-term rentals. I’ve been in the Multifamily Short Term Rentals/Airbnb space for over 5 years now. Important to look into regulations in your city, a lot of new regulations - Seattle, LA, SF, Boston - are preventing full time rentals unless it’s your primary residence. Cities are also capping the number of nights a year units can be rented short-term, usually between 120-180 so can't expect to rely on the income all year long. By 2020, Airbnb’s revenue is expected to top $8.5 billion (ridiculous amount), and more than half of these rentals take place in apartment buildings. Get a good turnover service so you don't have to think about any of the work, and to maximize revenue make sure you’re listing on Airbnb, Booking.com and Expedia (vrbo,homeaway).Send any operations, revenue or getting started questions and happy to help.

Another way to earn money from Airbnb at your apartment building is you can allow residents to use Airbnb as an amenity then take a share of the profit. I work with some of the largest multifamily portfolios throughout the country that are using this short-term rental model to earn ancillary revenue, portfolios between 100 and 20000 units. Using this model we've partnered with Airbnb on a huge push into Multifamily and are seeing massive adoption. 

Best of luck!

Pretty familiar with everything going on...Airbnb is absolutely still a viable market. It's experiencing some setback from the regulations you mention but they are still growing. Airbnb’s revenue is expected to top $8.5 billion by 2020. Most of the regulations on the west coast are putting an end to full-time vacation rentals and limiting the number of days each year that owners can rent our their property. For example in Los Angeles, laws are being passed right now that will shut down full time vacation rentals and limit the amount of nights hosts can rent to short-term guests to 120 days/year. Airbnb has advanced their product to work alongside regulations. In 2017 they partnered with Pillow to get more heavily involved in apartment buildings (over 50% of listings are in apartment buildings). The partnership allows residents to use short-term rentals as an amenity, primarily renting their unit when they're gone for work, on vacation or want to head to another place to live for a short time. It's a very attractive amenity and is responsible for closing a lot more long-term leases in these apartment buildings. How does this new amenity for residents work alongside city regulations? Pillow/Airbnb let apartment building owners set restrictions on the number of days their tenants can rent out their units to make sure they stay compliant. These units are hosts primary homes, not full time vacation rentals so city does't restrict these types of rentals on Airbnb. Top multifamily buildings are getting onboard, they see Airbnb is already happening so instead they're letting them residents use Airbnb but under their rules.

Another popular trend among multifamily building amenities is the ability for residents to provide short-term rentals through Airbnb. 78 percent of millennials want the ability to list their units on Airbnb to gain lifestyle flexibility and make some extra money. This value-added amenity attracts renters, provides a huge competitive advantage and encourages renters to sign more expensive leases, as they know they can recoup some of this money through short-term rentals. If you’re interested in offering this popular amenity to your renters, consider partnering pillow.com (An exclusive partner with Airbnb on this). It's a short term rental platform that allows renters the freedom to list their units on Airbnb, and as a property manager you’ll gain control and transparency over the short-term rental process. Pillow is specifically designed to offer short-term rentals as an amenity. Just like pets became a huge amenity for the multifamily industry, Airbnb is now a growing trend that large multifamily operators are taking advantage of.

@Brian Garrett  Very good question. Definitely both, however most large buildings we work with use it it to close more leases (great for lease up marketing). This might answer your question "It's a value-added amenity that attracts renters, provides a huge competitive advantage and encourages renters to sign more expensive leases, as they know they can recoup some of this money through short-term rentals."  Brian thanks for your interest in my response.

Hey Kyle! I can share a lot of information where Multifamily stands with short-term rentals and Airbnb! One way Multifamily is profiting is by renting vacant units, however many cities are capping the amount of nights per year rentals can be used for short-term guests. Then on top of that cities aren't allowing rentals to be listed short-term if it's not the hosts full time home. There are regulations most definitely making it hard to rent vacant units! Los Angeles is putting laws in place right now and many companies/individuals are going to have to shut down STR operations. Now Multifamily operators are leveraging short-term rentals in a completely new way that works with regulation and HUGE value add for them. Top Multifamily operators like LivCor, Blanton Turner, Lincoln and are a few getting a lot of value out of this new short-term rental model - they do this by allowing residents to rent to short-term guests. This short-term rental capability is a huge value-added amenity. Multifamily buildings see more tours when residents are given the option to rent short-term. 78 percent of millennials want the ability to rent their unit on Airbnb, and offering this amenity is a great way to attract renters. In 2017 Pillow teamed up with Airbnb (exclusively) to give Multifamily operators a platform to offer this new short-term rental amenity to residents. If anyone is considering considering this as an option, the only option out there is Pillow.com. Basically the platform is powering this new amenity by allowing building managers to handle rentals in their property with control, transparency and profit sharing. They can set rules for renters to make sure everything is in in compliance with local short-term rental laws. Best of all Multifamily Operators can set are minimum nights a year, minimum security deposit, maximum guests, blackout dates and have a bunch of. The operators also get full details all the rental activity on your property - past, present and future with complete information about guests. The adoption has exceeded expectations, many of the TOP portfolios are on-boarding more and more buildings once they've put one building through a trial period. If anyone has questions about short-term rentals in Multifamily feel free to DM me - a ton of excitement from the industry and huge opportunities by adding short-term rentals as an amenity.