Tammy Geiken wasn’t looking for a vacation rental when she was browsing for her Minnesota lake house, but that’s exactly what she found.
The 5-bedroom cabin on Pelican Lake was beautifully furnished and incredibly spacious. It had room to accommodate large groups and lakefront access.
Tammy was intrigued by the property’s potential, but she had lingering concerns about taking on the sizable mortgage and property upkeep. She wanted some guidance before making the investment, so she met with local property managers to find out if she could generate enough rental income to make the investment work. Unfortunately, she learned that local advertising was their only method for generating bookings.
She knew that wouldn’t give her property the kind of exposure it needed to make her investment worth it.
But fortunately for Tammy, there was another option: Evolve.
“
It 's nice to know that I'm not doing it alone. With Evolve, I have a second set of eyes, a second set of opinions every step of the way."
“
Our bookings are covering all of the costs for the cabin - all of the repairs, everything. It’s paying for itself, and we are hoping to even make a little profit this year, which is awesome for the first year in!”
Tammy Geiken, Evolve Owner
Solution
Before buying the cabin, Tammy spoke with Evolve to get an idea of the property’s income potential. She appreciated that Evolve’s revenue experts were able to provide a custom report on the income she could expect from a five-bedroom property in the area.
Tammy also felt confident working with Evolve because of the custom property listing she would get, marketing on top sites like Vrbo and Airbnb, and the 24/7 guest support team that was available to answer guest inquiries and secure bookings. Best part: Evolve's Core management plan included all of it (and more) for an industry-low 10% fee.
Performance
Time with Evolve
10 months
Nights Booked
174
Total Bookings
47
Rental Income
$131,150
Results
In the 10 months that Tammy has been with Evolve, she has far surpassed her original goal of booking 95 nights in a year. The cabin has booked an impressive 174 nights and earned over $130,000 in rental income to date. “For being our first time in, we feel very lucky that it’s going so well,” says Tammy.
She also says that having the ability to generate off-season bookings is really tipping the scales in their favor. With a dedicated team working to book her property year-round, Tammy doesn’t have to depend on the high-season to make her investment work.
Things are going so well that Tammy hopes to invest in a second vacation rental outside of Minnesota in the near future. With the right marketing and booking strategies to support her investment, we’re sure that wherever Tammy buys next, her vacation rental future will be just as bright.
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