The past few months have seen an upsurge in VC firms investing in the vacation rental industry. Next to innovative software companies, property management start-ups have started turning investor heads, too. As the competition heightens, vacation rental managers must secure the proper funds to get ahead of the game, and some of the world’s most renowned VCs are ready to back them.
Here are 10 property management startups that have recently raised funding rounds. They’re vying to become leaders in the short-term rental market – whether they manage rentals for business or leisure travellers. And if you’re looking for investment, check this 10 funding options to raise capital.
Turnkey
| Number of Vacation Rentals | 5,000 | Locations | Single-country |
|---|---|---|---|
| Based in | Austin, TX | Property type | Rural villas / Urban apartments |
| Founded in | 2012 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
Since its founding in 2012, Turnkey has grown into one of the largest vacation rental property management companies in the US. The startup offers luxury properties and premier homes in 20 US states.
In July 2019, Turnkey raised $48M to develop its proprietary technology which the company considers the key to effective property management.
GuestReady
| Number of Vacation Rentals | 2,000 | Locations | Multi-country |
|---|---|---|---|
| Based in | London, UK | Property type | Urban apartments |
| Founded in | 2016 | Service | Full service |
| Market | Multi-market | Growth via | Organic and acquisitions |
| Funding | VC-backed |
GuestReady uses Rentals United as their Channel Manager
GuestReady is the number one property management service for vacation rentals in London. They manage a large portfolio of luxury vacation rentals and provide a wide range of services including listing creation, professional photography, 24/7 concierge service, guest communication, key exchange, price optimisation, property maintenance, etc.
Founded in 2016, GuestReady is constantly growing and expanding its inventory of vacation rentals in the UK, France, UAE, Portugal, Malaysia, and Hong Kong.
In April 2019, GuestReady acquired BnbLord, another large property manager, expanding its portfolio with 1,100 properties. In June 2019, the startup raised $6M in series A funding to fuel its growth and become a market leader in Europe.
Lyric
| Number of Vacation Rentals | 500 | Locations | Single-country |
|---|---|---|---|
| Based in | San Francisco, CA | Property type | Urban apartments / Urban buildings (multi-family) |
| Founded in | 2014 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
Lyric is one of the growing technology-powered property management startups with a portfolio of apartments specifically designed for business travellers. They offer locally inspired and professionally managed short-term rentals in 7 US cities: Chicago, Dallas, Houston, Minneapolis, New Orleans, Philadelphia, and Pittsburg.
In April 2019, Lyric raised a $160-million financing round led by Airbnb.
Blueground
| Number of Vacation Rentals | 1,700 | Locations | Multi-country |
|---|---|---|---|
| Based in | New York, NY | Property type | Urban apartments / Urban buildings (multi-family) |
| Founded in | 2013 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
Blueground manages furnished apartments for flexible rent. Their goal is to serve travellers who move around the world and want to rent living spaces for as little as a month. They lease units from property owners, furnish and decorate them, and rent them out on a flexible basis to remote workers, digital nomads and business travellers.
Currently, BlueGround manages 1,700 apartments in nine cities across three continents: New York City, San Francisco, Los Angeles, Chicago, Boston, Washington DC, Athens, Istanbul and Dubai. In March 2019, they raised $20M in funding to back their growth.
Zeus
| Number of Vacation Rentals | 900 | Locations | Single-country |
|---|---|---|---|
| Based in | San Francisco, CA | Property type | Urban apartments / Urban buildings (multi-family) |
| Founded in | 2015 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
Zeus manages apartments for business stays in the San Francisco Bay Area, Los Angeles, Seattle and Washington DC, taking over all responsibilities from the homeowner, including furnishing, design, housekeeping and more.
In March 2019, they raised $24M to feed into their expansion and become leaders in the corporate housing market.
The Guild
| Number of Vacation Rentals | 290 | Locations | Single-country |
|---|---|---|---|
| Based in | Austin, TX | Property type | Urban apartments / Urban buildings (multi-family) |
| Founded in | 2016 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
The Guild‘s mission is “to bring the 200,000-year-old hotel industry into the new age.” They aim to create an experience that’s in between a boutique hotel room and a holiday home by partnering with building owners and leasing units that they turn into vacation rentals. They offer various technology-based services such as automated check-in and keyless entry.
Based in Austin, Texas, The Guild has properties in Austin, Dallas, Miami, Cincinnati and Denver. In 2018, they raised $9 million in funding.
Domio
| Number of Vacation Rentals | 250-300 | Locations | Single-country |
|---|---|---|---|
| Based in | New York, NY | Property type | Urban apartments / Urban buildings (multi-family) |
| Founded in | 2016 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
Domio manages upscale aparthotels that are basically boutique hotels with more space and more tech solutions.
Having raised $12 million in series A funding last year, they’re leasing entire aparthotel properties that they brand, furnish and operate themselves. Their destinations include Austin, New Orleans, Nashville, San Diego, Boston, Phoenix and Chicago.
HostMaker
| Number of Vacation Rentals | 2,500 | Locations | Multi-country |
|---|---|---|---|
| Based in | London, UK | Property type | Urban apartments |
| Founded in | 2014 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
HostMaker uses Rentals United as their Channel Manager
HostMaker one of the well-known property management startups that provides an end-to-end solution for rental owners, covering all major services from marketing and distribution to guest communications and housekeeping.
The business, launched in 2014, has expanded to 8 European cities and Bangkok.
In 2018, HostMaker raised $5 million in venture debt.
Sweet Inn
| Number of Vacation Rentals | 600 | Locations | Multi-country |
|---|---|---|---|
| Based in | Tel Aviv, Israel | Property type | Urban apartments |
| Founded in | 2014 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
Sweet Inn uses Rentals United as their Channel Manager
Sweet Inn offers “hotels spread throughout the city”: apartments with the independence of a vacation rental and the guest experience of a hotel. They currently lease and rent out properties in 13 European cities, Jerusalem and Tel Aviv, but are expanding to the Americas and Asia.
Founded in 2014, the French-Israeli startup has an inventory of 600 apartments. In 2017, they raised a $22-million investment round.
Lavanda
| Number of Vacation Rentals | N/A | Locations | Single-country |
|---|---|---|---|
| Based in | London, UK | Property type | Urban apartments |
| Founded in | 2014 | Service | Full service |
| Market | Multi-market | Growth via | Organic |
| Funding | VC-backed |
Lavanda uses Rentals United as their Channel Manager
Lavanda has built an award-winning proptech platform for estate agents and PRS property owners. They help landlords and property managers maximise their profits with innovative technology and luxury property management services.
The company was founded in 2014 and has since been expanding in the UK. In 2017, they raised €1.1 million in funding.
How many of these property management startups are you familiar with? Also check out The World’s Top 20 Vacation Rental Property Managers!
