Flex Rentals Are Boosting Cash Flow for Multifamily Communities
Although March 2020 placed a screeching halt on travel and the short-term rental (STR) industry, what has blossomed post-pandemic for multifamily owners and operators is the opportunity to gain a healthy extra revenue stream and offload a little cash flow risk.
Remote and hybrid work continues to flourish, making the option of renting for the short term doable for many Americans. Yet, how this ability and its growing group of “subscribers” are harnessed through STR providers and hosts can make all the difference.
“With apartment vacancies on the rise, multifamily operators and owners need to be creative and innovative when looking for opportunities to maximize asset value,” says Jason Fudin, CEO and co-founder of Placemakr, which offers nightly, short-term, and long-term stays in apartment settings either owned or powered by the company.