New York, NY -- (ReleaseWire) -- 02/12/2018 --With the growing popularity of vacation rental sites like Airbnb and VRBO, more property owners than ever before are getting into this market. However, managing vacation rental properties can be difficult and time-consuming.
Vacayo aims to make the process easier for landlords, providing vacation rental property management software and service which leverages local hosts for on-the-ground operations. The company is rapidly on the rise with a current backlog of property owners waiting to be onboarded and is growing at a rate of 20 percent, month over month. It has achieved success thus far largely through word of mouth.
The average rental property sits empty for about 45 days each year, resulting in lost revenue for the landlord. Even when landlords do find tenants, it can be difficult to verify that they are, in fact, desirable renters. Vacayo removes the hassles from the process, making everything easier on the landlord so they can watch the profits roll in with minimal stress and effort.
When a landlord contracts with Vacayo, the company will furnish the property if it isn't furnished already. Typically, the property is ready to be rented within 72 hours. Vacayo will also handle finding and managing the tenants, including taking on the risks associated with that task.
The company is currently seeking investors through the crowdfunding platform, Republic. At the time of this release, the campaign had already surpassed its initial funding goal of $50,000, bringing in over $80,000 thus far. It will continue to run until March 3, 2018 with a funding cap of $1 million. Vacayo was also a finalist on Meet the Drapers, a reality TV show which allows viewers to invest in startups. Meet the Drapers arose out of a partnership between Republic, Sony Entertainment TV and the Draper family.
The funds raised will be used to expand onboarding operations in order to eliminate the backlog of landlords on the waiting list. The money will also go towards improving the technical aspects of the platform to incorporate machine learning, helping to streamline operations even further. Finally, any remaining funds will be put into marketing efforts to attract more new clients and continue growing the company.
Investors can get a piece of the action for as little as $100. At this level, backers will receive a swag bag containing branded items like stickers, notebooks, t-shirts and hats. Starting with investments of $500 or more, contributors to the campaign will receive discounts off future vacation rentals through the platform, with larger investments generating bigger discounts.