1. Commission & Costs: Please explain your commission structure and any additional costs a homeowner might incur.

We take a simple 10%, you keep the rest.This is half of what I’ve paid previous management companies and less than half of what others are charging.Plus a $50/mo software feeTo cover the software, tools, and technology needed to operate your properties. We are always exploring the best available resources, and we may choose to switch up your tech stack to better manage your properties, but with scaled pricing from our combined listings you’ll always save on software fees.

2. Marketing: Please detail the strategies you utilize to market properties to guests.

Our current marketing strategy involves:A direct booking websiteEmail marketingWebsite sign upPromotional emailPost-stay emailStayFi - only in select MTS propertiesMagnets in properties leading to a direct booking website

3. Cleaning & Maintenance: Please outline your property management services, including but not limited to cleaning, inspections and maintenance.

While we do not provide a housekeeping and maintenance team, we do offer the option to coordinate with your team, and help monitor cleaning and maintenance tasks.My team will create a custom housekeeping checklist using our software for each property that your housekeeper will submit at each turnover to ensure nothing gets missed.The software will automatically schedule and assign cleaning tasks to the housekeepers and send reminders.

4. Communication & Reporting: How do you communicate with homeowners and what types of reports do you provide? Who will I be working with on your team? Will I have a dedicated representative or a team approach?

Midtown Stays Partners will have access to their Owner Portal where they can view their calendar, reservations, and monthly payouts. We also have a dedicated private Slack channel with our team who is ready to address your concerns and requests.We have multiple teams that handle your property and each team has a point person that will provide partner support

5. Financial Management: Please discuss how you handle financial management for the properties you manage. Do you follow trust accounting principles?

We offer a different management approach where we're able to charge a discounted fee and handle the majority of the work, but we’re virtual and we can work in any market.We will receive all payments on your behalf so we can easily handle any payment issues and resolutions without your involvement.You’ll receive a direct deposit every month.We’ll even calculate your STR taxes owed each month.

6. Technology: What kind of technology do you employ and how does this technology provide benefits to both homeowners and guests?

Here is what we use on the backend:Hostaway Property ManagementCustom Hostfully GuidebooksLockstate Lock Automation SoftwareBreezewayPricelabs & Analytic Market DashboardsSign Now Digital SignaturesWordpress & Secure Website HostingReolink security camerasZapierSlackNotionPhone.com to easily route calls from your propertyStayfiMinutActiveCampaign

7. Differentiators: What unique aspects set your company apart from other property management companies, especially in terms of advantages to homeowners?

We are hands on. We have a small team of rockstars dedicated to your property to ensure each and every listing of our partners are onboarded properly and all guests are accommodated warmly and professionally.

8. Guest Damage: What is your approach to managing damages caused by guests? Do you require a security deposit or offer damage insurance? If you opt for insurance, how do you establish the coverage details?

Unlike other companies our management approach is slightly different and we provide a lot of flexibility for our management partners. We use security deposits, and we offer damage insurance based on the property.

9. Revenue Management: Please explain your strategy for revenue management? How do you determine pricing to optimize earnings? Do you utilize dynamic pricing software, manage rates manually, or employ a combination of both methods?

We use Pricelabs, we use it to set dynamic pricing, market research, comp sets, and much more.

10. Community Involvement and Reputation: Are you involved in the local community and do you support local initiatives?

Our company is primarily virtual, so direct community involvement in a traditional sense isn't our focus. However, we do believe in supporting the broader community of property owners and hosts we work with, no matter where they are located.While we may not participate in local initiatives physically, we are committed to fostering a strong online community. This approach allows us to share knowledge, offer support, and create a network of resources that benefit property owners globally.We also emphasize ethical business practices and responsible hosting to ensure that our operations positively impact the communities where our properties are located. We encourage and assist our property owners in being good neighbors and responsible members of their local areas.

Midtown Stays

VERIFIED

In Memphis, Tennessee, 38104-2620

Number of Full Time Employees 20+

Owner 5.0 (3)

4.7 (6936)

4.1 (247)

4.5 (4)

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Overview
Reviews (3)

At MidTown Stays, we specialize in providing top-notch accommodations in bustling city centers. Our properties, strategically located in Midtown areas between downtown and uptown, offer a perfect blend of business convenience and local charm. Expect fully equipped kitchens, cozy linens, and thoughtful amenities in each of our apartments, ensuring a homely experience, whether you’re a business traveler or a leisure seeker. For property owners, partnering with us means alleviating the stress of property management. We handle everything from maximizing occupancy rates across major platforms to offering 24/7 guest support. Our approach is about replacing yourself in the daily operations, letting you focus on growing your portfolio without sacrificing quality or personal time.

What We Offer

Trust Accounting

Property Inspections

Revenue Management/Dynamic Pricing

Local Ownership

Guest Screening/ID Verification

Guest Damage Insurance/Security Deposit Insurance Program

Local Support 24/7

Keyless Entry Provided

SmartHome

No Startup Fees

Property Manager Supplied Metrics

Properties

$352.53

Average annual daily rate

62.75%

Average annual occupancy

Property By Type

Homes

10%
Condos

87%
Other*

3%

Property By Bedrooms

3 Bedrooms

7%
2 Bedrooms

20%
1 Bedroom

73%

Please note that these metrics have been supplied directly by the vacation rental manager and have not been independently verified by Comparent or any other third-party entity. While we strive to present the most accurate and reliable information, Comparent disclaims any responsibility for the accuracy of these metrics.

Airbnb Metrics

Properties

$98

Average daily rate

63%

Average occupancy

Property By Type

Homes

17%
Other*

83%

Property By Bedrooms

4 Bedrooms

4%
3 Bedrooms

4%
2 Bedrooms

18%
1 Bedroom

74%

VRBO Metrics

Properties

$227

Average daily rate

38%

Average occupancy

Property By Type

Homes

80%
Other*

20%

Property By Bedrooms

6+ Bedrooms

7%
4 Bedrooms

12%
3 Bedrooms

7%
2 Bedrooms

47%
1 Bedroom

27%

The metrics and data displayed above are sourced from publicly available information. While Comparent strives to ensure that this information is reliable, please note that the data is not guaranteed for accuracy and should be independently verified. We disclaim any liability for any inaccuracies or omissions in these metrics.

Midtown Stays Reviews

Submitted by Jordan P on 12/27/2023

Everything you need in a property management company

Cleanliness

Financial

Maintenance

Responsiveness

Service Rating

They've been managing two of my properties for a few years now and I love how they made everything so easy for me. They're virtual, but honestly, everything feels super personal. Feels like I have a buddy in the property biz.

Submitted by May on 12/27/2023

Super reliable and professional property management

Cleanliness

Financial

Maintenance

Responsiveness

Service Rating

Submitted by Sarah R on 12/27/2023

Top-Notch Service

Cleanliness

Financial

Maintenance

Responsiveness

Service Rating

Wasn't sure about a virtual company, but wow, Midtown Stays nailed it. I've been with them for 3 years now and I'm planning to continue working with them for sure. They handle the payments and even the boring tax stuff. Had a question, pinged them on Slack, and got a super quick answer. They make renting out my place a breeze.