Sentral COO Lisa Yeh on the benefits of incorporating short-term rental models into standard communities.
Multifamily was supposed to be a temporary thing for her, but she fell in love with it as she experienced just how dynamic this asset class is and how it can generate consistent cashflow. Today, Lisa Yeh is the chief operating officer of Sentral, a property management company that offers any length of stay, and that recently expanded its portfolio to 10,000 units with a combined value of $5 billion.
Yeh is convinced that adding flex living to multifamily elevates the experience for both the owner and the resident. On one hand, the owner can attract multiple types of renters—including corporates or those in between homes—while the renter can enjoy the benefits of shorter lease terms.
READ ALSO: Inside South Florida’s Flex Living Landscape
“I really think that flex models are the next wave of modern living,” Yeh told Multi-Housing News Senior Editor Laura Calugar in this month’s episode of the Mission Success: Women in Multifamily podcast series.
But how exactly do flexible leasing models generate NOI increases today? Tune in now to find out more about the complexities of managing short-term rental inventories. Here’s what you’ll hear about in this episode:
- why Lisa chose a career in architecture and real estate development (1:13)
- what attracted Lisa to multifamily in particular (4:09)
- top benefits of incorporating flex living into a standard multifamily property (6:38)
- managing properties when resident turnover is high (9:28)
- adapting to increased demand for flex living models (14:18)
- increased costs and all the complexities of managing short-term rental inventories (17:17)
- how Sentral residents can earn money while they travel by renting their home (21:35)
- misconceptions about flex living (22:34)
- will competition in the flex living space increase? (23:56)