STR Owners Beware - Do NOT Work with Evolve If You Value Your Bottom-Line

STR Owners Beware - Do NOT Work with Evolve If You Value Your Bottom-Line

Rental Property Investor · Vero Beach, FL · Member since 2015 · 42 posts · 13 votes

My family and I got into short-term rentals this year and we thought things were going well but since the property was several states over, we had to rely on a virtual property manager. The one we chose was Evolve.

I know there have been a good number of debates on here as to which one to go with (Vacasa vs Evolve for instance), and I can safely say that I would avoid Evolve at all costs if I were to use them again in the future. Their lower percentage to manage is enticing at first but they cost us thousands of dollars because of horrible mismanagement and bad enforcement of their own policies and terms and conditions. I've been putting reviews of them to try and prevent someone else from losing profits from their bad management and if I could provide 0 stars I would. 

The two largest incidents that happened were when they miscalculated over $700 in missed taxes that they never charged the customers, then as we talked to them about correcting the issue they told us we were essentially out money ourselves. The last straw was finally when we had a guest not cancel, not notify us at all that they weren't going to be staying over our peak season (Christmas week) totaling nearly $600 for a few days. We then got a chargeback despite Evolve's rental agreement stating no refunds with no notice and then they pulled the money back out of our accounts. DO NOT ever work with Evolve. 

Vacasa seems like a much better alternative and will be who we work with in the future.

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Real Estate Agent · Los Angeles, CA · Member since 2022 · 137 posts · 106 votes
3y

One of my mom's favorite sayings - "Lo barato cuesta mas". 

Translation - "Cheap costs more".

I think the order of preferred management is as follows:

1. Self Managed - do it all. 

2. Self Managed with support - hire what support you need. Interior design, marketing, cleaning, etc. Pick what you don't have the knowledge or bandwidth for and find quality help. 

3. Local Manager - can typically offer partial support for "2" but is also designed to be full service. Fees will vary and you'll have to work with several if you scale, but their local contacts, knowledge, and smaller books of business provide better results. 

4. National Manager - can be great for helping create a similar process as you grow your portfolio. Don't plan on "economies of scale" here. They will still use local vendors so your costs won't compress because of their nationwide presence. 

See this reply in the discussion

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  • USA · Member since 2022 · 879 posts · 109 votes
    3y

    FYI Awning rates start at 15% of revenue for full-service management

  • Ryan MoyerBusiness Member
    Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 991 posts · 1k+ votes
    3y
    Quote from @Matthew Spiers:
    Quote from @Michael Baum:

    Hey @Matthew Spiers, Vacasa isn't much better IMHO and from what I have read. They used to be pretty good when they were small and local, but now... Essentially you would be trading one frying pan for another. 

    Plus you aren't going to be paying 10%, but more like 30%.


    That was what originally steered us away from them. The 30% is honestly insane in my opinion for what seemed like an equal service offering from Evolve.

    Evolve is a booking platform, Vacasa is a property manager.

    The only thing that's equal about them is that they're equally sucky at what they do, but they offer very different things.  Evolve's entire business model is to take a lower commission and only handle the non-PITA part of management (getting the bookings and pre-checkin communication).

    Cosmic Vacations4.9174 Reviews
  • Member since 2023 · 2 posts · 1 vote
    3y

    @Matthew Spiers

    Matthew, 

    So sorry you had to experience this, and it really is a travesty how low the bar is for these property management companies. 

    I have started helping my brother grow his property management business, and have started with qualitative research, trying to get a sense of the state of the market and the customer experience. What I have found, is that pain points abound, and these big management companies cannot provide a truly high touch experience for owners or guests. 

    We specialize in the Smoky Mountains, but I would recommend finding someone local, as the boots on the ground is really essential to success as far as what I've noticed.


    To Your Success,

    Nick


  • Rental Property Investor · Vero Beach, FL · Member since 2015 · 42 posts · 13 votes
    3y
    Quote from @Nicolas A Mencia:

    @Matthew Spiers

    Matthew, 

    So sorry you had to experience this, and it really is a travesty how low the bar is for these property management companies. 

    I have started helping my brother grow his property management business, and have started with qualitative research, trying to get a sense of the state of the market and the customer experience. What I have found, is that pain points abound, and these big management companies cannot provide a truly high touch experience for owners or guests. 

    We specialize in the Smoky Mountains, but I would recommend finding someone local, as the boots on the ground is really essential to success as far as what I've noticed.


    To Your Success,

    Nick


    I totally agree. With my background being more in the long-term rentals and seeing the benefits of having a local, high-touch management company and then going a full 180 to these larger management companies it's just not worth it. Some charge an arm and a leg but it seems like a good number of companies out there locally can still work with you based on the services they offer. 100% recommend someone local if I were to stay in the STR "game."

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