The Silicon Review
For most people, vacation rental property is a mode of earning passive income, but here we must understand that it is not the type of business where one can earn money by doing nothing. Running a vacation rental property requires the completion of several key tasks to achieve financial success. It is a well-known fact that vacation rental management is an inseparable part of a successful hosting strategy. With no proper management system in place, businesses could face a drop in booking and overall positive ratings. Naturally, a host can avoid such scenarios by making use of reliable management techniques and tools for their properties. There are various companies delivering excellent vacation rental property management services globally, but ABODEbucks stands out from the rest. ABODEbucks’ wide range of services includes everything needed to ensure a successful vacation rental, beginning with interior design and home setup services, professional photography, and SEO-optimized listing content.
Once a listing is ready, the team provides 24/7 guest services, manages supplies, cleans between guests, and makes sure that properties stay in pristine condition inside and out. The safety of guests, homes, and neighborhoods is taken seriously, with processes in place to mitigate issues. Guests are screened before reservations are confirmed, rental insurance is included, noise monitoring devices are used to avoid disturbing neighbors, unique entry codes expire after each reservation, and all team members are COVID-19 certified to prepare homes by CDC guidelines properly. ABODEbucks’ team has even developed its own dynamic pricing app that automates the company’s strategies for maximizing client revenues. Nightpricer has been shown to outpace St. Louis nightly rates and revenue up to 60% and it is included with the ABODEbucks array of services for no extra charge.
In conversation with Josh Sedivy, Co-Founder and Director of Operations of ABODEbucks
Q. What was the motivation behind starting ABODEbucks?
In many ways, ABODEbucks began as both an idea and a solution. In 2014, Krissy and I found ourselves at a crossroads and were looking for something new. We had both been with our employers for several years, and although we were successful in our positions, it was becoming difficult to imagine remaining on the same paths until retirement. So, we took a “break” and ended up traveling throughout Europe, Asia, and Latin America for a few years. The idea is that we would see the world while brainstorming for ideas that might create new sources of income. During those years, we remotely managed a few of our own vacation rentals, created a travel blog, and offered consulting services in our previous fields. What we found is that consulting in our previous fields landed too close to the jobs that we were trying to escape, travel blogging was unfortunately not very lucrative, but our vacation rentals were producing some great revenues! We also noticed that there weren’t many St. Louis, MO-based professional vacation rental management companies in our home city. And since Krissy had a lifetime of experience in the hospitality industry, and I had been in the sales and finance industries for many years, we felt that we had the solution! Our combined skill set could be leveraged to capitalize on the rapid growth of the vacation rental industry, led by the juggernaut known as Airbnb.
Q. What differentiates you from others in the space?
ABODEbucks has been fortunate to grow and quickly lead our immediate market in size and scale, but we are always looking to the larger national and international players of the vacation rental industry to make sure that we are constantly updating our processes to keep up with the industry’s rapidly changing standards. One major thing that we handle differently is all day-to-day tasks such as property cleanings, maintenance, and interior design are performed by our own team of full-time employees. While most companies outsource these important jobs to part-time contractors, we find that providing full-time employment to well-recruited and skilled individuals helps decrease employee turnover while increasing job experiences levels, reliability, and loyalty. We’ve also found that doing everything in-house allows us to resolve issues more quickly and efficiently should they arise.
Q. Could you tell us about the work culture at ABODEbucks?
ABODEbucks strives to provide employment opportunities that are not just jobs, but potentially life-long careers that might support each team member’s personal goals. We respect and treat each team member as if they are one of our own clients, and we believe that with proper communication and support we can achieve the ideal culture of positivity, inspiration, patience, and empathy. The most fundamental point that we often discuss is that every single position is important as the next. Everyone’s responsibilities are very inter-connected, so when there’s an issue, we will work together to find the solution. We feel that setting proper expectations and providing the proper tools and support systems will help us overcome any obstacle. In short, teamwork makes the dream work!
Q. What does the road ahead look like for ABODEbucks? Do you have anything new coming up?
We couldn’t be more excited about the road ahead! Fueled by the success of 2021, our vacation rental portfolio has grown at a rate of 10% per month for several months, and there’s good potential that we will be double in size in less than a year. Our team is already working hard to make sure the scale goes as seamless as possible, and we are very optimistic about how 2022 might play out. In the meantime, our self-developed vacation rental dynamic pricing app Nightpricer is now available to the public for subscription and is starting to pick up speed!
Meet the leaders behind the success of ABODEbucks
Krissy Sedivy – Co-founder, Director of Sales & Design
Krissy was literally born into the hospitality industry. Growing up on a small family resort, exceptional guest service and detailed property management are passions that are engrained within.
Fun Fact: Has her Master’s Degree in Actuarial Science!
Josh Sedivy – Co-founder, Director of Operations
Josh could boast of his 20 successful years in the fields of sales, finance, and management, but he’s much more likely to settle in for a long conversation about music, food, or travel.
Fun Fact: Has stayed in over 60 Airbnbs in 39 countries!