A team of real estate veterans have launched a new curated listing service that demystifies the process of purchasing and maintaining valuable vacation rental properties. Revedy, founded by Colin Carvey, the former Head of Growth at Vacasa, leverages a powerful data analytics platform and proprietary tools designed to calculate cost vs value to help identify and curate the right properties for clients seeking to take advantage of the rapidly developing vacation rentals market. Revedy simplifies everything from the search to financing to finding the right Vacation Rental Manager (VRM) so that owners don’t have to worry about anything as they open a new monthly revenue stream or acquire their ideal getaway property.
Revedy works with potential buyers to determine their budget, goals, wishes, and property requirements. This data then is applied in conducting a thorough assessment of available investment homes. Revedy’s technology coupled with its team’s expertise, determines the best matches by evaluating a myriad of data points, such as where buyers can find the right houses that generate higher rental incomes with strong growth potential. Revedy also considers the uniqueness of a home-- its “cool” factor, what amenities it might have, or unique decor that can make it attractive to future renters as well as the owners.
The global market for vacation rentals is predicted to reach $169.7 billion by the end of the year, and it continues to grow by estimated ranges of 6.89% to greater than 10% each year. Revedy makes the vacation rental market more accessible to buyers while growing the vacation rentals segment into a third major category within the real estate industry. Vacation rental properties are an untapped investment category that can produce much higher returns compared to a long term rental investment while also providing a home that owners can use.
“Real estate is an absolutely enormous economic driver, yet the industry is represented by only two categories-- commercial and residential-- each bringing in trillions of dollars every year. We see an opportunity to disrupt the status quo with a third category-- vacation rental properties,” said Carvey, founder and CEO of Revedy. “Most people mistakenly believe that they don’t have the money to get into vacation rentals, or they simply don’t know how to make the decisions that will enable them to double the return on their investment. Revedy opens up this world in a way that takes all of the guesswork out and maximizes profits, allowing more people to fulfill their dream of owning a vacation rental.”
Unlike other large vacation home services, Revedy does not rely solely on algorithms that average out rental potential when conducting property searches. Revedy also personally curates the properties it presents to clients, taking into account the distinctive attributes of specific homes and finding the exceptions. The Revedy team identifies unique, and sometimes not yet listed, properties that can be cash flow positive and enhance the experience for vacation rental owners and guests alike.
“Homes are unique products to which people emotionally connect, so real estate is not just about numbers and transactions,” added Carvey. “While we leverage sophisticated technologies to identify properties that meet clients’ criteria and budget, our team also understands the importance of a property’s feel to the owner and potential renters. This is something only a human can provide. In a sense, Revedy is where the heart and the mind meet for the perfect vacation property.”
Once prospective properties are identified, Revedy partners with select Vacation Rental Managers and real estate agents nationwide who understand the nuances of the local vacation rental market. These trusted partners evaluate the property, facilitate showings and help with the transaction. Through this approach, clients are not limited by geography, nor do they have to worry about finding an expert agent in an area they may not be familiar with. Every property, Vacation Rental Manager, and agent has been thoroughly vetted to match the client’s requirements and wishes. Revedy can also connect buyers with local insurance agents, mortgage brokers, and property managers to minimize complications and frustrations, making vacation home ownership seamless start to finish.