Vacasa vs. Smaller player for Property Management

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Vacasa vs. Smaller player for Property Management

Tim Welker
Member since 2021 · 20 posts · 2 votes

Buying an STR Condo in Panama City Beach. The complex itself is managed by Vacasa and they push heavy to be the Property Manger of the unit as well. But, also have a smaller, boutique property manager I've consulted with as well. Obviously Vacasa has the scale, they are on-site, and offer a lot of start-up benefits. Any opinions, experiences, pros or cons out there that people would like to share?

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Collin HaysBusiness Member
Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
4y
Quote from @Tim Welker:
Quote from @William Beck:

What's the % Vacasa quoted and what's the local PM Charge? I know Vacasa does a different % based on market which could be worth looking at. 


 William, good to see a fellow Missourian respond.  They are both quoting me 18% at this point.  But, I'm learning more about how the big guys add on "processing" fees.  So far I've asked for references from both and only the customers for the "small guy" have responded to my e-mails with positive comments.  


[email protected]806-672-7102
SMOKY MOUNTAIN FALLS INC.51 Review
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  • Tim Welker
    OP
    Member since 2021 · 20 posts · 2 votes
    4y
    Quote from @Collin Hays:
    Quote from @Tim Welker:
    Quote from @William Beck:

    What's the % Vacasa quoted and what's the local PM Charge? I know Vacasa does a different % based on market which could be worth looking at. 


     William, good to see a fellow Missourian respond.  They are both quoting me 18% at this point.  But, I'm learning more about how the big guys add on "processing" fees.  So far I've asked for references from both and only the customers for the "small guy" have responded to my e-mails with positive comments.  



     Collin H.  thank you for sharing!

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  • Sunny Alexander
    Real Estate Broker · Tampa, FL · Member since 2020 · 103 posts · 74 votes
    3y

    Call them both after hours and see who answers! We are a small PM in Tampa and our availability cannot be beat. 

    1Reply
  • Lucie Tighe
    Property Manager · Tampa, FL · Member since 2022 · 147 posts · 66 votes
    3y

    I hear nothing but complains about Vacasa service from a lot of homeowners. I believe local smaller competitor will provide much better service and perhaps even for a smaller commission. 

    @Steve Lovelace provides extraordinary service up in PCB if you are up for more exploring and hire a true professional  looking after your property like its their own. 

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  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    3y
    Quote from @Sunny Alexander:

    Call them both after hours and see who answers! We are a small PM in Tampa and our availability cannot be beat. 


     I always tell people that Vacasa is a marketing company, not a property manager. Big difference.

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    That is the truth @Collin Hays. I just got yet another thick mailer with full color inserts about why I should use Vacasa. 

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  • Sunny Alexander
    Real Estate Broker · Tampa, FL · Member since 2020 · 103 posts · 74 votes
    3y
    Quote from @Collin Hays:
    Quote from @Sunny Alexander:

    Call them both after hours and see who answers! We are a small PM in Tampa and our availability cannot be beat. 


     I always tell people that Vacasa is a marketing company, not a property manager. Big difference.


     SO TRUE!!!!!!! 

    0Reply
  • William Beck
    Realtor · Branson, MO · Member since 2018 · 272 posts · 283 votes
    3y

    I think Vacasa is going to going to file for Bankruptcy. Check out the Skift article "After Sonder, Vacasa Receives Notice of Delisting from Nasdaq"

    Following that, Vacasa saw an increase of homeowner “churn,” namely properties abandoning its platform, in the fourth quarter and into 2023, and forecast that its average gross booking value per home would dip this year. Among a variety of glum forecasts the company officials made for 2023, Chief Financial Officer Jamie Cohen said Vacasa’s home count under management could decline in 2023, in part because of its sales force reductions, and shift in strategy toward signing up individual homes rather than focusing on acquiring portfolios of properties.

    1Reply
  • Matt Owens
    Investor · Coeur d'Alene, ID · Member since 2023 · 20 posts · 15 votes
    3y

    Generally, the bigger, the operation, the more diluted the services are. I have seen a few exceptions from companies that started by self managing their own vacation rentals, built the processes by leveraging tech, and created a culture that is service-minded. We are a boutique PM in North Idaho and are selective of the listings we partner with.  Lack of transparency and communication between the larger PM owners seems to be the biggest gap. We help our clients develop each property into a unique brand and go after a specific target market, so they can stand out amongst the competition, ultimately driving more cash flow. 

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