Vacation Rental Management Firm Vacasa Launches Multifamily, Short-Term Rental Arm
Want to get a jump-start on upcoming deals? Meet the major players at one of our upcoming national events!
Vacation rental management startup Vacasa is launching a new service aiming to capitalize on the further integration of multifamily and hospitality.
The company, headquartered at The Heartline building in Portland, Oregon, announced the debut of Vacasa Multifamily in a press release on Nov. 14. The new branch will partner with developers and property managers to optimize and manage vacant units for the purpose of listing them as short-term rentals on Vacasa.
The offering may remind some of Niido Powered by Airbnb, in which the home-sharing giant entered into a joint venture with Newgard Development Group to construct apartment buildings optimized for short-term rentals. Vacasa Multifamily differs in that it rents vacant units on a long-term basis from landlords to let to vacationers.
With the units it rents, Vacasa implements automation technology from NoiseAware, PointCentral and VirtualKEY to allow certain management functions to be performed remotely, without crossing paths with guests. Vacasa also will employ full-time staff to clean and maintain the units; employees will all be paid at least $15/hour, according to the release. To landlords, Vacasa offers its legal services to help navigate the increasingly complex regulatory environment for short-term rentals.
Vacasa will list those units on most major short-term rental sites, including Airbnb, Booking.com and HomeAway. In addition to its home market of Portland, Vacasa currently operates in Boise, Idaho, Chicago, Dallas, Houston, San Antonio and Seattle.