US: Software and data analytics provider, RealPage, is partnering exclusively with Airbnb to launch its apartment home-sharing solution Migo, which will make it easier for residents and apartment owners to share their space on Airbnb and benefit from home sharing.
Residents will be able to recoup a portion of their monthly rent depending upon how frequently they home share exclusively on Airbnb. Owners can differentiate their apartment offering and share the financial benefits of home sharing with their residents.
RealPage CEO Steve Winn said: “RealPage is very pleased to partner with Airbnb on this groundbreaking software and service. The business of owning and managing apartment communities is changing rapidly as residents now expect the freedom to live, work, and travel on their own schedules and share their space when they are away.
“The industry has long sought a home-sharing model that allows both owners and residents to participate and financially benefit without impacting existing residents or burdening management with extra work. Our exclusive partnership with Airbnb will make it easier for everyone to benefit from home sharing,” he added.
RealPage developed the Migo technology to provide a range of services – from access control and screening to noise monitors and cleaning – that historically have been cumbersome.
Residents will be able to use the Migo app to link their Airbnb listing to their community, grant remote access to guests, schedule room cleanings, communicate with Migo support, monitor their home-sharing performance, and more. Apartment owners can use the Migo app to gain insights into home-sharing activity, optimise under-utilised apartments, and better serve their residents.
Both owners and residents can confidently use these services, knowing they are backed by two industry leaders with decades of experience in real estate, travel, and technology.
Migo is designed to offer self-service and full-service home-sharing options.
With self-service, residents and owners can list their apartments or guest suites on Airbnb and self-manage all aspects of their Airbnb listing. With full-service, the Migo host team fully manages all aspects of the Airbnb listing for an additional fee.
Residents can home share for the number of days authorised by the apartment manager and in accordance with local regulations. Managers can designate which units are eligible for home sharing, and the new AI Revenue Management system from RealPage will adjust base rents based on demand for this service.
Jesse Stein, head of Airbnb for Real Estate, said: “Airbnb has long supported and enabled building owners and their residents to benefit from home sharing and we’re thrilled that we can continue this work with RealPage—the premier property management software provider with more than two decades of experience—in its launch of Migo.”
Migo is compatible with RealPage, Entrata, Yardi and MRI and will be available across the industry in the third quarter of 2021.
In December, RealPage entered into a definitive agreement to be acquired by private equity investment firm Thoma Bravo. The all-cash transaction valued RealPage, the parent company of vacation rental software provider Kigo, at around $10.2 billion, including net debt.
