ApartmentJet’s mission is to help multifamily owners and operators easily manage the unique challenges of short term rentals across an entire portfolio of properties. That means increasing visibility and simplifying workflows at a unit level, a community level, and a portfolio level.
Today we want to highlight some of our efforts as they relate to Short Term Pricing. We’ve launched a brand new calendar with a few nifty pricing tricks up its sleeve.
Let’s start at the portfolio level. Want a birds-eye view of community performance and occupancy? A glance at the portfolio calendar will show you how many short term guests currently reside at your properties. It’s an aggregated view, but you can click on any calendar day to view specifics.
You’ll see indicators for blackout events. What’s a blackout event? It’s a day (or range of days) when a property or unit is unavailable. Maybe you have a community pool party coming up and don’t want visitors. Or maybe a walk-in guest reserved a unit. No problem. Add a blackout event to a unit (or entire property) and we’ll let the marketplaces know the appropriate units are unavailable.
To view a single property, drill down to the calendar’s single community view (or get to it via your community dashboard). In addition to the number of guests and blackout events, you’ll see an additional indicator for price. This is the price range for the community’s currently listed units. What if the price range indicator is colored like in the example below? Well, that’s a secret you’ll have to read further to discover.
Last, and certainly not least, is the unit calendar (available by filtering the main calendar or by visiting the unit’s dashboard). The unit calendar is a bit more detailed, because there’s no aggregation necessary. It shows your exact guests and the length of their stays. If a unit is blacked out, you’ll see that, too.
The unit calendar is also where you can manage pricing overrides. By default, the calendar displays a unit’s base price. To override the base price, select a range of dates and apply your new prices.
Different short term marketplaces like AirBnB or HomeAway have different fee structures. With Apartment Jet, as we roll out new marketplaces, we’ll help you offset those fee differences by setting unique base prices and overrides for each marketplace. When you do so, the calendar will display a range of prices instead of a single price. (Note: ApartmentJet is not yet officially integrated with multiple marketplaces, but we’re getting ready for the future.)
Remember earlier when we discussed color coded price indicators? If a base price has been overridden on the calendar, the price range will have a cyan background indicator (as seen above). If the price has a purple background indicator, it was overridden using our new event builder, but you don’t get to hear about that until we find time to write another blog post. How’s that for a tease?
Daily unit pricing support has been one of our most requested features. It’s now available for all users. And we’ve got great new features coming soon. Stay tuned!