Frontdesk is excited to announce the transition of the Portfolio Management team to the Partner Success team! This initiative exemplifies the shift in focus from traditional master lease agreements with multifamily partners to revenue-sharing agreements and White Label management services. With this new focus, we are motivated to maximize revenue sharing opportunities and increase NOI for our partners across the Frontdesk portfolio.
What does this mean for our current partners?
There will be no change in terms of the service we provide to our current partners. Frontdesk will continue to provide white-glove management services. This newly formed team will enhance the Frontdesk standard. Our concentration on developing a more streamlined and revenue-conscious business model enables the Partner Success team to focus on developing new and improved ways to benefit our partners.
What are the differences between a Portfolio Manager and a Partner Success Manager?
Our number one goal is to keep our partners happy. This transition enables the Partner Success Team to expand and nurture this responsibility. Not only is the Partner Success Manager the liaison between property management and Frontdesk’s guest experience team, but they are also focused on collaborating with multifamily property owners to optimize revenue for both parties.
Portfolio Manager
- Management of Traditional Lease Models and Renewals
- Onboarding Utilizing Partner Portals
- Liaising between property and guest experience
- Portfolio evaluation, negotiating renewals
Partner Success Manager
- Management of Traditional Leases, Third-Party Management, and Revenue Sharing Agreement
- Onboarding partners specific to the form of their agreement
- Liaising between property and guest experience
- Analyzing revenue data, market and listing information, and other data in order to make recommendations to improve NOI for ownership
- Evaluation of current partnerships and possible conversion to a more profitable business agreement
- Reporting revenue and paying out RevShare partners, in addition to making recommendations for improvement
What is Revenue Sharing (RevShare) and how is it different from a traditional lease model?
We approach each opportunity uniquely and specifically tailor RevShare agreements to maximize NOI for our partners by sharing a percentage of revenue in lieu of monthly rent. RevShare is ideal for multifamily property owners who wish to earn above market rate while simultaneously improving their occupancy. With great reward comes great risk, and our RevShare partners share more risk than our traditional master lease partners. The Partner Success Team is there to support, advise, and improve partner takeaway.
While there is risk associated with a RevShare agreement, our highly-specialized Revenue Management team and proprietary pricing algorithm continually optimizes nightly rates. We outperform the competition by an average of 16.5%.
*Average of 7 properties that were shared with our largest VC-backed competitor from 1/1/2019 – 3/31/2020 in Charlotte NC, Columbus OH, Dallas TX, and Indianapolis IN
**Average from top 75th percentile top earning hosts on Airbnb in the same four cities (Charlotte NC, Columbus OH, Dallas TX, Indianapolis IN)
What is Powered by Frontdesk and how is it different from a traditional lease model?
Powered by Frontdesk is ideal for partners who desire shared responsibility with their short-term rental units. We enable our partners to manage their short-term rental units through Frontdesk’s proprietary technology. We offer both a White Label Management Platform and a White Label Management Platform + On-Site service. Services offered in these agreements include, but are not limited to, listing optimization, distribution on channels chosen by partners, guest screening and risk scoring, revenue management with a proprietary pricing algorithm, guest experience (chat, SMS, phone, and email), and reputation management.
For more information about Powered by Frontdesk, click here.
THE FRONTDESK STANDARD
Criminal Background Screening
Identity Verification
Secure Building Access
Guest Risk Scoring
Certified Staff
Partner Portal
Insurance Protection
Resident Discounts
24/7 Compliance Enforcement
24/7 Active Noise Monitoring
24/7 Boots on the Ground
Partner success is just the beginning. At Frontdesk, we value safety, security, and comfort above all. We offer the same 12-point trust and safety standards to all Frontdesk partners.
