Operations @ Modern Midstay

Operations @ Modern Midstay

Modern Midstay is a real estate hospitality business that acquires, renovates, furnishes, and manages charming apartments in Denver’s best neighborhoods. With 55 units, we’re the largest owner-operator of mid-term (1-12 month) furnished rentals (aka MTRs as opposed to STRs) in Denver. Our typical guests are travel nurses, people moving to/from Denver, remote workers, and students. 

Since 2021, we’ve raised $8M in equity and acquired nearly $30M in real estate (half of which through a partnership in Detroit). Our goal is to scale our team and systems for our own portfolio and third party clients. In the coming year, we’re aiming to double the portfolio by expanding in Denver, Crested Butte (STR only), and our next MTR market.

Check us out @  Modern Midstay  |  Airbnb Profile  |  Furnished Finder Profile  |  Google Business

Read our 2024 Investor Letter to learn more about our business and portfolio.

Why This Role?  We’re building a vertically integrated MTR business and hiring an ambitious teammate to architect and manage Operations. It’s a great opportunity to get in at the ground floor of a small, but mighty real estate company and build/own a best in class Operations capability.

Operations Mandate:  Create a scalable hospitality and property operations system/team that delivers high-quality service at a low cost. 

Goals (to be refined together)

1. Deliver a great guest experience
2. Constantly drive operational efficiency, quality control, and a low cost structure
3. Help scale the business through new properties, clients, and markets
4. Build and manage a team of A+ part-time and third party contractors and partners

KPI (quantitative metrics and timelines TBD)

1. 5 Star review response rate and score
2. Guest/Repair issue frequency and resolution cost and response time
3. OpEx budget / cost reduction targets
4. Growth of business/portfolio

Scope

1. Hospitality operations
   1. Guest support - partner with Sales to respond to guest needs
   2. Cleaning and turnovers - manage our third party cleaning team and hourly inspector
   3. FF&E quality control - oversee quality and replacement of furniture, turnkey (aka kitchen and bath items), consumables, appliances, etc
2. Property operations
   1. Repairs & maintenance - leverage/grow our network of handymen and contractors
   2. Contract services - manage our landscaping, pest control, snow removal, porters, etc
   3. CapEx projects - bid out and manage larger repairs and renovations
   4. Licenses, inspections, insurance
3. Business operations
   1. Tech stack - use and improve our tech tools, evaluate new tools, and build our own systems. Key tools today:  Buildium, Breezeway, Slack, Airbnb, gSuite, Xero
   2. A/P & bookkeeping - pay contractors and partner with our Bookkeeper
   3. Procurement - order/inventory management for consumables and FF&E
   4. KPI reporting and cost management - manage your P&L

Note:  You’ll be responsible for a 24/7 operation, but the better our process and team, the less issues we’ll have on nights and weekends. In addition to our network of contractors that we’ve developed over the years, you’ll partner closely with our CEO, sales lead, part-time assistant, and bookkeeper.

You’re a great fit if you..

• Started or run an operations team at a startup or small business in hospitality, property management, or other B2C businesses that have a field services component
• Love to document process, organize info, and use technology to systematize operations. You constantly look to improve process and are highly organized with extreme attention to detail
• Are a great project manager and coordinator of partners, contractors, and teammates
• Prefer working autonomously and have confidence and good judgment to make decisions
• Are calm under pressure and can de-escalate and resolve guest issues gracefully
• Are curious and inquisitive and love to solve problems and learn new things
• Are a super user of productivity tools (CRM, Buildium, Breezeway, Slack, gSuite, etc)

Location:  In our Wash Park office for the first 3 months then flexible (office, home, in the field). Living in Denver is important for easy access to our properties and office