From Vacant Unit to Vibrant Home: Barsala’s Contribution to Multifamily Developers

At a time when the real estate buzzwords are ‘innovation’ and ‘flexibility’, two industry leaders, Michael Monu, Founder and CEO, and Michael Copley, co-founder and CTO of Barsala, have unlocked a new revenue stream for multifamily developers. As vacancies are becoming a significant concern for multifamily developers, Barsala emerges as a sound solution that enables developers to earn income on what would otherwise be vacant units. This simultaneously supports multifamily developers while also introducing a new enhanced form of accommodation for travelers across the United States.

Barsala centers its unique approach on assisting multifamily developers during the critical vacancy phase of new property developments – a period notorious for financial stagnation due to empty units. Moving away from the outdated master lease model that once dominated the industry, Barsala has pioneered an innovative management agreement solution. This approach not only guarantees the monetization of vacancy but also offers a more flexible usage of assets, revolutionizing traditional property usage norms. According to Michael Monu, this business model not only boosts developers’ income from otherwise vacant units but also activates their communities. Emphasizing the transformation, he said, “We’ve changed the map by expanding the uses of an asset that was traditionally rigid. Whether someone desires to stay for a week, a month, or even a year, our approach makes that possible, adapting to their needs while enhancing the financial performance of the property.”

Michael Monu adds, “We pioneered a cycle resistant partnership model that continues to thrive even in the face of an unforeseen market shock like the COVID-19 pandemic. We believe in the necessity of flexibility for success in this highly dynamic sector.”

While Barsala addresses the developer’s dilemma, it doesn’t lose sight of its end customers – the guests. The company’s tech-enabled approach has allowed them to elevate the extended stay experience significantly. Barsala’s guests enjoy well-designed accommodations that boast upscale amenities while retaining the comfort and convenience of a home. This mix makes the company an appealing choice for a broad spectrum of travelers, ranging from business professionals, to traveling nurses, to vacationing families and more.

Leading the tech side of Barsala’s operation is co-founder Michael Copley, whose focus on innovative application development has been vital for the company’s growth. “As we navigate the future of the real estate industry, our commitment is to create a sustainable product that developers can take from building to building giving them peace of mind that their property will be a success. We’ve done a great job executing on this unique market opportunity through our tech-enabled approach, and our platform is built to support the long term growth of our exceptional hospitality experience for our guests and our profitable solution for developers,” Copley shares.

Since inception, Barsala, fueled by seasoned investors and its unique business model, has been able to expand rapidly, operating 128 properties nationally. Continuing to partner with top multifamily developers, it has positioned itself as a preferred choice for multifamily developers seeking to maximize their net operating income throughout the lease-up stage. 

Barsala’s systematic approach to tackling multifamily unit vacancies embodies the resilience and adaptability favored in today’s real estate market. As the company continues to deliver this innovative solution, the vision it holds is clear: transforming vacant units into vibrant homes, one building at a time.