I had the pleasure of co-presenting a workshop session at the Vacation Rental Success Summit with Darik Eaton of Seattle Oasis Vacation Rentals.
In my discussions with Darik beforehand we explored the differences between our two companies and they could not have been wider. In this episode he explains why his model works and how his clients benefit from the control he takes over their properties.
Our discussion covers how he started his company which now manages 40 properties in urban Seattle, and how he works with his wife – an interior designer and stager – to bring a consistently high standard of property to his guests.
We talk about his approach which is very different from most property management companies; the design options the company offers; what he outsources and what he keeps in-house, his choice of reservations systems, and why has always has a Plan B!
- The lawsuit that started it all
- How the combination of his business acumen and his wife’s design and staging expertise helped them achieve 80% occupancy of their condo in the first year.
- His varied business models and how they combine to create a successful whole
- Why he wins owners and guests with a unique model
- The design options his owners can choose
- Why he has a list of 1500 items essential for vacation rental
- Why IKEA is a four letter word
- His arguments against paying for an owner’s poor choices
- How and why 2 condos with the same floorplan consistently show a $3K – 5k difference in income when the only difference is design
- His method of attracting investors
- Why he has a high staff to owner ratio
- The challenges of success and the battle between operations and marketing
- How design pays for itself in terms of income as well in an increase in the value of the property
- Why he doesn’t write his own blog posts
- His reservation systems – and why he chose the one his competition wasn’t using
- The #1 question to ask when looking for a new reservation system
- Why having a Plan B is always worthwhile
Links mentioned in this episode:
Where you can find Darik: