Portland Homeowners: Turn Your Property Into a Goldmine Without the Stress

Portland Homeowners: Turn Your Property Into a Goldmine Without the Stress

In the summer of 2001, Shannon Buchanan and her family found their ultimate haven: a sprawling 7-bedroom, 6-bathroom home at Black Butte Ranch in Central Oregon. The property became the backdrop for countless family gatherings, featuring three generations that included Shannon’s in-laws, their children, and a lively group of 9 grandchildren.

“It’s more than just a house; it’s our family’s treasure chest of memories,” Buchanan beams, reminiscing on the 22 years the clan has spent together at the ranch.

Fast forward to 2023, the once bustling household has grown quieter. Shannon’s two daughters have flown the nest and are currently attending Gonzaga University. Shannon, who describes herself as a full-time mom, and her husband now find themselves splitting their time between their Portland residence and their cherished Black Butte Ranch home.

But here’s the twist: their ranch property is far from idle when they’re away. Thanks to Vacasa, a full-service property management company, the Buchanans can be as hands-off as they want to be while still capitalizing on their property.

“From installing air conditioners during scorching heatwaves to delivering extra towels, our local manager from Vacasa just takes care of everything,” says Buchanan.

Prior to partnering with Vacasa, the Buchanans were managing the property themselves, which was no small feat. Shannon recalls a particularly stressful episode when their refrigerator broke down in December while they were vacationing in Nicaragua.

“The uncertainty and stress were overwhelming,” she admits.

However, ever since they switched to Vacasa in March 2020—yes, right when the pandemic was beginning to unfold—their property management journey has been smoother than ever. Vacasa was quick to adapt to new cleaning and sanitation protocols, ensuring that renters felt safe and comfortable. They even managed to find housekeepers during times when labor was in short supply.

“I can’t imagine dealing with all of that on my own. Vacasa has been a lifesaver,” Buchanan emphasizes.

The Buchanans have discovered another silver lining: a healthy stream of passive income. From hosting entrepreneur retreats to accommodating multiple families, their property is always bustling with activity. In fact, Vacasa’s market data indicates that their managed properties in Central Oregon had 17% higher occupancy rates compared to other local options during Q2 2023. For Shannon and her family, this translated into a 6% year-over-year increase in Q2 gross rent.

“We’ve made enough to start thinking about some luxurious home upgrades—new dining room furniture, and maybe even replacing the old carpet,” Buchanan says.

What really caught her attention, however, is Vacasa’s dynamic pricing algorithm. It continuously adjusts to market demand, ensuring that the Buchanans get the maximum possible rental income.

“At the end of the day, whether we’re in Portland or globe-trotting, it’s comforting to know that our beloved family home is in good hands—and generating income,” Buchanan concludes.

Chris has been in the marketing industry for well over a decade. Chris loves writing about anything related to saving money. A passion for teaching people through writing has given him a unique opportunity to use his skills in the marketing industry. In his spare time he likes spending time with his family. training his new puppy, and taking long road trips to places like Banff & Lake Louise, Alberta.
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