🏆 For Ultra-Luxury STRs Wander.com Property Management is Exceptional

[AJ Wong]

As a niche real estate broker on the Oregon & California Coast's with dozens of luxury STR sales, I've had the privilege of reviewing hundreds of active STRs books for investor client evaluations.

In five years I've come across three active 'Wander.com' properties that were offered for sale and the same amount that are eligible 'Wander worthy' properties actively listed. What is a Wander.com worthy property? In their own words, "The top 1% of vacation rentals generate 35% of revenue. With the best vacation rentals in one place, travelers only have one place to look when they book. Wander combines the quality of a luxury hotel with the comfort of a vacation home to create an experience guests love. 70% of Wander guests are affluent, with net worths exceeding $1M. They have a much higher repeat booking rate and lifetime value than average."

The take away is that for ultra luxury STR operators there are not many comparable services (at least on the northern CA and total OR coasts) that will drive as much occupancy, revenue or performance as I've seen them consistently provide.

Yes - the properties that they manage are truly exceptional experiences and it is difficult to gauge how well they might perform with alternative management but their reviews and reputation speak for themselves.

I'd say on average Wander managed homes produce nearly 35-50% more revenue than a comparable offering. I have one hard example on the North Coast that was producing $240Kish when it was offered for sale in late 2023 and now generates $330K+

Another that only sleeps 4 and consistently produced $175K that sold for roughly $1.75M and a top oceanfront producer on the southern coast that sleeps six and generates $320K.

At present on the entire Oregon Coast there are four homes that are eligible for Wander management - one is pending and two of the remaining three would be subject to a waitlist for a permit but well worth the wait.

One is an oceanview estate on acreage with a remarkable architectural styling on the north coast projected to produce $230K+ at at asking price of $1.8Mish and another in house listing on the north coast asking $1.649M that should yield $180K+/- in gross annual income. The final prospect is a $2M+/- direct water access estate on the southern OR Coast that projects well at $180K+ in gross annual income.

For luxury STR, 1031X or loop-hole investors a strong reference for performance would be a Wander managed home or a quick determination of whether the prospective property is eligible for their services. Keep in mind - they are protective of their existing rentals and rarely have more than one or two properties in each location.

[Renee Krystek]

Wow, thanks for sharing all of that! Super helpful info, especially for anyone looking to get into the luxury STR space on the coast.

Wander really seems to be in a league of their own. I’ve heard great things, but those numbers you shared really put it into perspective. It’s crazy how much more income some of these homes are making under their management.

It does make me wonder what actually makes a property Wander-worthy? Is it mostly design, layout, location, or a combo of everything? Even the property images on the home page (how some are live images) are dreamy. And have you seen anyone else come close to what Wander is doing, or are they kind of the only game in town at that level?

Appreciate you breaking it down so clearly. Definitely something to think about for anyone planning a luxury STR.