PORTLAND, Ore.--(BUSINESS WIRE)--Vacasa, the largest vacation rental management company in North America, announced the launch of Vacasa Multifamily, a new initiative dedicated to building its rental inventory for guests seeking short-term stays in urban city centers. Vacasa Multifamily will partner with leading real estate developers and property managers to provide short-term rental management services for vacant units, resulting in stable and reliable revenue for the properties.
“The industry has seen an increase in guest demand for urban short-term rentals, and we’ve been approached by developers and property managers seeking our vacation rental management services,” said Joshua Viner, senior manager of Vacasa Multifamily. “We’re excited to bring our decade-long property management experience to the multifamily space and offer diverse inventory for business and leisure travelers, as well as families looking to stay in urban destinations.”
Vacasa Multifamily enters into long-term lease agreements with real estate developers and property managers that are looking to turn their vacant units into short-term rentals that adhere to regulations. From navigating complex local regulations and increasing operational efficiencies, to driving bookings and optimizing nightly rates, Vacasa Multifamily is there every step of the way for its partners.
“As the demand for alternative accommodations has grown, so has the opportunity for Vacasa,” said Eric Breon, CEO and founder of Vacasa. “The multifamily industry is on the rise and to be successful, property managers need to deliver a high-quality and consistent experience for guests, while providing stable revenue for building developers and landlords. What we’ve traditionally brought to the vacation rental industry, we’ll be offering in the multifamily space: provide great guest experiences and increased revenue for our owners.”
Over the last year, Vacasa has launched new programs and services to help homeowners and guests in every aspect of the vacation rental process. In July, the company launched Vacasa Real Estate to connect vacation home buyers and sellers with the most qualified local real estate agents. Earlier this month, Vacasa Community Association Management began providing management services to vacation rental homeowners through their community associations. Vacasa Multifamily is the next step in the fast-growing company’s evolution.
Real estate developers and property managers that enter into agreements with Vacasa Multifamily will be working with a trusted partner to drive stable revenue for the property or assist during lease-up. Additionally, partners will have access to Vacasa’s breadth of resources, including:
- Dedicated compliance and legal team: The short-term rental industry is evolving daily and it can be difficult to keep up with changing regulations. We work closely with our legal and compliance team to ensure we have the necessary permits and licenses for each unit.
- Property automation partners: Vacasa currently works with NoiseAware, PointCentral and VirtualKEY and will offer these industry leading property automation solutions in its urban short-term rentals. These technologies enable Vacasa to better screen guests and monitor noise levels without imposing on the guests’ stay, all while creating a safer, more secure experience for other residents in the buildings.
- On-site and local teams: In every market where Vacasa manages vacation rentals, there’s a local team of employees ready to care for our properties and serve our guests, homeowners, and partners. All full-time Vacasa employees are paid a minimum hourly wage of $15 and provided free health and dental benefits.
- Interior design experts: Vacasa’s in-house interior design team will work with developers to furnish rental units to meet guests’ expectations when booking an urban short-term rental. Our team can also work directly with developers to help design purpose-built rentals with travelers in mind from day one.
- Booking platform partnerships: Vacasa partners with the industry’s leading booking platforms – such as Booking.com, Airbnb, and HomeAway – to drive year-round bookings for our more than 10,600 properties around the world.
Vacasa Multifamily operates in seven urban markets, Boise, Chicago, Dallas, Houston, Portland, San Antonio, and Seattle, with more to come in 2019. To learn more about partnering with Vacasa Multifamily visit: www.vacasa.com/multifamily.
Vacasa is the largest vacation rental management company in North America and offers property management and other real estate services directly and through licensed subsidiaries. Leveraging industry-leading technology, Vacasa maximizes revenue for homeowners and its partners, and provides unforgettable experiences for guests. Founded in 2009 and headquartered in Portland, Oregon, Vacasa and its subsidiaries manage a growing portfolio of more than 10,600 vacation homes in the U.S., Europe, South and Central America, and Africa. In nine years, Vacasa has grown to more than 2,500 employees, has been honored as the Oregon Better Business Bureau Large Business of the Year and was ranked ninth on the Inc. 5000 Fastest-Growing Companies list. For more information, visit www.vacasa.com.