At Vacayo, we’re hyper-focused on learning everything about our homeowners their financial needs and personal goals so that we can better served them. Unlike some of our peers, we aren’t pigeonholed into one type of home style, so our users come from all walks.
Take Maria, a homeowner I met earlier this month during a Miami trip. She immigrated from Venezuela nine years ago, speaking no English but managing to scrape by as a cleaner and, eventually, purchase her first home. But as her situation improved, life for her family back in Venezuela worsened. Running out of ideas to help and money to send home Maria listed her home on Airbnb. For a year she got scattered bookings, and every time a guest would come she would relocate to a motel. It was hectic and disorienting, so eventually she sought out Vacayo’s help.
When we did a home visit and offered her $3,200 a month in fixed income (under our Rent Guarantee program), Maria choked up with gratitude. She now had the down payment to rent a less expensive place and save at least $1,000 a month. In a few months time, she’d be able to buy tickets to bring her loved ones in Venezuela to the US.
For someone like Maria, profit share and the uncertainly it brings wasn’t an option. Nor was spending money converting her home to a self-sufficient vacation rental. As a startup founder, when you get the chance to change the course of a family’s life, it’s a beautiful, powerful thing.