{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"","title":"EP177: Providing Airbnb as an Amenity for Residents in Apartment Buildings","description":"As rental prices continue to rise, more and more apartment residents are tempted to enlist Airbnb to help cover the cost – with or without the landlord’s permission. Luckily, a growing number of landlords recognize that permitting short-term rentals could increase their profits and attract new residents to their buildings. That’s where Pillow Residential comes in. This new product offering allows building owners to offer the Airbnb option as an amenity for residents, and Pillow in turn gives landlords transparency regarding who’s in their buildings and a cut of the profits.
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\nSean Conway, Co-Founder and CEO of Pillow, has a huge passion for travel. After the sale of his first startup venture, Notehall, Sean backpacked all over the world, staying in Airbnb properties. Sean finds that he is his best self when he travels, when he has the opportunity to interact with other cultures, and he wanted to make it easier for others to afford to travel and feel that same human connection.
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\nSean launched Pillow in San Francisco in 2014 with the intention of taking the hassle out of hosting. The company has expanded to a dozen cities, providing short-term property management services and promoting the concept of global citizenry. Today Sean talks through the details of the new product, explaining why his team developed the amenity, how Pillow Residential benefits landlords and residents alike, and the demand he has seen for the product thus far. He also shares his point of view regarding the greatest challenges in the vacation rental space as well as his take on the future of the Airbnb ecosystem.
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\nTopics Covered
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\nWhy Sean developed the new product, Pillow Residential
\n•\tRental prices higher than ever (35-45% of income in some locations)
\n•\tLandlords willing to allow Airbnb, but calling for structure
\n•\tPillow Residential helps residents earn income while on vacation
\n•\tPrevents violation of HOA, lease agreement
\n•\tAllows landlord to feel comfortable
\n•\tWorks with city regulations
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\nThe benefits of Pillow Residential for landlords
\n•\tAmenity attracts residents
\n•\tProvides insight, transparency re: who’s in building
\n•\tIncreases applicant pool, occupancy
\n•\tOffers landlords cut of profits
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\nHow Pillow Residential works
\n•\tOpportunity assessment (gives landlord sense of what might earn)
\n•\tOne-hour onboarding session
\n•\tPillow creates landing page for residents
\n•\tPillow sends residents an email explaining new amenity
\n•\tResidents sign in through landing page, property manager monitors
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\nThe high demand for Pillow Residential
\n•\t110 signups
\n•\t60,000 units
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\nSean’s take on the greatest challenge the Airbnb ecosystem faces
\n•\tPillow has 200 SOPs
\n•\t80% of situations fall into top 20% of SOPs
\n•\tCreate standardization AND keep personalization
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\nSean’s conviction that the Airbnb ecosystem will continue to thrive
\n•\tAirbnb changing way people live
\n•\tMillennials embracing digital nomad lifestyle
\n•\tOpportunities for wide range of players
\n•\tRoom to grow in industry
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\nThe tools Pillow uses to manage client listings
\n•\tZendesk customer service software
\n•\tPrevious partnership with Everbooked (metrics, pricing)
\n•\tBuilt personalized internal tools for customers
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\nSean’s view of the Airbnb IPO
\n•\tWon’t change the landscape of short-term rental industry
\n•\t‘I’m fine either way’
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\nSean’s prediction of what’s next in vacation rentals
\n•\tConsolidation will continue
\n•\tbooking.com, Expedia and Airbnb will continue to thrive
\n•\tOpportunities for niche markets (i.e.: Innclusive, Mrbnb)
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\nConnect with Sean
\nPillow
\nEmail info@pillow.com
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\nResources
","author_name":"Freewyld Foundry"}