US: Real estate software and data analytics company, RealPage, has selected PriceLabs as its preferred revenue management platform for Migo, a home-sharing service and software announced in June in exclusive partnership with Airbnb.
Migo enables multifamily renters and owners to earn revenue by sharing their apartments on Airbnb. Through the platform, residents can offset their rent and live more affordably with income from home sharing on Airbnb, all while following local regulations and community policies.
PriceLabs co-founder Richie Khandelwal said: “We are excited to be working with the RealPage team on their vision to give residents the ability to live more flexibly. Migo is a much-needed solution to solve for home sharing in multifamily communities.
“Our solution will help residents to maximise the income they generate from sharing their units on Airbnb and thereby reduce the financial burden of renting a home,” he added.
By partnering with PriceLabs, Migo aims to provide users with a demand-based pricing tool that monitors the market and delivers highly optimised per-night pricing to maximise the revenue potential of a unit.
Migo vice president Todd Butler said: “Apartment residents are now demanding more flexible living opportunities and the freedom to live and travel on their schedule and make use of their empty apartment while they’re away. Migo’s technology, and partnership with Airbnb, allows residents to do just that.
“Home sharing unlocks new revenue streams for not just residents but also for owners. Owners share in the income generated from resident home sharing and can better utilise vacant guest suites.
“Revenue-maximising software is essential to delivering great results to our customers and we are pleased to team up with PriceLabs to provide this solution to owners and residents,” Butler added.
Migo is compatible with RealPage, Entrata, Yardi, and MRI, and will be available across the hospitality industry in the third quarter of 2021.
RealPage announced its exclusive partnership with Airbnb in June, and since then, the company has also tapped smart noise monitoring company NoiseAware as the exclusive noise monitoring service for Migo.