Today is ApartmentJet’s first birthday. When we launched, our goal was to introduce the multifamily industry to the short-term rental space in a way it hadn’t experienced before. Twelve months later, we feel well on our way, and we want to take a moment to toot our own horn, if that’s okay.
We launched last May with two pilot units located on the outskirts of small cities. Today we fill vacancies at hundreds of properties and work closely with many of the largest management companies in the U.S.
In the first year, we’ve booked thousands of reservations and earned more than a million dollars for our clients. Our reservations have ranged in length from one night to four months. We’ve handled over 25,000 messages between properties and guests, and we’ve sent nearly 150,000 email notifications.
We raised a successful seed funding round of more than $1.2 million. We’ve assembled a brilliant team of advisers who span both the multifamily and hospitality industries, giving us new insights into onsite needs, strategic client thinking, and lessons learned when dealing with transient populations.
We’ve developed key partnerships with big-name players: TransUnion for background screening and Assurant for risk-management. Their interest and enthusiasm has helped us deliver custom solutions for our customers. We’ve partnered with MyLodgeTax for Occupancy Tax Filing, TRNclean for key exchange and turn management in the Chicago area. Now we’re exploring partnerships in the smart lock and smart home space, so stay tuned.
We’ve strengthened our partnerships with Airbnb and HomeAway, who continue to work with us to improve integrations and create content that converts. We very much appreciate their support and encouragement.
“The success really feels like vindication,” says Eric Broughton, Co-founder and CEO. “We did our homework before we dove in. We talked to people in the industry. We got a sense for the problems they faced and the concerns they had about short term rentals. We used their feedback to build the best platform for multifamily, and our success really feels like a validation of that method.”
We’ve added team members in both Sales and Operations. If you haven’t heard from us, you will, but feel free to reach out whenever!
Our product and engineering team has delivered the best guest communications platform in the space. Our content and booking management tools continue to earn accolades for their focus on multifamily’s unique challenges.
We’ve constructed an entire suite of tools for our Operations and Concierge team, making it easier and more efficient to manage a large number of bookings across many portfolios.
Soon we’ll be delivering new reporting and analytics functionality, scheduled reporting, HomeAway integration, improvements to our Airbnb integration, and one rather big surprise coming this summer.
Without question, we’re thrilled with the success, and our success is our clients’ success.
ApartmentJet Year One may be in the books. We think Year Two will be even bigger. Thanks for joining us. And let us know what we could be doing better.