From New Luxury STR To A Well-Maintained Success
Earning $317,322
in the first 12 months
Marc
Chicago, IL
Technology services entrepreneur, avid traveler, and owner of the awe-inspiring Shock Hill Mansion
5 BR | 5.5BA | 3479 sq. ft.
Problem
Meet Marc, a technology services entrepreneur, avid traveler, family man, and owner of a stunning 5-bedroom property in the coveted Shock Hill neighborhood of Breckenridge.
After spending most of his career working with long-term rentals, Marc recently purchased this luxury vacation home as his first foray into the short-term rental industry, and he knew wanted to start off with a bang. From the beginning, he had two goals: 1) to ensure sky-high rental revenue without the need for hands-on self-management and 2) to maintain the property without the hassle of doing all of the work himself.
With those two objectives in mind, he found a perfect match with LocalVR.
Go Local
During our first phone call with Marc back in 2021, he detailed exactly what he was after–a turnkey property management service that would take care of every issue for him while still making him the rental income he expected and keeping the property in good shape.
It was obvious from the very first moment of the phone call that he was the perfect fit for LocalVR, so we sent over some rental revenue projections as well as educated him on our post-checkout inspections to ensure property upkeep.
From that moment on, Marc knew that his best option was to Go Local.
Solution
Because he was able to accurately assess his needs as a short-term rental owner, LocalVR was able to get the ball rolling with Marc’s 3,759 square foot property very quickly.
To start out, our processes included implementing an in-depth pricing analysis as well as ensuring that we completed detailed post-checkout inspections to properly upkeep the home. We also assigned Marc his own dedicated account manager so that he wouldn’t have to lift a finger.
Thanks to LocalVR’s quick work, Marc’s Shock Hill Mansion began to fill up with happy guests, and within the first year, the property exceeded its initial revenue projections, with overall first-year revenue coming in at a hugely-successful $317,322. On top of that, Marc’s first year of business boasted an astounding $1,566 average daily rate with a 54.79% occupancy rate. This, on top of our meticulous property upkeep, assured Marc that he’d made the right choice.
Take Marc’s
Word For It
Because of LocalVR, Marc is now able to focus more fully on his business ventures while traveling to his gorgeous Breckenridge vacation rental with his family a few times a year
Marc knew what he wanted and went after it, to great results. Because he chose to partner with LocalVR, he has been able to turn his first-ever vacation rental into a success over the last few years–all without putting in any extra time or energy.
“I feel like mine and LocalVR’s interests are aligned and they treat it like a business, just as I do. I also like how they keep me up to date on regional and national trends in the industry–it helps me keep up with the STR industry.”
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Discover your property’s earning potential
FAQS
Pricing, Marketing & Distribution
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We make sure that guests can find your home, no matter where they are looking.
It’s more than that, though! You can be confident you’re getting the best coverage for your home because our listings make it to the top of Airbnb, Vrbo, TripAdvisor, Booking.com, and more.
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We’re obsessed with finding new ways to get you the best revenue for your home!
Our team uses an innovative software systems we developed to help get you the best booking rates for any property, any time of the year. Our algorithm analyzes market data and trends and then uses that information to dynamically price your home.
To simplify things, think of how airlines are constantly changing their rates to fit the market. Our prices are adjusted on a daily basis to make sure you are getting the most out of your investment.
On top of that, we keep a close eye on your property’s performance by constantly tracking metrics to make sure we’re hitting benchmarks. This is where your personal manager comes in to make custom adjustments to help.
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We set price floors and minimum night stay requirements using market data from across the region to make sure you’re getting the best price. But if you want to customize things, all of your holiday prices and floors can be adjusted.
With LocalVR, custom tools are at your fingertips! We strike a balance between generating revenue and maintaining the long-term value of your home.
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Detailed owner statements are given on a monthly basis. Each statement will show detailed breakdowns of every reservation and expense. Then the money is deposited directly into your bank account once you review it for accuracy.
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Everything you need to stay up to date is easy to find in your Owner’s Portal. When you sign up you’ll receive login information that allows you to see your calendar, revenue, booking metrics, and more.
You will receive login information to our Owner's Portal allowing you to see your calendar, revenue, booking metrics, and more.
Contracts & Fees
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When you team up with LocalVR, there are no terms or lock-in periods. You’re part of our team and we treat you like family.
We’re confident that you’ll be satisfied with us. We take pride in our industry-leading client retention rate. Thanks to our dedication to providing a high-quality service, we’re becoming a vacation rental leader.
