AirDNA and RealPage Team Up to Describe Lease Arbitration Landscape
United States: Short-term rental data and analytics provider AirDNA has partnered with property and property management software, RealPage, to provide interactive information and tools to help tenants and landlords to take advantage of rental arbitration.
Long-term rental rates have risen by more than ten percent in a third of metropolitan areas in the United States over the past year, while demand for short-term rentals, after falling 50 percent in 2020, has rebounded phenomenally, leading to a new record of 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 prices. tastes of travelers.
AirDNA CEO Scott Shatford said: “The rental arbitration model has really taken on a new form in 2021. What was once considered ‘house hacking’ has now become a fully streamlined and transparent way. for tenants and landlords to enjoy both flexible living – 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.
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.
Richard Chandler, Director of Data and Product at Migo, said: “Covid has completely changed the way the multi-family industry views rental arbitrage. The largely defunct head lease model, where owner risk was minimal, has been replaced by a “revenue sharing” model where both parties take a simple cut in any income generated.
“All homeowners looking to take advantage of the substantial returns from roommates now have to share the risk as well. Understanding and maximizing rental arbitrage is now of critical importance to property owners in our industry, hence Migo’s close ties with AirDNA, ”he added.
The reports also contain interactive tools to help you find the best niche for rental arbitration by comparing actual rental growth, short-term rental income 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 percent for a studio to 140 percent for a three-bedroom and over.
Follow this link to read the full report.