NoiseAware Eclipses 1 Million Protected Short-Term Rental Stays
Relaxed COVID travel restrictions surge rental demand; wave of new investors entering industry underscores need to prioritize property and community protection
DALLAS, April 21, 2021 /PRNewswire/ -- NoiseAware, the leader in smart noise monitoring, has reached the milestone of more than one million short-term rental stays protected by its service. The achievement comes on the heels of the company's Series A fundraising and at the cusp of a historic travel season in which short-term rental bookings have doubled pre-pandemic levels1 .
Short-term rental analytics firm AirDNA cited March 2021 as the highest month of occupancy on record, and the months-to-come show a similar trajectory1. NoiseAware has observed rapid growth in requests for its service consistent with trends of increased short-term rental bookings.
The company's recent partnership with listing platform Vrbo® and its long-standing ties with Airbnb, Booking.com and the country's top professional property management companies have helped drive the growth, along with an abundance of new property managers entering the market.
"The one million stays landmark is fitting to have occurred this year, during a time when our services were needed more than ever," said NoiseAware CEO Andrew Schulz. "The passionate return to safe travel has been a pleasure to witness. It will be important for those renting out their homes for the first time to be prepared for the unique challenges of the business."
New inventory, new challenges
The attraction of record occupancy levels and traveler demand are leading to more properties entering the market of short-term rentals for the first time. Professional management company Frontdesk has doubled their growth rate between February and March this year with new clients looking to cash in.
"We are seeing more bookings than ever, even exceeding pre-pandemic demand despite our inventory being based in urban markets that were hit heavily by pandemic lockdowns," said Frontdesk Co-Founder Jesse DePinto. "The pent-up travel demand has impacted our business so much that we are adding five new cities to our supply portfolio this spring–New Orleans, Savannah, Philadelphia, Nashville, and Austin."
With such a strong influx of properties entering the market, it is important for those new to the business to recognize the need for reliable home protection services like NoiseAware. Proactive protection increases profits and peace of mind. After the previous lockdown lifts last year, an almost 50% increase in noise incidents and consequential property damage occurred.
NoiseAware provides a privacy-safe, enterprise-grade solution that assures a property is protected from nuisance issues that can affect the community around them. With NoiseAware's help, most (75%) NoiseAware customers mitigate disturbances in less than 15 minutes, and primarily through simple remote, automated communication.
"The Frontdesk brand has grown from a single apartment in Milwaukee, Wisconsin in 2017 to now over 600 units in 33 cities," added DePinto. "We did not achieve this growth without reliable monitoring services like NoiseAware. NoiseAware allows us to prevent incidents before they even happen–something that has proven to be vital in developing a trusted reputation within the communities in which our rentals operate."
"The need for property protection assurance is essential as the instances for noise issues arise," added Schulz. "NoiseAware stands ready to provide peace-of-mind to our partners that their homes and neighbors are protected."
To learn more about NoiseAware's smart noise monitoring solution, visit www.noiseaware.com.
1 AirDNA Market Review, March 2021
About NoiseAware
Developed by a rental property owner in 2015, NoiseAware was the first to enter the market with a solution to the number one signal of potential property damage – noise. The NoiseAware privacy-safe smart noise monitoring solution saves property owners and managers time and money, allowing them to maximize their Return on Rentals and minimize hassle and expense. The company has helped short-term rental homeowners and managers save $105 million in lost rental revenue due to noise disturbances. NoiseAware helps create responsible guests, good neighbors, and community harmony. To learn more visit www.noiseaware.com.
Media contact:
Madison Perry
972-951-5961
[email protected]
SOURCE NoiseAware
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