Real estate software and data analytics company RealPage, Inc. has selected PriceLabs as the preferred revenue management platform for Migo, a home sharing service and software publicly announced last month in exclusive partnership with Airbnb.
Migo, a comprehensive and all-inclusive platform, will allow multifamily renters and owners to earn revenue by sharing their apartments on Airbnb. Through Migo, residents can offset their rent and live more affordably with income from home sharing on Airbnb, all while following local regulations and community policies.
"We are excited to be working with the RealPage team on their vision to give residents the ability to live more flexibly. Migo is a much-needed solution to solve for home sharing in multifamily communities. Our solution will help residents to maximize the income they generate
from sharing their units on Airbnb and thereby reduce the financial burden of renting a home," says Richie Khandelwal, co-founder of PriceLabs.
Through a partnership with PriceLabs, a best-in-class revenue management platform for short- term rentals, Migo provides users a demand-based pricing tool that monitors the market and delivers highly optimized per-night pricing to maximize the revenue potential of a unit.
"Apartment residents are now demanding more flexible living opportunities and the freedom to live and travel on their schedule and make use of their empty apartment while they’re away. Migo's technology, and partnership with Airbnb, allows residents to do just that," says Todd
Butler, Vice President of Migo.
"Home sharing unlocks new revenue streams for not just residents but also for owners. Owners share in the income generated from resident home sharing and can better utilize vacant guest suites. Revenue-maximizing software is essential to delivering great results to our customers and we are pleased to team up with PriceLabs to provide this solution to owners and residents," Butler added.
Migo is compatible with RealPage, Entrata, Yardi, and MRI and will be available industry-wide in the third quarter of 2021.