As a landlord, you're aware that among your tenants the temptation of becoming an Airbnb host using your property to make thousands of dollars a month is a strong one.
As the demands of the modern renter evolves and changes, it might be time to stop just fighting this appeal, and embrace the change in demands, and to start to make money from it? Let us explain…
Most likely your leases prohibit your tenants from conducting short-term rentals without your written permission. And in San Francisco, there are additional requirements your tenants need to meet before they can register your property to host. Letulet will be the trusted third party who makes sure your interests are protected, the tenant be the most respectful host they can be and they fully comply with San Francisco’s short-term rental regulations.
With Letulet, your tenants can formally establish a secure revenue sharing arrangement with you so you can participate in the revenue they make being an Airbnb Host in exchange for your ongoing agreement to that hosting. Firstly, this is done through Letulet's real estate attorney-approved Addendum to your rental agreement. This Addendum is provided to you free by Letulet. Secondly, Letulet receives from Airbnb a constant information feed of how much, when, and where your tenants are making money hosting. This is done because Letulet is in partnership with Airbnb for direct information exchange.
Once Letulet is aware that money is due to you, we automatically transfer from your tenant's bank account to your bank account the agreed-to percentage of each Airbnb payout. You do not need to track this information down and wonder if you are getting a fair shake. Think of Letulet as the trusted liaison who has your interest in mind to facilitate a fair and transparent arrangement with your tenant. Keep in mind, Letulet was founded by a landlord to finally provide solutions to enable fair home-sharing partnerships, and done using a trustworthy framework that landlords can finally buy into.
There's five major advantages for you to letting Letulet manage this for you, for free:
- You know who is hosting, how much and when. Our system enables you, the landlord, monitor the Airbnb activity of your tenants.
- You negotiate with your tenant the House Rules they have to enforce on Airbnb guests. Don't want guests using facilities meant for tenants? Put that into the House Rules, and enforce it by continuing to agree to let the tenant Airbnb host.
- Set the desired revenue split, and be paid a portion of your tenant’s Airbnb revenue after each booking. Together with our partnership with Airbnb, Letulet makes sure that your percentage is immediately transferred to your designated bank account.
- Insurance is in place, as you are automatically covered by both Airbnb's $1 million Host Guarantee and $1 million Host Protection Policy.
- The best part, Letulet is free for landlords.
With over 2 million guests staying with Airbnb hosts each night, and booking in the United States growing 45% a year, Airbnb, now a $31 billion business, is a fact of real estate life. Why not let select tenants host in a way that is compliant, that is monitored, and that increases your revenue too?
Letulet is the only company that provides this unique service to tenants and landlords, please visit our landlord landing page to learn more - and make more - today.