Natiivo Austin - Review After 6 Months Update

What's it like to own a Natiivo condo in downtown Austin? 

I've done a couple of videos before we took possession of this unit and now I'm gonna show you the finished product. 

We've owned this unit for six months if you're not familiar, and Natiivo Austin is the only downtown Austin condo building that allows vacation rentals. You can have this unit you can use it when you want, and you can rent it to guests when you're not using it.

Let me tell you my history with this place. When we initially bought the place, we were told that the rental rates were going to be based on current hotel rates in the area. The developer has an arrangement with Vacasa. For my personal unit, they gave us I think it was 50,000 was supposed to be a conservative number of what the income would be throughout the year. 

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One of the problems we've had is that Vacasa, in order to fill up the units, they set pricing for the owners like on some kind of smart pricing at a much lower rate than we would have accepted. As an example, I had two reservations for 10 days and those were $1,500 gross before we pay Vacasa our fee. 

We called them and said you know, there's no way I'm renting my place out for $150 a night and they canceled it. We set the minimum pricing at $250 per night, but what ended up happening is they would do a three night and it'd be $250. I was expecting to get about $300 during the week and $450-$500 on a weekend. I went through Vacasa for several months and because we are competing with other Vacasa units that have theirs at a lower rate, we decided we're not doing the cost anymore. 

We ended up going with another property management company and they're advertising on their website as well as other websites that don't charge the same fees. We actually pay a lower rate.

In my opinion, if you're going with Vacasa and you're going with their smart pricing, you're going to get a lower-than-market-rate nightly income for that.

Austin Condo Hotel

We have had our property rented with Austin Condo Hotel and it has been a world of difference. We've got several bookings and had several bookings that are getting prices much higher. We're not getting anything for under $250 and at the time of recording the update on October 18, we have 29 bookings until the end of the year. 

It's been a very positive experience. About 5 out of 6 nights of Austin City Limits are booked at about $700/night. Definitely, a world of change, and would recommend it if you're looking at a management company from Austin Condo Hotel.

Send me a message or contact Austin Condo Hotel and we can definitely get you set up at the right place. If you're looking to buy or sell at Natiivo Austin, call 512-883-4074.

Posted by Ryan Rodenbeck on
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