Manage both Long & Short Term Stays with Hybrid Rentals

Hybrid Rentals combine both the aspects of long-term and short-term rentals, especially in terms of retaining and increasing revenue respectively.

However, the ability to manage the nitty-gritty of both a short and long-term portfolio is not easy.  We are excited to introduce a comprehensive system that can efficiently manage all aspects of both short and long-term stays seamlessly through a single software solution.

Why did we introduce this feature?

Managing Long-term and Short-term portfolios are worlds apart.

Handling both long-term and short-term rentals could be represented as below:

The challenges in the above scenarios are:

Long-term rentals require:

• Operators’ attention when it comes to financials and accounts management (Rent, Deposit, Other Charges, Timely collections, Damages and Refunds). 
• Consistent Operations (cleaning and other ad-hoc tenant ticket requests over time)

Short-term rentals require:

• Quick unit turnovers (cleaning and maintenance of a unit after a move-out)
• Precise contract management to prevent overbookings and cancellations
• Intensive marketing (to get more bookings) to prevent revenue loss. 
• Balancing these differing demands can prove challenging.

How does our Hybrid Rentals system work?

Operators can use our software to market availability, handle accounts and schedule their operations in the following way.

Our software streamlines contract creation for walk-ins, effortlessly captures bookings from OTAs like Airbnb, and categorizes contracts into Long-term or Short-term options.

Every pre-paid short-term rental invoice is auto-created and all tickets associated with the tenant are tagged to its corresponding contract, ensuring transparency and accuracy in all transactions.

Users can easily generate invoices for rent, deposits, and any additional fees for long-term rentals with a simple click. Operators will always have an organized view of PPMs and can respond promptly to on demand tenant requests.