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LocalVR has worked hard to get our management fee as low as possible for all partners. We pride ourselves in keeping everything wrapped up in one simple contingency-based fee based on your property.
If you want to know how much your property will make and what we’ll charge, you can get a super quick and easy quote from our team.
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LocalVR is a full-service vacation rental management company, which means everything you can think of (and more) is included in that fee.
Our management fee takes care of:
Premier guest services
Accounting and tax remittance
Marketing and listing your property on all the best sites
Dynamic pricing to get you the highest revenue possible
Cleaning and routine inspections after every check-out
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Homeowners are responsible for paying their HOA fees and utilities. Owners are also responsible for covering the cost of any repairs or maintenance that is outside the scope of a routine inspection.
Fees for outside services like hot tub maintenance, trash service, and snow plowing and shoveling are the owner’s responsibility.
Extra services are available from LocalVR contractors at competitive rates.
Onboarding
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Once you talk with our team, we’ll start the process of walking you through our management fees, the listing process, and the awesome technology we use to price your home.
If you decide LocalVR is the best option for you, then we’ll sign an agreement. This agreement includes everything we’ll need to manage the property.
Then we send you a questionnaire to get more details about your property. There are a few more things we’ll take care of to get your home ready for booking.
And after that’s all settled, you can sit back and relax. LocalVR handles all the little details that will make your home a profitable, streamlined investment.
We provide hands-on listing management for all the best vacation rental booking platforms. After your home is listed, everything is streamlined from check-in to check out.
Advanced technology and dynamic pricing software to get you the best booking prices for every holiday - any season, all year-round
1-on-1 support online, on the phone, and in person for your guests
Premier cleaning and upkeep by our local teams
Thorough post-checkout inspections
You name it, we’ve thought about it. If you have any questions about how we help you get the best income from your home, we’re here for you.
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LocalVR is the result of years of our team’s experience in the industry. We wanted to create a vacation rental network that combined the best parts of a local management company with the amazing technology that national companies have these days.
Here’s how we accomplish that:
Lower fees:
LocalVR charges 10-15% less than traditional local management companies
Technology that local networks don’t have
Our dynamic pricing algorithm ensures you always get the best prices, no matter what time of year
No time commitments or restrictive agreements
Marketing power that blows the small fish out of the water
Ability to control listings on all major booking sites
Thorough post-checkout inspections after guest stays
Local teams on the ground in your area
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When we founded LocalVR, we had a vision of combining a hometown management company with the advanced technology and resources of the big guys.
When you trust us with your home, we go above and beyond to be your local neighborhood partner.
Here’s what we do differently than the national agencies:
Dedicated team of local experts on the ground in your area
Post-check-out inspections to keep your home pristine - every time
Dedicated and responsive account manager available 24/7 to owners
Lower prices: Industry-leading competitive fee structure
It’s in the name - LocalVR. We’ll never change our commitment to locals-first management.
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It’s your home!
You can use it whenever you want. Your owners portal allows you to reserve stays.
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Our team is here 24/7 to ensure we’re here to handle any guest experience emergencies.
As a homeowner, you’ll have a dedicated account manager that will communicate between you and the rest of our local staff. We’re always here to address your specific needs, and they are readily available to you.
We work hard to respond to our homeowners within 1 hour between the hours of 8 AM - 8 PM.
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Our local team always makes sure your guests have clean linens, toiletries, and household supplies - everything included in the guest cleaning fee.
Owners are never responsible for ordering things like new towels or trash bags. Rest easy knowing it’s all taken care of!
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Don’t take it from us, listen to the voices of over 9600+ positive reviews and glowing customer testimonials.
Our Guest Experience
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The LocalVR team works hard to get you the best guests for your home. We’re confident that you’ll be happy with our guest vetting process.
We employ a full-time team to screen every reservation request that comes through for your property.
We accomplish that by:
Sending guests your custom rental agreement
Sending guests your custom questionnaire
Setting your custom house rules
Executing your custom guest vetting process
Setting a price floor and minimum night stay restrictions
Detecting red flags
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Our guest services and emergency maintenance team are available 24/7! When guests have a problem, they’ll contact us instead of you. Sleep easy knowing that your guests are taken care of.
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One of the great things about LocalVR is that we inspect your home after every guest stay - something you don’t get with other companies.
Our inspection team will report any damages they find after their thorough inspection. Those damages are documented and charged to the guest immediately.