ThreeStay, the Virtual Front Desk for Rental Property Owners

October 13, 2013

10:00 am

Murphy’s Law states, “Anything that can go wrong, will go wrong.” It might seem a bit pessimistic at first, but think about all the times that something has gone completely in your life wrong when it was supposed to go right.

Alexander Diner and Alexander Mologoko experienced Murphy’s wisdom firsthand when they tried to enjoy a weekend of skiing with friends in Lake Place, New York. They had a vacation reservation booked through VRBO and were scheduled to arrive late on a Friday night.

However, like most places in upstate New York in the winter, the weather was treacherous, and it slowed their travel. Unable to reach the property owner, they arrived hours past schedule to find the front door locked and nobody to let them in.

When they finally got in contact with the owner, she explained that she had left the front door unlocked, but it was not opening: Murphy strikes again. They finally got into the house during the wee hours of the morning after the owner drove back to let them in; this just about ruined the entire weekend for the group.

“You cannot just walk into a vacation rental property,” says Diner. “Somebody has to let you in, and that means meeting you there or mailing you the keys.”

When they discussed the failed trip during happy hour the following week, the group realized that this was not a onetime occurrence but rather a common issue. Diner and Mologoko knew they had no control over certain things, so they did the next best thing to help vacation renters with the creation of ThreeStay.

To eliminate this issue, Diner and Mologoko developed digital locking mechanisms with remote control capabilities. They are installed like standard bolt locks, but they are opened with unique codes that exist only for the duration of your stay at a home; owners never have to fear key copies again.

In addition to that, they analyzed their key competition and recognized a twofold system being appropriated. Typically, vacation rentals offer property cataloguing and payment processing. What they fail to offer, and what ThreeStay does offer with its virtual platform, is remote access management in addition to the other two.

“Property owners on vacation in Tokyo can, without intermediaries, allow access to their Vermont vacation house in seconds,” says Diner.

To ensure that their efforts to establish ThreeStay as distinct in a market saturated with competition, Diner and Mologoko have secured low-cost, quality construction of the digital locks. Without losing any of the functionality, they can sell the locks three to four times cheaper than similar ones on the market.

ThreeStay is very much a fledgling startup still, and the team recognizes that the amount of work that lies ahead of them is enormous. But the platform was born of a real experience that they always remember as they attempt to create a virtual front desk for vacation rental property managers.

ThreeStay was featured at Tech Cocktail’s New York City Mixer & Startup Showcase on September 18th. 

 

 

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Will is a Senior Writer with Tech.Co, based out of America's Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He's the resident Android junkie and will be happy to tell you why you should switch to the OS. When he's off the clock, Will focuses his literary talent on the art of creative writing...or you might find him surfing in Ocean Beach. Follow Will on Twitter @WJS1988

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