AirDNA and RealPage Show Continued Opportunity in Rental Arbitration After Upheaval in the City Travel Landscape
DENVER, August 10, 2021 / PRNewswire / – AirDNA, the leading provider of short-term rental data and analytics, has partnered with Real page to supply interactive information and tools to help tenants and landlords capitalize on rental arbitration.
Long-term rental rates have risen by more than 10% in a third of metropolitan areas in the United States in the past year, while demand for short-term rentals (STR), after falling by 50% in 2020, has rebounded phenomenally, leading to a new record 70.2% occupancy in June 2021.
First Joint Report between AirDNA and RealPage highlights the new landscape of rental arbitrage, including which cities have the highest earning potential and how the pandemic has caused major changes in fares, demand and the tastes of travelers.
“The rental arbitrage model has really taken on a whole new form in 2021,” said Scott shatford, CEO of AirDNA. “What was once thought of as ‘home hacking’ has now become an entirely simplified and transparent way for tenants and landlords to enjoy flexible lives, especially with tools like Migo.”
For owners and renters of multi-family apartments using Migo, RealPage’s new flexible living platform that enables and streamlines multi-family home sharing on Airbnb, these trends are welcome news. AirDNA and Migo present a new list of the best cities for rental arbitration, showing some familiar favorites like Savannah, Charleston, New Orleans, Nashville, and Jacksonville. San Diego is also new at the top of the list, with an annual growth of 4% in apartment rents.
“Covid has completely changed the way the multi-family industry views rental arbitrage,” said Richard chandler, Director of Data and Products at Migo. “The largely defunct head lease model, where landlord risk was minimal, has been replaced with a ‘revenue sharing’ model where both parties take a simple cut in any income generated.” Chandler added: “All landlords looking to reap the substantial returns from home sharing must now also share the risk. Understanding and maximizing rental arbitrage is now of critical importance to property owners in our industry – to where Migo’s close ties to AirDNA. ”
The report also contains interactive tools to help you find the best niche for rental arbitrage by comparing actual rent growth, STR revenue growth, and more by neighborhood and number of rooms. In general, the larger the unit, the greater the opportunity for arbitrage – premiums for short-term rental income go from 46% for a studio to 140% for a 3+ bedroom.
Click to read the full report
AirDNA transforms short-term rental data into strategic, actionable analysis. The company tracks the performance of 10 million vacation rentals in 120,000 global markets every day to provide real-time market information.
Airbnb hosts, vacation rental managers, travel agencies and real estate investors all rely on AirDNA vacation rental information to analyze trends, rental prices, identify new opportunities for rental. investment and compare performance.
Contact: [email protected]
+1 720 372 2318
Real page provides a technology platform that empowers property owners and managers to change the way people live and use rental space. Clients use the platform to gain transparency into asset performance, leverage data insights, and monetize space to create incremental returns. Founded in 1998 and based in Richardson, Texas, RealPage currently serves more than 19 million units worldwide from offices in North America, Europe and Asia. For more information on RealPage, please visit RealPage.com
Contact: [email protected]
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