How one homeowner earned over $200,000—even in 2020

Patrick B. knew his home was special, but it had become something of a burden.

His sprawling estate outside Ocean City, Maryland, was the product of years of hard work, but cleaning and maintaining 9 bedrooms and 5.5 baths spread across two buildings was too much for Patrick to manage alone—especially while raising his young daughter, Brooklyn. But ever the entrepreneur, Patrick was open to new possibilities.

“I had always envisioned the home being a destination for others to enjoy, just as Brooklyn and I had over the few years we worked on it and lived there,” he told us. “I knew how and what I wanted to do—I just didn't know which avenue I should take to get there.”

Patrick’s journey to this crossroads began, appropriately enough, with a trip to the beach. Having fallen in love with the laid-back lifestyle of Ocean City during summers off from college, he set out to make the legendary vacation destination his permanent home.

Eventually, he settled down in the home he would later name the Brooklyn Estate, after his daughter. They loved living at the Estate and making improvements around the house, but Patrick soon felt daunted by the upkeep of over 5,000 square feet by himself. He’d already begun imagining the Estate’s rental potential when a friend mentioned hearing good things about a vacation rental manager called Vacasa. He quickly set up a meeting with our local expert, Dave.

“My initial apprehension is everyone's first concern: ‘How will the guests treat my home?’” Patrick told us. “The other concern I had was Vacasa’s two- and three-day minimums. I thought guests would only book the weekends, and the weekdays would sit empty.”

But Dave assured him that our dynamic pricing strategy would surpass his expectations. So, Vacasa’s local team started managing the Brooklyn Estate and Cottage—and since then, Patrick has enjoyed some amazing results. “Although I had my doubts, everything that was more or less promised to me came to fruition—and the system out-performed even Dave's projections the first year,” he said.

Patrick now has three properties listed with us: the Brooklyn Estate and the Manor at Brooklyn Meadows. And even in the unpredictable year of 2020, Patrick enjoyed a healthy income from all three properties. “Without Vacasa, my road to becoming a successful property manager would have been much longer,” he told us.

That’s thanks to something he was initially skeptical of: our dynamic pricing technology. “Vacasa’s revenue optimization system is second to none,” Patrick said. “The technology and attention given to gaining optimal rates for homeowners on a regional and local level has been impressive.”

The Brooklyn Estate and Cottage grossed nearly $115,000 in 2020. The Manor at Brooklyn Meadows had its best year yet, coming in at a gross income of over $100,000 for 2020. Patrick feels his investments have paid off because he’s got both smart technology and the right people on his side.

“The local team that looks after my properties is fantastic. They treat my homes as if they were their own, and their attention to detail when trying to make sure every guest has the most enjoyable stay is unmatched,” he said. “I am in touch with them often—and even try to offer assistance in any way I can—but they’re always on top of any issue that may arise.”

Now, Patrick—and Brooklyn—are looking for another investment property to add to their Vacasa portfolio. His daughter has shown a real knack for short-term rentals, and he loves that she gets to be a part of the business.

“Success starts at home,” Patrick said. “I want to be a successful dad first and a successful businessman second. These properties have been an enjoyable journey for Brooklyn and me. We started this when she was only 3 years old. She’s 9 now, and is by my side helping me every step of the way with each property. She’s learned so much about construction, maintenance, yard work, decorating, and what it takes to offer guests a unique vacationing experience. She even offers her suggestions on new properties that we intend to add to her portfolio! It has been an incredible 6 years, and I cannot wait to see where the future takes her and I with Vacasa.”