Vector Travel Guest Suite in Houston
Vector Travel furnishes and operates its tech-enabled hospitality suites.
Vector Travel, a leader in off-campus student housing short-term rentals and revenue-share partnerships, is launching a new program it calls Vector Guarantees. The tagline, "We Rent Student Housing," is a shift in its business model to offer student housing owners and long-term management clients guaranteed payments instead of variable monthly payments.
"Many of our clients and industry contacts wanted to leverage Vector's services to mitigate vacancy loss but were unable or unwilling to accept variable payments that accompany revenue share arrangements. Now, we have a solution for everyone in student housing with vacancy and they simply need to remember that we rent student housing," said Mickey Kropf, Founder and CEO of Vector Travel.
Vector Travel has national short-term rental data sets to generate guaranteed income offers to properties and portfolios in need of vacancy loss mitigation in whole units. Their operational systems and personnel travel anywhere there is demand from travelers and a path to operating legally.
Vector Travel's solution includes compliance, unit furnishing and setup, channel management, revenue management, guest services, housekeeping, and monthly payments to clients via ACH.
- According to AirDNA, U.S. short-term rentals sold 23 million room nights in July, up 18.2% year over year and 20.6% higher than the same month in 2019.
- Vector Travel simply needs property addresses and available unit mixes and can generate rent guarantee offers within 48 hours.
- Vector Travel has its own proprietary guarantees contract and strives to launch units within 2-3 weeks of execution.
Vector Travel is a tech-enabled hospitality company founded in 2018 to innovate the cross sections of technology and commercial real estate operations. Vector operates student housing, conventional multifamily, and hospitality assets across the country, and has managed 2,000+ listings to date across 25+ markets.
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Original Source: Vector Travel Launches Vector Guarantees