Ryan | Breckenridge, CO
Ph.D. Scientist, Biotech professional, and owner of Breck Haven Estate: a 7-bedroom vacation rental with incredible vistas of Mt. Quandary
From a State of Neglect to the Hands of Expert Care
EARNING $222,850 IN THE FIRST 12 MONTHS
Problem
Meet Ryan: Ryan’s previous property management company had completely dropped the ball.
Ryan was frustrated, and quite frankly annoyed with the way his previous property management company was running the show. Time and time again, they were more focused on pleasing guests to protect their own reputation, rather than having his best interest in mind as the owner.
There was no guest-vetting process, which led to constant recurring damages in his luxury vacation rental.
Ryan cringed every time the maintenance crews showed up, as they nickel and dimed him without properly resolving the issues at hand.
Not only that, but their pricing algorithm made little sense to no sense. Ryan finally cut the cord when he realized that his vacation rental was severely underperforming.
7 BR | 6 BA | 6,500 sq. ft.
Ryan Goes Local
Upset with empty promises and lack of proper attention, Ryan came across LocalVR during his search for a better solution.
When Ryan came to us for help, we were not surprised as we had heard very many similar stories in the past. Because we are local experts, we knew exactly what to do to provide Ryan with a better solution.
We made a promise to help him attract higher-quality guests, set a winning pricing strategy, and perform outstanding maintenance. All while keeping him in the loop every step of the way.
Impressed with our level of knowledge, service and care, Ryan made the leap to GoLocal!
Whenever I reach out, I’ve always gotten a prompt response. I love that the communication with LocalVR is always prompt, and consistent. My account manager, Dylan, is the best!
Solution
Our team of local experts got right to work to help Ryan improve the performance of his vacation rental business.
Ryan immediately started seeing the revenue results that he had hoped after GoingLocal. Our operations included:
Resolving long-overdue maintenance issues
Thorough guest vetting
In-depth pricing analysis
LocalVR’s top priority was to get his 6,500 sq. ft. home back to pristine condition by implementing our expertise in ground operations and cleaning/maintenance.
Another pressing matter was ensuring that unruly guests were no longer allowed to book the vacation rental. We know just how painful it can be for owners to see their precious homes ruined by disrespectful guests. That’s why LocalVR investigates each guest's stay before confirming any booking with a 3-tier vetting process.
Our revenue management team used our proprietary technology stack to perform an in-depth performance analysis to optimize pricing–drawing from historical data points, taking into account important seasonal factors, and using forward-thinking calendar management tactics.
Results
After GoingLocal, Ryan was ecstatic to see his vacation rental producing the revenue it should've been all along.
In the first 12 months after going LocalVR, he saw a revenue growth rate of 42%, resulting in $222,850 in overall gross revenue. In fact, our pricing analysis increased his rental’s daily rates by 56%.
While the property brought in 98% 5-star reviews, Ryan was even more pleased with the fact that he no longer has to worry about 1. seeing avoidable damages happen in his vacation rental, and 2. being annoyed by unprofessional maintenance crews.
With the extra time Ryan got back, after hand-holding property managers in the past, he now spends more time as a Biotech professional and Ph.D. Scientist.
Under LocalVR's reliable property management, Ryan regained peace of mind, while continuing to enjoy his vacation rental's passive income stream.
