Vacasa Brings Industry-Leading Property Management Services to Multifamily Industry

North America’s largest vacation rental property manager launches
Vacasa Multifamily to grow urban short-term rental portfolio

PORTLAND, Ore.–(BUSINESS WIRE)–Vacasa,
the largest vacation rental management company in North America,
announced the launch of Vacasa
Multifamily, a new initiative dedicated to building its rental
inventory for guests seeking short-term stays in urban city centers.
Vacasa Multifamily will partner with leading real estate developers and
property managers to provide short-term rental management services for
vacant units, resulting in stable and reliable revenue for the
properties.

“The industry has seen an increase in guest demand for urban short-term
rentals, and we’ve been approached by developers and property managers
seeking our vacation rental management services,” said Joshua Viner,
senior manager of Vacasa Multifamily. “We’re excited to bring our
decade-long property management experience to the multifamily space and
offer diverse inventory for business and leisure travelers, as well as
families looking to stay in urban destinations.”

Vacasa Multifamily enters into long-term lease agreements with real
estate developers and property managers that are looking to turn their
vacant units into short-term rentals that adhere to regulations. From
navigating complex local regulations and increasing operational
efficiencies, to driving bookings and optimizing nightly rates, Vacasa
Multifamily is there every step of the way for its partners.

“As the demand for alternative accommodations has grown, so has the
opportunity for Vacasa,” said Eric Breon, CEO and founder of Vacasa.
“The multifamily industry is on the rise and to be successful, property
managers need to deliver a high-quality and consistent experience for
guests, while providing stable revenue for building developers and
landlords. What we’ve traditionally brought to the vacation rental
industry, we’ll be offering in the multifamily space: provide great
guest experiences and increased revenue for our owners.”

Over the last year, Vacasa has launched new programs and services to
help homeowners and guests in every aspect of the vacation rental
process. In July, the company launched Vacasa
Real Estate to connect vacation home buyers and sellers with the
most qualified local real estate agents. Earlier this month, Vacasa
Community Association Management began providing management services
to vacation rental homeowners through their community associations.
Vacasa Multifamily is the next step in the fast-growing company’s
evolution.

Real estate developers and property managers that enter into agreements
with Vacasa Multifamily will be working with a trusted partner to drive
stable revenue for the property or assist during lease-up. Additionally,
partners will have access to Vacasa’s breadth of resources, including:

• Dedicated compliance and legal team: The short-term rental
  industry is evolving daily and it can be difficult to keep up with
  changing regulations. We work closely with our legal and compliance
  team to ensure we have the necessary permits and licenses for each
  unit.
• Property automation partners: Vacasa currently works with NoiseAware,
  PointCentral
  and VirtualKEY
  and will offer these industry leading property automation solutions in
  its urban short-term rentals. These technologies enable Vacasa to
  better screen guests and monitor noise levels without imposing on the
  guests’ stay, all while creating a safer, more secure experience for
  other residents in the buildings.
• On-site and local teams: In every market where Vacasa manages
  vacation rentals, there’s a local team of employees ready to care for
  our properties and serve our guests, homeowners, and partners. All
  full-time Vacasa employees are paid a minimum hourly wage of $15 and
  provided free health and dental benefits.
• Interior design experts: Vacasa’s in-house interior design team
  will work with developers to furnish rental units to meet guests’
  expectations when booking an urban short-term rental. Our team can
  also work directly with developers to help design purpose-built
  rentals with travelers in mind from day one.
• Booking platform partnerships: Vacasa partners with the
  industry’s leading booking platforms – such as Booking.com, Airbnb,
  and HomeAway – to drive year-round bookings for our more than 10,600
  properties around the world.

Vacasa Multifamily operates in seven urban markets, Boise, Chicago,
Dallas, Houston, Portland, San Antonio, and Seattle, with more to come
in 2019. To learn more about partnering with Vacasa Multifamily visit: www.vacasa.com/multifamily.

About Vacasa

Vacasa is the largest vacation rental management company in North
America and offers property management and other real estate services
directly and through licensed subsidiaries. Leveraging industry-leading
technology, Vacasa maximizes revenue for homeowners and its partners,
and provides unforgettable experiences for guests. Founded in 2009 and
headquartered in Portland, Oregon, Vacasa and its subsidiaries manage a
growing portfolio of more than 10,600 vacation homes in the U.S.,
Europe, South and Central America, and Africa. In nine years, Vacasa has
grown to more than 2,500 employees, has been honored as the Oregon
Better Business Bureau Large Business of the Year and was ranked ninth
on the Inc. 5000 Fastest-Growing Companies list. For more information,
visit www.vacasa.com.

Contacts

Vacasa
Alexandria Plew, 503 201 9696
alexandria.plew@vacasa.com