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To date, this is the largest funding round ever raised in the vacation rental management sector, [36] and the largest series B funding round ever raised for an Oregon technology company. [37] On October 18, 2018, Vacasa raised a Series B extension of $64 million, bringing the company's total funds raised to $207.5 million. [38]
Omni then expanded into offering other services such as the option to lend items to friends [2] and the ability to rent out items for profit. As of July 2018, Omni was only available in the San Francisco Bay area, [3] but had announced plans to expand into Portland, Oregon. [4]
Some management companies also act as agencies, marketing the vacation rental property and handling reservations and billing. Most vacation rental management companies work on a commission basis, meaning they do not make a guarantee to the homeowner in terms of weeks that will be rented or revenue earned. [ 8 ]
Rental management software for real estate properties can include end-to-end functionality such as marketing, rental applications, tenant screening, property management, payment processing, and accounting. Running a successful rental business needs staying up-to-date with the latest marketing strategies to attract and retain customers.
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Most states, such as New York [33] and Colorado, [34] require property management companies to be licensed real estate brokers if they are collecting rent, listing properties for rent, or helping negotiate leases and doing inspections as a third-party. A property manager may be a licensed real estate salesperson but generally they must be ...
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