Why STR, Multifamily, and Flexible Living Are Converging

In this episode of STR Global Unlocked, Simon Lehmann speaks with Fred Lerche-Lerchenborg, CEO of Lavanda, about how short-term rentals, mid-term stays, and multifamily are converging inside the same assets.

This is not a tech pitch. It is a practical discussion on institutional real estate, operating risk, and why flexible living is becoming a core strategy for owners and investors.

Fred breaks down why legacy long-term rental systems fail at daily pricing and mixed inventory, why lease-arbitrage collapsed at scale, and how investor psychology, cap rates, compliance, and risk transfer shape real decisions.

The conversation also explores why Europe is moving faster than the US in flexible living, and what operators must get right before blending STR into multifamily creates value instead of backlash.

In this conversation, we discuss:

• Why residential real estate systems were never designed for flexibility, and how changing living patterns are forcing new operating models.
• Where traditional PMS platforms fail when short-term, mid-term, and long-term stays coexist in the same building.
• Why institutional capital evaluates flexible living through asset value protection, not revenue upside alone.
• How lease arbitrage broke down at scale, and when selective leasing can still work for smaller STR operators.
• What flexible living unlocks for student housing, build-to-rent, and urban development in regulated markets.
• Why risk, liability, insurance, and guest vetting become non-negotiable when STR enters multifamily environments.