Vacasa vs Evolve: anyone have experience with these?

Question

Hi BP.  I am ready to get started in the STR market, and I'm a little overwhelmed. (I have previous experience with LTR of 3 condos I no longer own.) I want to hit the ground running and cannot afford to make costly mistakes.

Although my intention is to buy my first property within an hour's drive, so I can clean/oversee it myself (to start), I'd still like to have the guidance in finding/purchasing the right property and perhaps to handle the marketing. I then intend to get a second (or more) outside of my area, where a property manager will definitely be needed.

I was about to subscribe to AirDNA to do my research, but then I came across Vacasa and Evolve. It seems they offer this data as well as the purchase of STR real estate. A one-stop shop? I just don't know where to start. Of course I understand I'll be losing more of my income this way, but if it helps me make more, it's a no-brainer.

If any of you have used these services and can provide some insight, I'll be forever grateful!

Felicia

Michael Baum · Answer

Hey @Felicia Lucco, I am with @John Underwood on these. On the surface, Evolve looks kinda good. They manage the calls, the bookings, create the ad etc. But once you start doing it, you will find that the 10% the charge is better served going into your pocket. Evolve creates the listing for you but owns it. If you decide to move on, you lose every review you have generated. Not worth it.

Vacasa is a full service property manager. Now the rates will depend on where it is located, size etc. With our lakehouse in North Idaho, I looked at them, but they wanted 40% to handle everything. I have been told that was wrong, but that is what they sent me. The CEO told me more like 30% which is still too much. We are pretty far out of town downlake so travel time to clean is 2 hours both ways.

Reviews and cleaning from Vacasa are spotty. Some places have glowing reviews about customer service and cleanliness, others are 3 stars at best. You will never know until you get rolling. Like Evolve, they own the listing and are listed as the managers along with everything else they manage. You lose all your reviews once you realize you are losing 20% a year.

All you really need to do is read the forum and ask specific questions. There is a ton of info from furniture to linens, locations to cleaning books. You can do it!

Alex S. · Answer

@Felicia Lucco...why do you want to clean yourself at first?

You don't need a property manager.  You just need a cleaning person and an on-call handyman.  You hire them and they know what they'll be paid to clean/respond to a maintenance request.  That'll cost WAY less than 10%...or god forbid...40%.

Checkout hospitable.com for automation help.  I have no affiliation with them other than as a satisfied customer.

Michael Baum · Answer

You are welcome @Felicia Lucco. Remember most of us manage our properties remotely. We only have one and it is about 360 miles from me. Just get your systems in place. Find a great cleaner and handy person and you can manage it all yourself.

Felicia Lucco · Answer

Thanks, Alex. Makes sense to me!

Ralph Lampman · Answer

My experience with Vacasa in central Florida has been very bad.  I'm going to give them 30 days to improve things.  I want to share my experience for anyone considering Vacasa.  Vacasa Ormond Beach & Daytona local property management communications was really sad.  Palm Coast local PM so far so good but Vacasa is loosing my trust.  See below:

PROPERTY #1My first contact with Vacasa revolved around a discussion about where best to invest for an absentee owner and do you offer turnkey property management(answer was yes).  Vacasa sent me an email market report.  That email was followed up with a few conversations that revolved around the fact that we would be absentee owners.  I streesed the need for turn key property management services.  Beach front or within 5 minutes from the beach was the guidence we got from Vacasa.  Florida was discussed, more specifically the east central coast.Vacasa's representitives visited a few properties I selected with the real estate agent I contacted in Satélite Beach.  We discussed the same.  A few days later the Vacasa sales rep let me know that a Vacasa owner was looking to sell his furnished Ormond Beach unit and STEERED ME in a different direction, knowing I was an ABSENTEE BUYER.Next the sales rep sent me the Vacasa property online bookings profile with photos virtual tour etc  and everything and it looked nice, came with furniture and had guest bookings. https://www.vacasa.com/unit/48

I learned after the fact that Vacasa has real estate services:  https://www.vacasa.com/owner-l...

Hard to believe the sales rep didnt point me to Vacasa Real Estate to represent me in the purchase.

Anyway, I was assured that the inside of the property was in perfect condition, needed nothing and was ready to receive guests.  Then the sales rep introduced me to her FRIEND, the real estate agent representing the seller.   The property was put under contract and we closed 12/6/2021..  The Vacasa sales rep. onboarded us and put me in contact with the local Vacasa property management in Ormond Beach.  I got a few text messages but never received a phone call to the point of giving up.  I reached out to the sales rep complaining and to discuss some negitive comments about the property condition I found online, she said she would work on it.  Finally the Vacasa property caretaker got in touch, we discussed the issues, he visited the property and let me know that everything would be handled.  His final comment to me was, the unit is in great shape and these are small things, nothing to worry about everything will be fine.  I contacted the sales rep again to have the local property manager call me.  Still no call.  5 weeks later I sent out an email to EVERYONE including the CEO.

Next I get a call from the sales rep and I learned Vacasa put me under a different property manager (Daytona).  A week later the new local property manager and his boss called me.  They assured me everything would be handled and they would inspect the unit and call me when nside.  Never happened.   I contacted the sales rep again and let her know that nobody did anything.

Finally a lady named Karen the local property manager for Palm Coast called me, went to the property and we did an online video tour with WhatsApp.  She pointed out everything wrong, even a security issue (door would not lock), let me know she was an interior design expert and would put the property in fantastic shape.   I let her know a guest would be showing up later in the afternoon, she said she would do what she could.PROPERTY #2Vacasa sales rep reccomended a Palm Coast Canal home and suggested that I work with her FRIEND to find a property.  This time the real estate agent represented me, I let everyone know we are absentee buyers and will be absentee owners.  We closed on that property 14 Dec.  The seller leased back the property for an additional 40 days.  Next the Vacasa sales rep mentioned that a family member is very good at design and wanted to launch a design company.  I said ok let me know when we can get started.   They decided against starting their new design company for some unknown reason.  Next she said her FRIEND (my new real estate agent) and his WIFE are experts with interior design and manage property in Orlando.  Ok fine.  After several discussions with my new design team (my agent and his wife) they got busy, furniture and all the essentials ordered and set for delivery this week.   Now the my new design team (real estate agent and wife) let me know they are passing the tourch over to Karen, the Vacasa Palm Coast local property manager.  Karen got in touch, we did a video tour and noted some issues and said the house needs a deep clean.  Karen assured me that I'm in good hands and will make sure the house is clean and ready to receive furniture, etc that my real estate agent ordered and that my realtor will no longer be involved.I learned after the fact that Vacasa has an interior design service:

https://www.vacasa.com/owner-l...

When I asked why wasnt I told about Vacasa Design.  In a nutshell the design service was backlogged and not ready.

When asked why Vacasa Real Estate did not represent me when we bought Ormond Beach property, I got no response.

Any Florida Litigators out there or does anyone know a good one?

I need a consult.  Thanks!

Felicia Lucco · Answer

Michael, thank you so much for that! I know how important reviews are to this business, so this is a big deal. For locations too far for me to travel, I will need a management company, but will be looking at the independent managers instead. Once I decide where, I'm sure I can connect with good folks on here. Thanks again.

Felicia Lucco · Answer

Thanks, Michael. I'll do that. John, do you mind giving a few reasons why you feel that way and what you would recommend instead?

John Underwood · Answer

I don't think either is very good.

Michael Baum · Answer

Hey @Felicia Lucco, do a search as this has been discussed ad nauseum, like arbitrage. Lot's of info on these.

Vacasa vs Evolve: anyone have experience with these?

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