Greystar signs as Urbandoor’s first corporate partnership syndicating hundreds of listings across the U.S.
SAN FRANCISCO – Urbandoor launched the first corporate and extended stay rental booking and management platform for the multifamily industry. Through the Urbandoor platform, multifamily owners can sustainably increase NOI by listing their unoccupied inventory direct to higher demand bookings such as traveling executives, relocating employees, as well as corporate housing providers booking for their own clients. Urbandoor customers now have the freedom to browse and book a variety of extended stay travel and relocation properties in 600 markets across the United States, including New York, San Francisco, Los Angeles, Chicago and more.
As Urbandoor's initial partner, Greystar is now syndicating and operating its national corporate housing rentals through Urbandoor's platform, allowing for Urbandoor customers to instantly book select Greystar properties in the San Francisco Bay Area, Los Angeles, Houston, Dallas and Austin areas.
"Our vision is a world where booking corporate and extended stay rentals is easy and this is a major milestone in our journey," said Urbandoor's CEO and Co-Founder, Erik Eccles. "With the Urbandoor platform, multifamily operators can now benefit from the fast growing corporate and extended stay rental market and get a better lens into the corporate business occurring in their communities. By connecting multifamily owners to higher demand bookings, owners will have the flexibility to more competitively price their vacant units, allowing for a substantial increase in profits. Once booked, the Urbandoor platform seamlessly allows multifamily companies to operate that inventory with their existing on-site teams."
Different from the 'sharing economy', Urbandoor integrates with multifamily's existing systems and enables quick setup of vacant apartments through its integrated furniture and utilities programs. With simple onboarding, multifamily owners and operators can make apartments available to Urbandoor's high-demand corporate bookings with minimal work.
"We are excited by Urbandoor's innovative ability to allow our properties to directly provide corporate housing options for our otherwise vacant units," said Greystar Founder, Chairman and CEO, Bob Faith. "Their technology makes booking the stay simple for their corporate clients and simple for our onsite teams handling the hospitality functions. The benefit to our properties is additional highly profitable marginal revenue from existing vacant units. Once we roll this out across additional Greystar markets, companies looking for corporate housing will have access to participating communities in our over 415,000-unit portfolio of apartments, which would give us the largest corporate housing inventory globally."
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