Ask most any renter who has done it, and they will likely tell you they prefer asking for forgiveness later…
What are we talking about? Airbnb of course!
Most renters would rather just do it in secret than disclose to their landlord they’ve been secretly sub-letting out a room for money to strangers for nights at a time. But with recent stats showing that more than HALF of 25-34 year-olds want the ability to home-share their apartment units, it’s clear this issue isn’t going away anytime soon. If only more landlords realized the deep rooted fear of a tenant to “ask permission” upfront to make a profit before signing a lease, after-all its the landlord that is supposed to be the one who is savvy about making money off of an asset they own, right?
With home-sharing as one of the fastest growing billion dollar industries in the world many landlords could be leaving a lot of money on the table if they don’t figure out a way to incorporate this into their business model. And in today’s technologically advanced world of home-sharing and the sharing economy, where at the tap of a button someone can start a successful and profitable home rental business on their phone, isn’t it the Landlord who needs to adapt?
The reality is most landlords don’t want to be bothered by the day to day nuisances of managing short-term rentals (that’s why they are in property management after-all and not the hotel business), but now there is a solution to work with tenants to track and profit-share the entire model so that they can safely and effectively have a slice of the home-sharing pie.
In the Letulet online platform, Landlords are generating stable income from tenants renting out their places on Airbnb AND also earning income off this money-making side-business. Essentially, Letulet, establishes a set of fair standards and practices so that tenants and landlords don’t have to work it out themselves. No more tenants renting without permission and no more landlords jacking up rent to try to gain a profit.
Letulet is the truly the first creative solution I’ve seen that bridges the tenant-landlord gap and creates a win-win for BOTH parties. It takes care of both the tenant and landlord with real-estate approved agreements and automatic payouts that are given to both parties. Letulet was developed by a landlord, Mark Henderson, who’s tenants tried to hide the fact they were doing Airbnb. He realized that his renters were afraid to to ask him for favors and didn’t want to have to be penalized or pay more rent. Letulet was designed with the intention to help renters and landlords come to a favorable resolution.
- Mutually Beneficial: The interests of both parties are aligned: when tenant makes money hosting, Landlord makes money too.
- Pay Only When You Make Money: Tenant is in control of hosting schedule. Landlord only gets paid when tenant hosts guests and gets paid. In other words, tenant doesn’t have to pay when they aren’t hosting so they can take a break for a week or month as needed or agreed.
- Easy Automated System: As agreed, Letulet automatically deducts landlord’s percentage and deposits it into their account after Airbnb payouts.
- Worry-Free Tracking: Letulet tracks expenses and transactions for the Landlord (think tax deductions), including the small percentage (4.5%) that goes to Letulet.
- Got Your Back: Letulet acts as a liaison between both parties.
Bottom line: Letulet gives the tenant professional footing to approach landlords in the business of Airbnb but it also reassures the landlord that this is a viable business model. From making the first critical proposal, to defining house rules everyone can live by, to automating revenue sharing, Letulet serves both parties their fair slice of the home-sharing pie.
In my opinion, its GENIUS!
Stay tuned for the podcast with Letulet coming soon…