Navigating the Sea Change in Vacation Rental Management

Steam Ahead with Homerun Advantage

By Darby Kellum

A start-up company is a challenge, even in a robust economy. So, how does one go about launching such a venture in a difficult economic climate, especially in an industry that is experiencing a significant metamorphosis? Firsthand knowledge, a passion to serve, and innovation are probably the most important and effective tools to possess when it comes to ensuring success in times like these.

These tools are exactly what HomeRun Advantage, Northwest Florida’s newest property management company, is utilizing to produce great results. The company has developed options to increase rental income for investment homeowners and, by applying an innovative business model based on sound experience, HomeRun Advantage plans to sail ahead of the pack in what seems a literal flotilla of rental management companies.

“HomeRun Advantage is a new type of vacation rental management company that bases itself around simplicity, honesty, and more importantly, money in the homeowner’s pocket,” said Michael Austin, vice president of HomeRun Advantage. “We’re excited to bring something to the property management field that is not only extremely profitable for the owner, but also basic and simple to understand.”

 

 

Having worked with the largest management companies and resorts in Northwest Florida, Austin is a veteran of the hospitality industry and is the perfect choice in charting the course for this pioneering company. His experience includes consulting roles as well as working directly with vacation property owners. “I’ve seen what works and what doesn’t work when it comes to property management,” he said. “If you don’t adapt your business strategy as things evolve and change, then your business will get left behind.”

By removing the extra overhead that has become unnecessary in today’s modern management world, HomeRun Advantage is able to offer management options to homeowners with appropriate subcategories that allow the company to charge very competitive rates for service. HomeRun Advantage does not take a percentage of the room revenue, allowing homeowners to take home 100 percent.

 

The first option, the Basic Service Plan, is perfect for owners who understand who their customers are, know how to book their guests’ vacations, and are successful at marketing their properties. This plan allows the owner to continue doing what has worked in the past, while HomeRun Advantage takes on the role of “operations team” by coordinating check-in, housekeeping, maintenance, and emergency calls after the owner has booked the reservation. HomeRun Advantage can even help with an existing VRBO listing and introduce owners to other unknown marketing channels.

The Rental Services Plan is the second option, and it is predicted to launch later this year. This plan will attract the owner who understands how profitable a property can be but has not reaped the benefits because of the fees that are levied in an effort to keep the large management company profitable. The Rental Services Plan allows HomeRun Advantage to use the most cost-saving method of property rental by charging a low, flat annual administration fee for performing all duties of a rental management company. The flat fee allows owners to select the level of service desired with the option to add or exclude services—custom tailoring their individual needs as time passes.

 

This allows our clients the opportunity to participate on a trial-and-error basis that is specific to their property and desired level of participation. Owners can test what works, keep what they want, and not have to pay for the rest. The best part for owners is that HomeRun Advantage never keeps a cent of room revenue. Owners pocket 100 percent of the revenue.

So how is HomeRun Advantage charting a course for success and separating itself from other property management companies? The bottom line is there are no monthly fees and owners know what to expect. The homeowner controls the costs while HomeRun Advantage controls the high-quality rental experience for the guest.

“We initially recognized the need for a better vacation management solution and, with all the experience our senior team has amassed from decades of hotel and resort management experience, we put our heads together to solve it,” said Austin. “Many of us have spent years listening to owners, and we believe that HomeRun Advantage is truly the best solution to satisfy all owner needs.”

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For more information, please visit homerunadvantage.com.