Differentiating Your Vacation Rental Business in a Crowded Market with Meredith Rumsey of Vacation Rental Co

The Vacation Rental Show: How We Grow

Join Lynell Gordon as she is joined by Meredith Rumsey, Director of Operations And Business Development at Vacation Rental Co.

Together they explore:

• Meredith’s career path
• Launching a mid-term rental business
• A unique mid-term rental model
• The challenges of transitioning from employee to business owner
• Building strong relationships with property owners and guests
• Practical advice for aspiring property managers
• Finding a niche in a competitive market

Meredith Rumsey is Director of Operations And Business Development at Vacation Rental Co, a partnership comprising a well-established housekeeping company, a certified public accountant, and a veteran of the hospitality industry. VRC does standard short-term vacation rentals as well as 30+ night rentals, and provides stress-free and comprehensive all-in-house property management. Before working at VRC, Meredith was Director of Strategy and Business Development at Mountain Vacation Lodging.

This episode is sponsored by LiveRez.

Episode Highlights

[01:02] Traditionally, short-term rentals have been Vacation Rental Co’s “bread and butter”, according to Meredith. However, since zoning restrictions are limiting where short-term rentals can operate, VRC are now shifting to mid-term rentals. Meredith explains that mid-term rentals are those that last for thirty nights or more. This model benefits people who bought homes that are now restricted from renting them out on a short-term basis due to the new zoning laws. Meredith outlines how this approach kills two birds with one stone: by offering mid-term rentals, they provide solutions for these homeowners while meeting a growing demand from renters who want longer stays.

[12:20] Meredith discusses the issues faced by a small business, as opposed to a large one. As the main point of contact for her vacation rental business, she has to juggle responsibilities, from answering emails and managing listings on online travel agencies (OTAs), to handling legal contracts. Meredith describes the challenges of balancing the budget between growth and infrastructure. In short, how much to invest in marketing to grow the business vs. how to strengthen operations? Finding the right balance is especially difficult for a smaller operation, especially when funds are tight.

[18:28] Meredith highlights the importance of carving out a niche in the property management industry. Since the market is saturated with property managers delivering similar services, Vacation Rental Co specialized within a smaller market: the mid-term rental space. Meredith notes how although Vacation Rental Co are relatively small, being the only business focused on this area gives them a larger market share. She recommends differentiation, using the examples of adopting a travel agent-like approach or partnering with a local business. It’s crucial to find ways to stand out.

If you enjoyed this episode, make sure to:

• Subscribe, rate, and review
• Share this episode

Episode Resources:
👉 Google - https://bit.ly/gp-how-we-grow
👉 Apple - https://apple.co/3lYc2gU
👉 Spotify - https://spoti.fi/3InYanV
👉 bCast - https://bit.ly/hwg-podcast
👉 iheartradio - https://ihr.fm/3Z8qqlg
👉 RSS - https://bit.ly/how-we-grow-rss

The Vacation Rental Show: How We Grow is handcrafted by our friends over at: fame.so
Previous guests include: Jim DeVos of Best Beach Getaways, Stacy Wesson of Cascara Vacation Rentals, Michael Friedman of The Simple Life Hospitality, Steve Caron of Inhabit, John An of TechTape, Jessica Gillingham of Abode Worldwide, Justin Ford of Breezeway, Mahwussh Alam of One Perfect Stay, Lisa Stinnett of Inhabit, and many more.
Check out the three most downloaded episodes:

• Vacation Rental Stories: Episode 63 - Driving Innovation and Partnership
• Homeowners Become Family with Michael Godfrey, Owner of Michael’s Vacation Rentals
• Life in Maui as a Property Manager with Scott Jordan, Owner of Maui Life Realty

Are you a vacation rental industry leader looking to share your expertise? We're seeking innovative voices to join our conversation about growing and scaling vacation rental businesses.

The Vacation Rental Show: How We Grow reaches thousands of property managers worldwide. We're particularly interested in perspectives on:

• Scaling your vacation rental portfolio
• Optimizing guest experiences
• Revenue management strategies
• Industry trends and market insights

Express your interest in being a guest →