Vacationfutures lets homeowners sell the weeks or months that they’re not using their second home to professional vacation rental managers. VacationFuture allows home owners, property managers and real estate investors to buy and sell future rental rights. The startup is a portfolio company of the Triangle Startup Factory accelerator.
VacationFutures website offers a proprietary listing and auction platform that gives homeowners the opportunity to get upfront income from their homes. The service is free for home owners. Property managers pay the vacation home owners for the right to rent those homes at some time in the future.
Homeowners can rent their properties on wholesale for a bigger time slot and get time saving benefits of hiring a Property Manager, without any fees for using the service. There is no minimum rental period required, though managers typically prefer 3 months or more and the maximum listing period on VacationFutures is 12 months. Once listed Property Managers registered with the site bid for the rentals on the property.
Property owners remove the risk of not renting out their homes by selling blocks of weeks to property managers via the VacationFutures marketplace. By offering guaranteed income to owners, property managers can then create competitive pricing strategies. The site charge a subscription fee to property managers to do deals through its platform.
“We have received a great response so far from Outer Banks vacation property managers and home owners,” VacationFutures founder Andrew McConnell said in a statement. “Fifteen local property managers have expressed interest in bidding on the right to rent properties everywhere from Carova to Hatteras, and we are actively registering listings of all property types.