Time is of the Essence
Mackenzie earns more with LocalVR than other vacation rental management agencies.
Handling the day to day operations of a short term rental property can be a full time job when it comes to managing a big home like Mackenzie C’s 9 bedroom Highlands Ridge Retreat. From properly vetting guests to the constant maintenance upkeep, what can start as a fun project can start becoming a huge undertaking and feel like a drag after a few months. But often, owners persist in managing it themselves to retain their profit margins.
Mackenzie reached out to LocalVR to learn how we could help her take the load off her back, but make sure it wouldn’t come at the cost of losing a large portion of her income and to look for someone who would take care of her property with the same diligence she had.
Mackenzie lived out of town and had responsibilities outside of managing her property. Maintenance projects were being delayed and there were several inefficiencies with her pricing strategy. As full time property managers, LocalVR has invested time, resources and money in developing a competent management team and tech that individual homeowners are unable to.
The first thing LocalVR did was to tackle outstanding maintenance projects and general upkeep. Thorough inspection documents were created to make sure damages and wear and tear were being caught and resolved. On the backend, LocalVR’s revenue management team started immediately conducting a deep dive in the properties historical analytics and creating an in-depth analytics dashboard to find pricing improvements. So while the ground team arranged property improvement projects to retain the value of Mackenzie’s property, the pricing improvements started to immediately impact top line revenue.
The results after a year of operation not only got Mackenzie her life back, it also came at a less than 10% loss in revenue after implementing localVR’s pricing strategy and technology -- a more than welcome tradeoff.
