If you’re like the Griswolds you love the delight and adventure of taking a vacation. With rental sites like Airbnb and VRBO, finding a place to hang your hat for the weekend is only a click away. But for homeowners, renting your place to earn some extra cash can turn sour faster than it did for Clark in Christmas Vacation. Here to solve our leasing woes is rented (formerly VacationFutures – who we’ve been following since inception), a platform helping owners generate income for their unused assets. Here at Hype, we hope to one day own Aston Martins and vacation homes that we can rent for extra cash, so we sat down with the founder to hear how rented can help.
Andrew McConnell built rented from a startup for proprietary listing, auction, and diligence (VacationFutures) to an established company providing owners a place to rent an assortment of assets (like that jet ski collecting dust in your garage). “If we started this 5 years ago we would have died on arrival. With rental properties, no management company was going to take a financial risk to do guaranteed contracts because they had such a sweet deal. They were getting 40-50% commission, but AirBNB and VRBO completely changed the dynamic of the market and that’s when we saw great potential with our model.”
“Sure people can do it on their own but it isn’t easy and they aren’t necessarily good at it. You’re answering 50 emails a week, taking phones calls, dealing with cleaners, and hearing from renters who call at 2am when they can’t find the light switch.” That’s where rented steps in – working with both the owner and management companies to maintain transparency and supply a turnkey contract between the two. By standardizing the contract, homeowners know they’re trading commission with the best in rental management and dissolving the woes that come along with renting – a win/win for everyone.
What started as two founders focused on property rentals, has evolved to 16 employees supporting owners renting possessions of all shapes and sizes. “As our company grew, we saw that people understood the benefits of participating in the sharing economy and owners approached us to add non-vacation homes and assets to the platform – so we decided to rebrand. This next phase seeks to help owners of all kinds generate income from their unused assets without the hassle and risk typically associated with rentals.”
The official rebrand from VacationFutures to rented just took place Wednesday. Be sure to give them some love and if you’re ready to rent that telescope hanging out in your attic you know who to call.