B2 Vacations has some of the most loyal owners in the industry with a retention rate of 98%. This is accomplished by having full transparency with owners and guests. It has led to an average guest rating of 4.9 stars with over 2,000 reviews.
Can you tell us a little bit about your history?
Our family has been coming to Myrtle Beach for over 30 years. For years, we would lose money by letting other companies manage our rental income. In 2017, we bought a new place and Chanda started managing the rental herself. Renting the units went so well, we bought a total of 8 condos in Myrtle Beach. In the 2020 HOA meetings, other owners saw our success and asked us to manage their units. So, we got our Property Management license, formed our company, B2 Vacations, and started managing rental units for other owners. We now have almost 100 rentals in Myrtle Beach. Our goal is to reach 200 units in the next 3 years.
What is your personal / professional background?
Navin recently retired from a big technology company where he worked in software development. Chanda is a Physician Assistant working in Pediatrics.
What do you love most about the VR business?
We love to travel and know what guests are looking for when they vacation. We joked about opening a Travel Agency many years ago. Running a vacation rental business allows us to give our guests the same experience we would expect for ourselves. We also love helping owners maximize their rental potential. While many owners struggle and lose money, we strive to help them cover their costs and mortgage. We have the most loyal owner base.
What do you dislike the most about it?
Some guests try to manipulate the system. They try to extort discounts with the threat of bad reviews over minor things.
How do you use OwnerRez to manage your business?
OwnerRez is our home base. We manage all reservations, integrations with Airbnb & Vrbo, payments, guest communications, and owner statements in OwnerRez. We are on OwnerRez constantly all day long.
What is the most useful feature that OwnerRez offers?
Integration with various tools like Vrbo, Airbnb, PriceLabs, etc. Also, the automated communication with guests and owners through email and SMS texts.
Navin and Chandra, congratulations for your organic and impressive growth! Your story is a great example of "success begets success."