US: Short-term rental startup Frontdesk has introduced Frontdesk Flex, a new suite of solutions aiming to change how multifamily real estate owners and managers engage in the market.
The company is launching the platform on 16 November.
Flex aims to be the most powerful short-term rental management platform on the market, providing a wide range of solutions to maximise occupancy yield. It also offers a B2B enterprise SAAS platform, a full-service turnkey management solution, and ways to list across the largest short-term rental sites.
Jesse DePinto, co-founder and chief product officer at Frontdesk, said: “The secret sauce behind the Flex platform is our team of experts to help you every step of the way. With Frontdesk Flex, our clients will enjoy access to our proven tech, as well as our team of experts in revenue management, trust and safety, listing optimisation and guest support.”
The company claims it has achieved over-performance of 15 to 25 per cent, with around 600 units for rent across 28 markets in the United States, and has been named an Airbnb Superhost in many of its markets. Frontdesk rentals have housed more than 155,000 guests this year, with an average of 5,000 stays each month.
Amy Johnson, director of marketing and leasing, Roers Cos and Core Living, said: “Core Living decided to partner with Frontdesk to fill the remaining three to five per cent vacancy we often have across our portfolio. We currently have Frontdesk in eight of our properties across the Midwest, including 34 revenue share units and six units with Frontdesk Flex’s Beta program.
“We have also had conventional leases with Frontdesk in the past. Frontdesk gave us an instant boost of two to ten per cent occupancy at each location and an added $40k+ in monthly net operating income [NOI] across our portfolio,” she added.
Frontdesk has managed to grow in spite of market conditions, buoyed by a $6.8 million Series A round in April, and is seeking to continue building on a strategy of sustainable growth.
DePinto spoke on a recent RockSTRz webinar and a podcast for ShortTermRentalz earlier this year, in which he discussed the challenges facing the master lease model and the impacts that the pandemic had on his company.