RealPage’s Migo Unlocks New Revenue Streams

Migo by RealPage, multifamily’s first apartment home sharing solution, allows property owners to monitor and share in the revenue for their residents’ home share transactions. For every booked night, owners get a percentage of the booking, providing another path to yield. RealPage partnered exclusively with Airbnb to launch this apartment home sharing solution; making it easier to for residents and apartment owners to safely share their available spaces on Airbnb. Migo not only supports residents listing their units, it also allows properties to select unoccupied or designated for short-term rental units to list. Some multifamily property owners have found that some units, particularly those with less desirable views, generate more income through short-term rentals than a standard lease. In addition to receiving revenue from home sharing transactions, property owners can expect to see other benefits, as well. Todd Butler, VP of Home Sharing at RealPage, says that property managers that offer home sharing as an amenity will see higher stabilized occupancy, faster lease ups, low cost per lead for tenants and increased prospect traffic. In other words, Migo provides both short and long-term results. Migo is also attractive to investors and developers in urban cores. For those properties with high walkability and regulations that allow home sharing, Migo can be an amenity that supports an overall investment and profitability model. It’s all about flexibility Many residents lead lifestyles that take them away from home on a regular basis. Some, such as flight attendants or those in sales, travel often for work. Students, and in some cases professors, leave town during academic breaks. And some simply travel for leisure whenever they get the chance.  Migo provides them with the flexibility to share their homes when they are not using them. In doing so, they can mitigate up to a third of their rent each month. Property owners do retain the abil...