For Build to Rent (BTR) operators, maximising the value of their portfolio and driving incremental Net Operating Income (NOI) and resident satisfaction are crucial factors for success. In a landscape where 12-month leases have long been the standard, it becomes crucial to explore innovative approaches that cater to the evolving needs of modern residents while also driving business growth. This is where short stays come into play, revolutionising the industry and providing multifamily operators with the means to achieve their goals.
At Lavanda, we’ve witnessed a growing trend among BTR operators seeking a transformative change in their strategies. Short stays have emerged as a powerful enabler for growth, offering residents the flexibility they desire while propelling businesses forward. In this brief blog post, we hear directly from Russell Markou, Director of Operations at Quintain, to gain insights into the impact that Lavanda’s short stays solutions have had on their business.
Russell Markou’s testimonial is a testament to the power of Lavanda’s short stays solution, creating a win-win scenario for both residents and operators.
“Lavanda’s outstanding solutions for short-mid stay leases has truly distinguished them from other short-term let technology providers. Initially, we approached the partnership asking them to focus on a plan that ensures minimal disruption to our long-term residents and the Quintain Living operations team. Lavanda swiftly demonstrated their trustworthiness, reliability, and exceptional flexibility in accommodating our needs and very specific requirements. Their customer-centric approach and willingness to adapt to our requirements made them an ideal and seamless partner to work with.
Notably, Lavanda’s platform has benefited our existing residents as well by allowing their guests to visit them, when they couldn’t accommodate them within their own homes. This aspect has enhanced our residents’ experience and strengthened the sense of community.
Moreover, Lavanda’s impressive technology and intuitive dashboard provide us with real-time revenue and occupancy metrics, granting us easy access to essential data for efficient decision-making. This level of convenience, combined with the platform’s emphasis on security and choice, has empowered us to maximise our revenue potential while ensuring a seamless and exceptional short-stay guest experience”.
For BTR operators, the possibilities are limitless with short stays. By tapping into this lucrative market, operators can attract more residents, provided added benefits to existing residents and optimise their distribution channels, leading to increased NOI. The appeal of short stays lies in meeting the modern residents’ needs – they seek flexibility, freedom, and the ability to choose housing options that align with their lifestyle.
