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Hybrid Rental

It’s a known fact that long-term rentals help earn a stable income and short-term rentals help increase revenue. Property managers and operators wish to do both.

 

This is where Hybrid Rentals comes in – the ability to manage the nitty-gritty of both a short and long-term portfolio. We are thrilled to bring to you a full-fledged system that is capable of handling booking and lease management along with managing the accounts and operations associated with both of these types of stays seamlessly using 1 software.

 

Why did we introduce this feature? 

  • Multiple tenants, Different types of stays, Different move-ins/out dates, varying modes of operation:

Now imagine, an operator handling both long-term and short-term rentals:

Tenant Name  Duration of stay Type of stay 
Mary 15 months Long-term stay
Kishan  5 days Short term stay
Andrew 6 months Long-term stay
Chinag 29 days Short term stay
Urmi 18 months Long-term stay
Kenaz 3 days Short term stay

 

Property managers and operators face distinct challenges when managing both long-term and short-term rentals. 

While long-term rentals require:

  • Operators attention when it comes to financials and accounts management (Rent, Deposit, Charges collections and refunds). 
  • Consistent Operations (cleaning and other ad-hoc tenant ticket requests)

 

Short-term rentals require: 

  • Quick unit turnovers
  • Precise contract management to prevent overbookings and cancellations
  • Intensive marketing (to get more bookings) to prevent revenue loss. 

 

Balancing these differing demands can prove challenging. 

 

How we can help handle this?

Our system can handle and manage all the above nuances: 

When a booking comes into our system: 

  • Contract gets created on the system based on the length of stay and the future bookings to avoid cancellations or transfer of tenants between tenancy.

 

  • Unit Inspections can be tagged to the contract to ensure that tenants are aware of the type 

 

  • Rent and Deposit invoice created in one click from the contract 

    For Long-term contracts: You can create the first month’s invoice along with the deposit fee and any other one-time fee like Admin fee, Service fee, convenience fee etc.

    For Short-term contracts: A contract will be created on the system only after receiving the money for the period. Until then, the booking will remain “Pending” under the bookings tab.

 

  • PPM can be set up for recurring tasks (cleaning) 

    The above image depicts the series of tickets created for a 2-month contract for cleaning the unit. 

 

  • Channels are updated with availability based on the occupancy status

    Contract gets created on the system based on the length of stay and the future bookings to avoid cancellations or transfer of tenants between tenancy.

Based on this calendar view, operators can understand availability and our system will push this inventory to all the OTAs.

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