Challenge: Prove the benefit of short-term vacation rental returns to investor who is set on long-term rentals.
Pat and his family own a number of long-term vacation rentals. Living in NYC, Pat had his eye on a West Coast getaway that he could profit from. He bought this sun-drenched property in Seattle hot spot, Fremont. Pat had lots of experience working with vacation rental management services, but found that projections for this home fell short of his expectations. A friend and fellow investor introduced Pat to Better Vacations.
Initially, Pat was set on making this West coast dream home another long-term rental property. After the Better Vacations team analysis, he quickly realized that he’d reap more benefits from a short-term rental.
Pat needed a reliable team to keep his home in tip top shape. Not only for his guests, but also for occasional family getaways, since his sons went to school in Seattle.
After countless low revenue projections on his new home purchase, Pat met with the Better Vacations team. With customized revenue projections, Pat felt sure of his decision to embark on his first short-term vacation rental.
“Now I’m thinking ‘why did it take me so long to get involved in short-term rentals? Every time I come home to check on the property, I’m amazed at the improvements the Better Vacations team has made.’”
It wasn’t long before Pat placed his trust in the Better Vacations team, and just a few short weeks after, his prices were set and the home was already booked out for the following 3 months.
TIME WITH BETTER VACATIONS:
In 2018, Pat’s first full year with Better Vacations, he earned just over $210,000 on his Seattle property. Better Vacations helped Pat increase his revenue by 234% compared to what it would have earned as a long-term rental.
Pat can rest assured that his home is in good hands. He loves vacationing here and spending time on the rooftop deck with his family to escape the noise of the Big Apple. Since working with Better Vacations, he’s even transitioned one of his other properties to a short-term rental.