Eric Breon, the founder and former CEO of Vacasa, a prominent vacation rental management company, has launched a new venture in the same industry. Named Fairly, this Portland, Oregon-based startup aims to revolutionize the vacation rental landscape by prioritizing individualized care for homeowners and providing sophisticated automation tools. Backed by $10.1 million in pre-seed funding secured internally from co-founders and employees, Fairly enters the market with a distinct approach, challenging the established norms of vacation rental management and seeking to address perceived shortcomings in the existing models. Breon, joined by Vacasa veterans Subechya Person as chief product officer and Jeff Flitton as chief technology officer, leverages his extensive experience and lessons learned from his decade-long tenure at Vacasa to build a platform that empowers both homeowners and the individuals who care for their properties.
Fairly’s core differentiator lies in its personalized approach to property management. Unlike traditional vacation rental management companies that often assign homeowners to generic managers and cleaning tasks to impersonal contractors, Fairly connects each homeowner with a dedicated two-person team. This team comprises a caretaker, responsible for the daily operational aspects of the property, and an advisor, typically a real estate agent, who provides local market expertise and assists with regulatory compliance. This personalized structure fosters stronger relationships and accountability, ensuring that the homeowner’s specific needs and preferences are met. The direct communication channel between homeowners and their caretakers facilitates prompt and efficient property improvements, circumventing the bureaucratic layers often present in larger management companies.
Empowering caretakers is another key tenet of Fairly’s operational model. Caretakers on the platform have the autonomy to set their own cleaning fees and choose the homeowners they wish to work with, fostering a sense of ownership and incentivizing high-quality service. By receiving 100% of the cleaning fee, caretakers are directly invested in the success of the properties they manage. Furthermore, their intimate knowledge of the homes allows them to serve as the primary point of contact for guest inquiries, offering a more personalized and informed guest experience compared to the often impersonal call center interactions prevalent in the industry. This direct communication between guests and caretakers contributes to a more seamless and satisfying experience for both parties.
Fairly’s revenue model involves a 20% commission on the rental fee, half of which is shared with local partners – 5% to the advisor and 5% to the caretaker. This revenue-sharing model further incentivizes the local team to maximize the property’s performance and ensures that their contributions are directly rewarded. The platform also incorporates cutting-edge technology, including modern yield management strategies, integration with third-party channels like Vrbo and Airbnb, electronic access control, and AI-powered dynamic pricing. These features, previously pioneered by Vacasa and now becoming industry standards, are seamlessly integrated into Fairly’s platform, providing homeowners with advanced tools to optimize their rental income.
Fairly’s platform is designed to cater to a diverse range of homeowner needs and investment strategies. Whether the property is viewed as a pure investment vehicle for maximizing revenue or a cherished family sanctuary requiring careful management and preservation, Fairly provides the flexibility to accommodate individual priorities. Homeowners seeking maximum returns can leverage the platform’s sophisticated yield management tools, while those prioritizing preservation can set higher prices to minimize wear and tear and retain flexibility for personal use. This adaptability ensures that the platform caters to a broad spectrum of homeowner preferences, solidifying its position as a versatile solution in the vacation rental market.
Transparency and homeowner involvement are further emphasized through the platform’s communication features. While caretakers serve as the primary point of contact for guests, homeowners have full visibility into all communications and can seamlessly join conversations when desired. This feature caters to homeowners who appreciate being involved in the hosting process without bearing the full responsibility. This balanced approach allows homeowners to maintain a degree of connection with their guests and property management while benefiting from the streamlined services provided by the caretaker. The platform’s design reflects a deep understanding of the diverse needs and preferences within the vacation rental market, offering a tailored approach that balances automation with personalized service.
Currently employing 25 individuals, primarily software engineers, Fairly is poised for growth and expansion. The initial funding round, secured internally, demonstrates the team’s confidence in their vision and provides the resources to further develop the platform and expand its reach. As Fairly emerges from stealth mode, its innovative approach and focus on personalized service position it as a potential disruptor in the vacation rental industry. With a team of experienced professionals at the helm and a clear understanding of the market’s evolving dynamics, Fairly aims to redefine the relationship between homeowners, caretakers, and guests, creating a more efficient, personalized, and rewarding experience for all stakeholders.
