Eric Breon, the founder of Vacasa, made headlines in 2020 when he stepped down from his position as CEO of the vacation rental management company. However, Breon didn’t stay idle for long. He quickly launched a new property management startup called Fairly, which aims to revolutionize the vacation rental industry by addressing some of the shortcomings of the traditional business model.
In a recent interview with Skift, Breon highlighted the issues he sees with the current vacation rental management model. He pointed out that there is often a disconnect between property managers, homeowners, and guests due to layers of bureaucracy within companies like Vacasa. This disconnect can lead to subpar guest experiences and lower review scores, despite the properties being well-managed in terms of yield management and distribution.
Fairly, Breon’s new venture, seeks to bridge this gap by providing homeowners with a streamlined platform that connects them directly with caretakers who handle the day-to-day operations of their properties. The platform charges a 20% per booking fee, with Fairly taking 10% and the remaining 10% split between the caretaker and an advisor, typically a real estate agent. This model allows homeowners to have more control over their properties while ensuring that guests receive top-notch care during their stay.
One of the key differences between Fairly and traditional property management companies like Vacasa is the gig economy model that Fairly employs. Instead of relying on a large staff of regional managers and operations personnel, Fairly partners with independent caretakers who have a personal stake in the properties they manage. These caretakers set their own rates, choose their clients, and build lasting relationships with homeowners, leading to a more personalized and attentive guest experience.
Fairly’s focus on empowering caretakers and streamlining the property management process has already garnered attention from investors. The startup raised $10 million in funding over the summer, primarily from Breon himself. With a team of experienced co-founders, including Chief Technology Officer Jeff Flitton and Chief Product Officer Subechya Person, who previously worked at Vacasa, Fairly is poised to disrupt the vacation rental industry.
By putting control back into the hands of caretakers and homeowners, Fairly aims to improve the overall guest experience and create a more efficient and transparent property management process. With a growing network of caretakers and advisors, Fairly is set to redefine the future of vacation rental management and provide a more personalized and seamless experience for both homeowners and guests.
