Before creating ApartmentJet, we set out to learn a few things about the multifamily industry’s attitude toward short stay marketplaces like AirBnB. We spoke to former clients, to marketing teams, to operations executives. We read industry news and conference presentations.
Everyone worried about the same issues, which included:
Visibility. Who is showing up at our communities? How do we screen them?
Protection. What if guests cause damage? Are we insured? What is AirBnB’s insurance policy? How do we protect our assets and our residents?
We then set about trying to solve each of these issues, and they’re all baked into ApartmentJet’s product and services.
Smart Stay Program
To solve the most pressing issues, we created our Smart Stay Program, which adds a layer of protection above and beyond what the marketplaces offer.
Background Screening. We screen potential guests with an industry standard scoring model. Then we automatically approve or reject reservations based on the results. This helps our clients feel more confident about the guests visiting their communities, and it helps maintain fair housing best practices.
Insurance. For every guest stay, we issue a short term rental insurance policy (via third party partner) that protects both the owner and guest with up to $100k liability and $5k property damage coverage. We understand these units and buildings are investments as well as people’s homes, and they should be adequately protected. We’re also exploring the possibility of offering higher value plans for higher value properties.
Taxes. Though not mentioned above, another multifamily concern involved occupancy taxes. The short term marketplaces don’t always collect, report, or file taxes on a host’s behalf. We’ve made it easy. We’re partnering with an experienced third party company to file taxes not collected by the marketplaces. We’ll collect state and local taxes from your short term transactions, ensure they’re filed in accordance with appropriate filing schedules, and provide reporting.
Best of all, there’s no cost to giving it a try. Our fees are built into each stay, meaning we don’t make money unless you make money. We support nightly stays as well as extended stays (30+ night stays/leases).
We’ll help you embrace the sharing economy on your own terms, with the protections you demand, in a smart and profitable way.