AgentTechnology

Pillow launches short-term rental management platform for landlords, tenants

Through the Pillow platform, building owners and residents can temporarily rent out units without breaking the rules
  • Short-term rentals are fraught with legal issues; Pillow is designed to help landlords and tenants navigate these choppy waters.

While reportedly half of short-term rentals are in apartment buildings, many, if not most of these units, run afoul of some rule or another. Armed with an additional $13.5 million in funding, Pillow, a short-term rental management service, has released a platform to help landlords and tenants walk the line -- while milking units for extra cash. Pillow Residential lets apartment-building owners either directly rent out vacant units on a temporary basis or provide a controlled environment under which their tenants can do the same. Pillow Residential tenant dashboard When renting directly, landlords pay Pillow a management commission ranging from 10 to 20 percent. Tenants who use the platform fork over anywhere from 5 ro 20 percent of short-term rental revenue to their landlord, as well as a 10 to 20 percent commission to Pillow. The service essentially allows landlords to add an amenity to their buildings -- permission and support for tenants to rent out their units short...