Sep 18, 2023
In the ever-evolving world of real estate and hospitality, new trends emerge that redefine how we perceive accommodations. One such pioneering trend is the Standby program by Landing. But what is it, and why should property owners and investors sit up and take notice?
Unraveling the Standby Magic
At its core, Standby is a revolutionary program tailor-made for today’s fluid lifestyles. Scott Kelly, a CEO who champions startups, stumbled upon this gem when he was on the hunt for flexible living options. The Standby program enabled him to seamlessly move between rental units in various Florida cities, based on his ever-changing needs.
But Standby isn’t just about offering a roof over one’s head. It promises a holistic living experience. Landing ensures that each apartment under the Standby program is fully furnished, armed with kitchen essentials, comfy linens, and fresh towels, making every stay as homely as possible.
The Financial Upside
For anyone considering the financial viability of Standby-like programs, Kelly’s experience is illuminating. By choosing Landing’s Standby option, he saves a whopping average of $2,000 every month. For property owners and investors, this showcases the potential revenue streams and cost-saving models such programs can generate.
Why Standby Matters to Owners and Investors
Addressing a Growing Demand: With the extended stay sector ballooning at a rate of 11% annually and anticipated to hit the $132 billion mark by 2032, there’s undeniable demand. Standby and similar programs are strategically poised to capture a significant portion of this market.
Catering to the Modern Nomad: The rise of digital nomads, retirees seeking adventures, and location-independent entrepreneurs means there’s a growing demographic craving flexibility in accommodations. Standby addresses this demand head-on, making properties under such programs incredibly attractive.
Evolution of Contractual Commitments: Traditionally, extended stays were synonymous with rigid hotel contracts. The Standby model disrupts this by offering flexibility, indicating a market shift that property investors can capitalize on.
A Future-Ready Model: The increasing traction of programs like Standby isn’t just a fleeting trend. It’s indicative of a broader shift in living and working dynamics. For property owners and investors, understanding and investing in such models ensures they remain ahead of the curve, ready to cater to emerging market needs.
In conclusion, Standby isn’t just another program; it’s a beacon of where the future of accommodations is headed. For property owners and investors, comprehending the Standby model and its implications isn’t just beneficial; it’s essential to staying relevant and competitive in an evolving marketplace.
