The Short-Term Rental (STR) market is a rapidly expanding, lucrative space that is projected to surpass $228.9 billion globally by 2030, at 10.8% CAGR Growth. Instead of fighting the rise of STRs with prohibitive lease policies, Management can capitalize on it.

With Letulet, Management possesses the transparency, ease, and discretion to capitalize on the STR market, enabling them to extract even more value out of their already leased apartments and increase tenant loyalty.

Here are some of the top benefits of offering STR as an amenity in your building:

• revenue generation for Management

• extract even more value out of already leased apartments

• STR rates far exceed rates that Management could charge for monthly rate and are not limited by rent control policies

• improved tenant loyalty as they can now offset living costs while living more flexibly

• competitive building amenity for attracting new tenants

• can leverage for negotiating longer lease periods from tenants

• additional incentive for tenants to pay rent on time or risk losing STR privileges

It is completely up to Management to decide which of their buildings and which of their tenants will be added to Letulet. Many Management Companies only grant STR privileges to tenants who sign longer leases or are always on time with their rent payments. To that end, STR becomes a powerful way for Management to incentivize positive tenant behavior and remedy key pain points like lease turnover and late payments.

Management always retains final authority.

When finalizing the STR Terms with their tenant, Management can make any stipulations needed to ensure the STR process is as secure as possible, such as minimum STR durations. Even then, Management has final approval over STR guest bookings, and can be as active or inactive in monitoring of STR books as they choose.

Management can revoke a tenant’s STR privileges immediately through the Letulet Management account dashboard.